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1MBD Real Estate seeks partners to participate in 468-acre project in Kuala Lumpur.

Kuala Lumpur, 22 June 2015:Further to an announcement by 1MDB's President and Group Executive Director on 12 June 2015, 1MDB Real Estate Sdn Bhd (1MDB RE)announced todaythe Request For Proposal (RFP) process for its Bandar Malaysia development is now underway. 

This follows the presentation of a rationalization plan for 1MDB to Cabinet on 29 May 2015, and the company is pleased to have begun making progress towards its implementation.

Commencing with a request for Expressions of Interest (EOI) via advertisements in local newspapers this week, 1MDB RE - as the project’s master developer - has announced that it is seeking development partners to participate in the 486-acre project in Sungai Besi, Kuala Lumpur. 

The closing date for submission of expressions of interest is 10 July 2015, with CH Williams Talhar & Wong acting as the real estate advisor and managing the exercise.

Bandar Malaysia will be a mixed-use urban development that is expected to serve as a catalyst for the transformation of Greater Kuala Lumpur. Strategically located within seven kilometres of Kuala Lumpur City Centre (KLCC), the development will serve as Kuala Lumpur’s gateway for the high speed rail-line to Singapore and become a central transport hub in the city via MRT lines 2 and 3, KTM Komuter, ERL, and future access to 12 major highways.

Bandar Malaysia generates local and global Interest, to launch RFP in to two weeks.

Bandar Malaysia: Request For Proposal

“Further to the rationalisation plan presented to Cabinet on 29 May 2015, I am pleased to announce that 1MDB intends to launch a Request for Proposal (“RFP”) process for our subsidiary Bandar Malaysia Sdn. Bhd. in the next two weeks. Having generated considerable local and global interest, the objective of this RFP process is to select qualified equity investors to partner in the overall development.

Bandar Malaysia is a new 486-acre mixed-use urban development that is expected to serve as a catalyst for the transformation of Greater Kuala Lumpur. Strategically located within seven kilometres of Kuala Lumpur City Centre (KLCC), the development will serve as Kuala Lumpur’s gateway for the high speed rail-line to Singapore and become a central transport hub in the city via MRT lines 2 and 3, KTM commuter, ERL, and future access to 12 major highways.

To relocate existing facilities on the site, 1MDB is currently responsible for the delivery of new military facilities at eight locations being constructed across Malaysia. 1MDB is contributing RM1.6 billion towards these relocation costs, out of a total RM2.7 billion construction contract. We are pleased to update that construction of these new bases is on track for handover by 1 January 2017, due to the excellent progress by our contractor Perbadanan Perwira Hartanah Malaysia, a 100% subsidiary of Lembaga Tabung Angkatan Tentera (LTAT).

Prior to the formal launch of the RFP process, which will be independently managed by CH Williams Talhar & Wong, we request suitably qualified equity investors to register their interest by entering into a confidentiality agreement with 1MDB in order to facilitate the sharing of preliminary information.”

- Arul Kanda, President and Group Executive Director

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