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MX-1 winner, RM7 billion GDV, MRCB.

To those who remember my earlier article, RM3 Billion town centre in RRIM, 6 developers were shortlisted as the finalists for the first parcel of land in the massive Kwasa Damansara project which is being positioned as the largest township development in the Klang Valley. The size included Guocoland Malaysia Bhd, Putrajaya Holdings Sdn Bhd, S P Setia Bhd, UEM Sunrise Bhd, YTL Corp Bhd and Malaysian Resources Corp Bhd (MRCB).  The winner? MRCB. According to them, they won the competitive bid for the first 64 acres which is also known as MX-1. The GDV is estimated to be RM7 Billion, quite a hefty GDV by any standard.
For any competitive bidding, there must be an evaluation panel. This evaluation panel was led by Raine & Horne International Zaki & Partners Sdn Bhd and supported by AJM Planning Urban Design Group, Perunding Hashim and Neh Sdn Bhd, ARH Jurukur Bahan Sdn Bhd and a few other leading consultants. Criterias used? Financial, technical and commercial considersations. The whole development is expected to be fully completed in 12 years. The MX-1 piece of land benefits from four expressways, two MRT stations and even because it is nearby to the SkyPark air terminal.
I think if you are very sure about this MX-1, then it is time to also look through the nearby areas such as Kota Damandara, Sri Damansara, and Damansara Damai. At this moment these are still considered on the medium to lower end or also known as secondary choices compared to Mutiara Damansara. Of course there are a few developers which has started to come into the picture and price new offerings higher in the Damansara Damai area but everything would only be serious after more announcements are made for MX-1. Otherwise, life goes on as usual. My friend declared the other day that my place is considered far away from ‘happening’ compared to his place in Mutiara Damansara. Amazing thing is, today he sent me an article about MRCB’s win and said, ‘bro, I want to buy MX-1’. I showed him the map and I laughed. He laughed too.
written on 1 July 2014
Next suggested article:   Not too far, Not too high, RM700,000 in 3 years

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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