malaysia

Finance ministry opens master developer bidding for Bandar Malaysia

The Finance Ministry announced starting today it would be issuing a request for proposal process, inviting those interested in the role of master developer for Bandar Malaysia.The Finance Ministry announced starting today it would be issuing a request for proposal process, inviting those interested in the role of master developer for Bandar Malaysia.KUALA LUMPUR, June 23 — Putrajaya is looking for a Fortune 500 company to be the master developer of the multi-billion ringgit Bandar Malaysia project.

The Finance Ministry announced starting today it would be issuing a request for proposal (RFP) process, inviting those interested in the role of master developer for Bandar Malaysia, which is 100 per cent owned by the ministry.

“This RFP document is to solicit the most comprehensive proposal based on highest and best use for the Proposed Development.

“The Proposer must be able to demonstrate how their proposal focuses and places emphasis on the key themes of serving people and the national interest of Malaysia,” the statement from the ministry read.

Among the criteria listed for the companies applying include being an “affiliate of a Fortune 500 company to ensure financial strength”, a company which has generated RM50 billion revenue in the last three years and “has experience in international quality real estate development projects”.

Interested parties may collect the RFP at the Finance Ministry’s headquarters in Putrajaya starting from July 5.

Iskandar Waterfront Holdings-China Railway Engineering Corp IWC-CREC consortium was previously awarded the contract to develop Bandar Malaysia.

Prime Minister Datuk Seri Najib Razak had said that the termination of the previous agreement with IWC-CREC was final and will not be reinstated.

The Finance Ministry terminated the RM7.41 billion deal after the consortium failed to meet the payment deadline.

The yet-to-be-built Bandar Malaysia is located in nearly 500 acres of land in Sungei Besi that was previously occupied by the Royal Malaysian Air Force airbase, which Putrajaya transferred to 1Malaysia Development Bhd.

TRX City, or the Tun Razak Exchange, is planned as the next financial hub for Kuala Lumpur.

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