KUALA LUMPUR: Kwasa Land Sdn Bhd, the property development arm of the Employees Provident Fund, has formed a partnership with YTL Corp Bhd to develop a residential project in Kwasa Damansara.
Kwasa Land said it had signed a development rights agreement with YTL Corp's wholly-owned Syarikat Pembenaan Yeoh Tiong Lay to develop the project with an estimated gross development value of RM200 million.
Kwasa Land managing director Mohamad Hafiz Kassim said YTL Corp was selected following a robust process where it had shown its "ability, solid track record and desire to deliver residential offerings with exceptional quality – in line with the demand of current homebuyers".
Hafiz expects the project to be launched by the year-end.
YTL Corp executive director Yeoh Keong Yuan said the company was excited to be part of a green, inclusive and connected township that represented the Klang Valley's last significant greenfield site with the development of future-forward residential offerings.
"Leveraging on shared values with Kwasa Land to strive towards a greener community, the R2-1 development provides us a platform to integrate nature as a complementary aspect that completes the home and living experience.
"Residents will be able to enjoy open, spacious living spaces and be connected outdoors with the stunning views of the surrounding parks and venture out to explore well-landscaped walking trails and jogging paths," said Yeoh.
The 5.14 hectares development in the Kwasa Damansara township will entail the construction of 1.5 storey townhouses and three-storey landed terrace houses enclaved within a lush green space.
With a built-up area of between 1,200 square feet and 2,300 square feet, the homes will feature modern and minimalistic designs.
The residential development will be surrounded by green spaces which include being located nearby the newly-opened Taman Bandar Kwasa Damansara, a 17.22 hectares park for the public to enjoy fitness and leisure activities.