In a statement today, Kwasa Land said its wholly-owned subsidiary Kwasa Development (3) Sdn Bhd has signed an agreement with Gadang's unit Elegance Sonata Sdn Bhd for the development rights of R3-1. Under the deal, Kwasa Land will receive RM165.5 million for the development rights and revenue sharing from Gadang. Kwasa Land noted that two mass rapid transit stations within the development — the Kwasa Damansara station and the Kwasa Sentral station — have been completed and are already in operation. In addition to R3-1, Kwasa Land has called for six requests for proposal for plots within the Kwasa Damansara township. They include the main town centre development MX-1 for Tier 1 developer, the first residential development R2-1 for Tier 2 developer and the first bumiputera residential developments of R3-2, R3-3 and R3-4.

Source: The Edge Markets January 18, 2017 08:04 UTC