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Japanese, Chinese entities jostle for Bandar Malaysia master developer position

KUALA LUMPUR: Following a request for proposal (RFP) for the Bandar Malaysia Project announced by the Finance Ministry in July this year, the project has received positive response from interested parties bidding to be master developer of the project.
According to The Straits Times, there is stiff competition between China's state-owned entities and two Japanese giants, Daiwa House Industry Group and Mitsui Fudosan Co Ltd, for the multi-billion dollar Bandar Malaysia property development project.
Seven Chinese state-controlled entities in the running are China State Construction Engineering Co Ltd, China Communications Construction Company (CCCC), China Gezhouba Group Corporation, Greentown Overseas Ltd, China Resources Ltd, China Vanke and Australia's John Holland, which is wholly owned by CCCC.
The daily, quoting sources, reported that the government has received nine proposals on how to develop the 197ha land located in Sungai Besi, an area that is five times the size of Kuala Lumpur City Centre (KLCC), inclusive of its park.
Sources also revealed that bids received feature development plans valued between US$7 billion and US$10.5 billion.
The Bandar Malaysia project was originally awarded to China Railway Engineering Corp (CREC) and Iskandar Waterfront Holdings Bhd (IWH) in December 2015, but the joint-venture's alleged failure to meet key conditions prompted the government to unilaterally cancel the contract in May this year, the report said.

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