KUALA LUMPUR, Sept 11, 2015:
The development partner shortlist for the 486-acre Bandar Malaysia project has been narrowed to four from 12, transaction advisor CH Williams Talhar and Wong (WTW) said in a statement today.
“We are working to finalise Bandar Malaysia’s development partner(s) by the end of October. We then aim to execute definitive legal agreements latest by the end of November 2015,” said WTW deputy managing director Danny Yeo.
He said the 12 proposals submitted at submission closing date of Aug 28 included proposals from domestic private developers, GLCs (government-linked companies) and foreign parties, either submitting independently or as a consortium.
The commercialisation of Bandar Malaysia, formerly the Sungei Besi airbase, is part of 1Malaysia Development Bhd’s rationalisation plan presented to the Cabinet on May 29 this year.
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 7km of Kuala Lumpur City Centre, 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.