EPF able to handle project

THE Employees Provident Fund (EPF) has a solid financial standing to carry out a massive development project involving 3,335 acres of land in Sungai Buloh, said Prime Minister Datuk Seri Najib Tun Razak.

The EPF also planned to increase its involvement in property investment from 2% to 5%, he said.

“The development project will also create job opportunities,” Najib said in his written reply to Nurul Izzah Anwar (PKR – Lembah Pantai).

The Government has approved a development project to be carried out by Kwasa Land Sdn Bhd – a joint venture company between the Government and EPF on the land owned by the Rubber Board of Malaysia.

The Government approved the proposed plan to develop the land in principle on May 12.

“The direct involvement of the Government through a joint venture with the EPF enables it to regulate the direction of the development, including the development of certain industrial sector clusters in line with the New Economic Model,” he said.

The EPF would be getting several private property companies to participate in the development of the land, Najib said, adding that EPF’s contributors are expected to benefit from the venture.

Dubbed the “new hub” for Klang Valley, the development project is estimated to attract more than RM5bil in investments.

This post has been edited by 106127: Aug 2 2010, 10:46 PM

its RRIM,
FRIM is not in sg buloh,

FRIM in Selayang...

Any upcoming new housing development near FRIM ?

FRIM is forest reserve where can develope?

malaysia boleh !!!!

.. boleh dapat komisyen

sungai buloh sounds like a good investment now... but gotta wait and see first, sometimes its all talk and no action... if no action, after you buy, ur money will be stagnant... and if got action, gotta see which private developers they will be joint venturing with. but overall, its worth considering.

dont worry. this place sure hot. big plans in it.
not sure when they are starting the project.
expect it to be around 2 years more

big plan like cyberjaya putrajaya?

have to see the crowds...and who will be the developers. New area good location doesn't mean it will gel if no proper planning is in place.

yeah big talk big plans big money......

de proposal aims to transform Sg Buloh into a new "Petaling Jaya"

as usual... money problem.

there goes our hard earn epf.... as the saying goes "as long as ur epf $$ is not in ur hand, you will nvr know where it goes".. expect the worse, maybe when you hit 55 and u realize, ur epf $$ habuk pun tak ada

Brother, try googlemap or wikimap b/4 u post-la. The place is inbtw d'sara perdana & ara d'sara. It is more 'PJ' then D'sara Mutiara or BU.

Main Developer is MRCB funded by EPF most likely sub-con to GLCs or bumi developers.

IMO surefire thingy & I'll place my bet on the 1st chance! No way this will be cyberjaya or i-city type as it is very close to established townships and urban infrastructure. Might take afew yrs to get the critical mass (catchment) as the development area is hugh but 98% will make it-1

I do hope most ppl will hesitate and adopt 'wait&see' so as not to drive the price up or form overnight ques.

This post has been edited by rakyat: Aug 3 2010, 09:32 AM

if not mistaken .. the "new cyberjaya' located alongside guthrie highway, neaby exit to sg. buloh
that location is link to NSE h/way & a new h/way fr. kula s'gor to templer park

i agree with what you said.
for starters, to catch in on subang 2, subang bestari areas. housing is still relatively cheap and good.
new launches by worldwide in subang bestari for bungalows and semi-dees starts from RM7xxk with big built ups and modern/nice deisgn.
time could be a factor but when the project flies off, spillover will reach even denai alam by sime.

Good advice, Kochin.

Wish that we have more info on the proposed development. That would be useful for the investment.

Friday May 6, 2011
EPF to buy Rubber Research Institute land for RM3bil
By YAP LENG KUEN
lengkuen@thestar.com.my

http://biz.thestar.com.my/news/story.asp?f...11&sec=business

PETALING JAYA: The acquisition of the 3,000 acres of Rubber Research Institute Malaysia (RRIM) land in Sungai Buloh is expected to cost RM3bil, sources said.

The signing between the purchaser, the Employees Provident Fund (EPF), and the Government is expected to be held in the near future, the sources said, adding that the development project would be carried out for the next 10 to 15 years.

“It will be a mixed development with commercial and a focus on affordable housing,'' a source told StarBiz.

According to the sources, the EPF will have a master plan where it will allocate a few parcels and allow property developers to bid for those parcels; some parcels will be operated on a joint-venture basis while others may be sold outright via bids.

“It will be systematically and properly done,'' said the source.


The EPF has formed a company under Kwasa Land Sdn Bhd to be the master developer for the RRIM land in Sungai Buloh.

The former head of property investment at the EPF, Mohamad Lotfy Mohamad Noh, has been appointed the managing director of Kwasa.

The development, which is estimated at RM10bil, is likely to feature a big linear park, green lungs, open spaces, walkways and water bodies. It will incorporate information technology and data infrastructure (MSC city status) and urban transportation integration.

This development will also house the depot for the upcoming mass rapid transit system. Dubbed the new hub of the Klang Valley, the development is expected to attract RM5bil in investments.

The EPF aims to increase the contribution from property to 5% from 2% currently. Under its gross investment income, property and miscellaneous income last year rose to RM103.18mil from RM87.85mil the previous year. Total gross investment income last year reached RM24.06bil from RM17.22bil previously.

I like this!

maybe 1 of it will be projek rumah mampu milik by gov?