Call goes out to Fortune 500 firms to pitch for Bandar Malaysia job

The Finance Ministry has announced that they are issuing a request for proposal (RFP) for a master developer for the development of Bandar Malaysia.

"The Ministry of Finance would like to announce the issuance of RFP for the role of the master developer in respect of the development of Bandar Malaysia on June 23, 2017," said the ministry in a statement released today.

They are looking for the most comprehensive proposal based on the highest and best use for the proposed development, it said.

"The proposer must be able to demonstrate how their proposal focuses and places emphasis on the key themes of serving people and the national interest of Malaysia," it said.

The ministry also listed criteria the interested companies or consortiums must meet for the role of master developer.

The criteria include:

•  An affiliate of a Fortune 500 company to ensure financial strength
•  An affiliate of a company which has generated cumulatively last three years of no less than RM50 billion in revenue from the entire value chain of real estate and associated businesses
• Experience in international quality real estate development projects

The RFP can be collected from July 5, 2017, from the office of the secretary-general of Treasury of the Finance Ministry.

Bandar Malaysia Sdn Bhd chairperson Mohd Irwan Serigar Abdullah (photo) had previously said that Putrajaya is eyeing top companies on the Fortune 500 list to spearhead the development of the Bandar Malaysia project.

Last month, the government abruptly terminated its plan to sell a 60 percent stake in Bandar Malaysia to IWH-CREC Sdn Bhd, a consortium comprising Iskandar Waterfront Holdings and China Railway Engineering Corporation.

The government claimed the consortium had failed to fulfill the necessary payments, a claim IWH-CREC denies.

Since then, Najib had lobbied China's Wanda Group, the country's largest private developer, to take up the Bandar Malaysia project.

However, no deal was signed amid China's tight capital controls.

Beijing had reportedly insisted that CREC, a state-owned company, should be retained in the Bandar Malaysia project.- Mkini

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