The first parcel up for grabs next month will be a 26ha town centre-transportation hub. Eight parcels will be tendered eventually with EPF projecting RM11bil in land sales revenue from 546ha, which works out to RM187 per sq ft [source].
Do you remember how much EPF bought the RRI land for? Let me refresh your memory.
Employees Provident Fund’s (EPF) wholly-owned subsidiary Kwasa Land Sdn Bhd acquired the 2,330 acres (943ha) of Rubber Research Institute (RRI) land in Sungai Buloh from the Malaysian Rubber Board for RM2.28bil or RM22.50 per sq ft. [source].
So EPF is projected to profit a cool 8.72 billion from the Sungai Buloh RRI land.
In a way, it is great that EPF is getting a lot of return of investment but on the other hand, it would mean the decimation of the last great piece of green lung in Klang Valley. NooOOoo!!!