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The size of MX-1 project was similar to that of the KL Sentral central business district which was also developed by MRCB.
MRCB will be
able to bring in the same concept of building a transportation hub with
commercial developments to Kwasa Damansara. The MX-1 is positive for
MRCB.
With an
estimated GDV of rm7 billion, MX-1 marks the development of the 2330
acre of land bordering Sungai Buloh and PJ. MX-1 will be fully completed
in 12 years from 2014.
MRCB had also reached a settlement agreement with PKNS when the former acquired a 70% stake in PJ Sentral Development.
In a worst
case scenario, assuming a project duration of 12 years from 2014 and a
net margin of 15%, the MX-1 could fetch an average annual net profit of
rm87 million until 2027.
Re
rating include upon signing of the MX-1 agreement as well as completion
of the purchase of an additional 30% stake in PJ Sentral.
The MX-1 is
slated to be the main town centre of the Kwasa Damansara township
development to be undertaken by Kwasa Land Sdn Bhd, a wholly owned
subsidiary of the EPF
The size of MX-1 project was similar to that of the KL Sentral central business district which was also developed by MRCB.
MRCB will be
able to bring in the same concept of building a transportation hub with
commercial developments to Kwasa Damansara. The MX-1 is positive for
MRCB.
With an
estimated GDV of rm7 billion, MX-1 marks the development of the 2330
acre of land bordering Sungai Buloh and PJ. MX-1 will be fully completed
in 12 years from 2014.
MRCB had also reached a settlement agreement with PKNS when the former acquired a 70% stake in PJ Sentral Development.
In a worst
case scenario, assuming a project duration of 12 years from 2014 and a
net margin of 15%, the MX-1 could fetch an average annual net profit of
rm87 million until 2027.
Re
rating include upon signing of the MX-1 agreement as well as completion
of the purchase of an additional 30% stake in PJ Sentral.
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