After issuing the Request for Proposal for the role of master developer in June, the Bandar Malaysia project received interest from six companies, reported Free Malaysia Today.
“We took them for a site visit and they need to submit their proposal by the end of this month,” said Treasury secretary-general Mohd Irwan Serigar Abdullah following the launch of the Volunteering for International Professionals programme.
Out of the six that have shown interest, the government, however, does not know how many would actually submit proposals based on the RFP, explained Irwan.
Notably, the government put out the RFP for the role of master developer in the Bandar Malaysia project on 22 June.
To ensure financial strength, the government required the interested company or consortium to be an affiliate of a Fortune 500 company or an affiliate of a company that has cumulatively generated at least RM50 billion in revenue from the entire value chain of real estate and associated business over the past three years. The interested company or consortium must also have experience in developing international quality real estate projects.
This came after the government’s share sale agreement with Iskandar Waterfront Holdings (IWH) and China Railway Engineering Corp (CREC) lapsed due to the buyers’ failure to fulfil payment obligations.
Irwan did not say if the six companies that showed interest included either CREC, IWC or both.
The successful company will hold a 60 percent stake in the Bandar Malaysia project, while the remaining 40 percent will be held by the Malaysian government, via a 1MDB unit.
Five times the area of the Kuala Lumpur City Centre, where the iconic Petronas Twin Tower stands, Bandar Malaysia is nestled on prime real estate in Sungai Besi located at the edge of downtown Kuala Lumpur.
Image sourced from FMT
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