The show must continue, especially for a piece of land which is considered prime. Yes, this is the Bandar Malaysia’s 486-acre project. According to the adviser for Bandar Malaysia, CH Williams Talhar and Wong (WTW), a total of four companies/consortiums have been shortlisted and approved by 1Malaysia Development (1MDB) as potential development partners. Bandar Malaysia is just 3kms away from Tun Razak Exchange and this makes it even more attractive, if all that were planned fall into place including the High Speed Rail too. This is a redevelopment of the former old airport in Sungai Besi and is designed to provide Greater KL with support as a new engine of growth.
These four were shortlisted from the 12 proposals submitted and they included proposals from domestic private developers, government linked companies and foreign parties. These proposals were assessed and evaluated by WTW and the final four bidders would next face a detailed due diligence, clarification and negotiation process with 1MDB Real Estate and WTW before a final recommendation is made to the 1MDB board of directors. According to Danny Yeo, deputy managing director of WTW, the winner would be finalised by end of October and executive a definitive legal agreements by end November 2015.
Some may be wondering about 1MDB since we read about it everyday from the many comments and sharing in Facebook. Well, no matter what you may believe or however bad you think 1MDB is, it remains a going concern and many of these plans are still continuing. Property happens to be one part of it. It is important for us to note that where Bandar Malaysia is concerned, it is way too important to be stopped. Development is part and parcel of continuous growth. Greater KL as a plan is vital as this is the capital of Malaysia to the world.
Finally, whether more MNCs would be coming into Malaysia or choosing Thailand or Indonesia instead would depend on the right developments being put forward. I am interested to know in more detail about the actual development plan as well as the partners / consortiums. My preference is for an international player partnering with a local partner. I think this gives the best of both worlds. Especially if the partner may also come with some very attractive financing options too. Happy reading and waiting.
written on 14 Sept 2015
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