40 parties have answered Bandar Malaysia’s request for proposal exercise.
Kuala Lumpur, 13 July 2015: CH Williams Talhar and Wong (WTW), the transaction advisor for the Bandar Malaysia’s Request for Proposal exercise, said today it has received strong interest from both local companies and global players to participate in the project.
40 parties, including some consortiums, have answered the project’s call for Expression of Interest (EOI), which ended Friday July 10. Among interested investors are Government-Linked Companies (GLCs), top Malaysian developers, world-class property brands, as well as foreign state investment corporations. Apart from Malaysia, interested investors are also from Singapore, China, Japan, Korea and Australia, said WTW.
1MDB Real Estate Sdn Bhd, as the project’s master developer, announced last month that it is seeking development partners to participate in the 486-acre project in Sungai Besi, Kuala Lumpur.
Following the EOI stage, WTW will undertake the first stage of evaluation. Shortlisted pre-qualified investors will then receive the Investment Memorandum that will detail Bandar Malaysia’s development vision and its proposed master plan.
1MDBRE is looking for development partner(s) that can contribute to the project, bringing in strong brand names, relevant expertise, strong track record and the capacity to raise necessary funding.
The commercialisation of Bandar Malaysia is part of a rationalisation plan for 1MDB which was presented to the Cabinet on 29 May 2015.
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 major highway networks.