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Prasarana to put up rail-and-property projects
Jul 24, 2012
Syarikat Prasarana Negara Bhd will get busy in the next 18 months as it prepares for a number of rail and property projects.
Aside from the team up with Naza TTDI group for the Taman Tun Dr Ismail project and the Crest Builder group for the Dangi Wangi project, Prasarana will also have other projects to work on with other developers.
The company is currently evaluating plans coming from six bidders for its 6.5 acres in the township of Ara Damansara.
"We are in the final stage of evaluation and will not be able to estimate the gross development value (GDV) of the project just yet," said Datuk Shahril Mokhtar, Managing Director at Prasarana Group.
"We expect to present the results of our evaluation to the board by mid-August and to make the formal award by the middle of September," he added.
He also revealed that the company is still finalising the details of its property development along its rail line on the site of the Dang Wangi light rapid transit (LRT) station with its JV partner.
The project, which has a GDV of about RM220 million, is awarded to a JV company between Detik Utuh Sdn Bhd and between Crest Builder Holdings Bhd unit Crest Builder International Sdn Bhd.
"We want to start work as soon as possible but there are a lot of regulatory approvals that we must seek. Thus, we expect to start groundwork by the second half of next year," he said.
Also, the company has teamed up with Naza TTDI Sdn Bhd for a condominium project in Taman Tun Dr Ismail with a 30:70 profit sharing model. Naza TTDI will do most of the work valued at RM12 million.
Prasarana's fourth project will be on a two-acre site near the monorail station in Brickfields while its fifth project is currently being worked on.