LBS secures RM8.3bil Kwasa Damansara deal with EPF
The agreement grants LBS exclusive rights to develop 11 parcels of prime freehold land covering 77.8 hectares. Located in the "PJ West" area, the project will comprise 2,922 residential units—featuring a mix of low- and mid-rise condominiums and landed homes—designed to serve diverse market segments.
Aligned with the approved master plan, the development will include supporting infrastructure and amenities with an emphasis on connectivity, sustainability, and liveability. It will be rolled out in phases over 14 years and marks a major strategic investment by LBS in one of the Klang Valley's most future-forward township developments.
In a statement, LBS said that the RM1.22 billion development rights, largely representing the total land cost of the project, underscore the long-term investment potential of the Kwasa Damansara Township.
Strategically located near mature neighbourhoods such as Kota Damansara, Tropicana, Subang Bestari, and Sungai Buloh, the site enjoys proximity to retail, dining, and commercial hubs and is poised to emerge as one of Klang Valley's leading sustainable and future-proof townships.
Future residents will benefit from excellent connectivity via two MRT stations linked to the Putrajaya and Kajang lines and accessibility through major highways including the North Klang Valley Expressway (NKVE), Guthrie Corridor Expressway (GCE), and Damansara-Shah Alam Elevated Expressway (DASH). It is also just 4 km from the Sultan Abdul Aziz Shah Airport in Subang.
This marks a significant milestone in both LBS' growth trajectory and the continued transformation of Kwasa Damansara—a master-planned, 913.3 ha township positioned as Greater Kuala Lumpur's new northern growth corridor.
"We are pleased to partner with LBS, a developer with a proven track record in delivering quality and community-focused developments. This collaboration marks a progressive step forward in realising the vision of Kwasa Damansara as a sustainable and inclusive township that caters to Malaysia's growing urban population," said Datuk Adenan Md Yusof, managing director of Kwasa Land.
"With its integrated design and strategic connectivity, including access to multiple MRT stations, we believe this project will significantly contribute to the township's appeal and long-term value."
Kwasa Damansara is envisioned as a vibrant, transit-oriented, and green township featuring a comprehensive mix of residential, commercial, institutional, and recreational components.
Destined to become a model city for business, living, and leisure, Kwasa Damansara will offer over 250 acres of surrounding green spaces encompassing nine parks and complemented by more than 25 km of cycling and walking trails. The township will also host 25,000 new housing units—including 10,000 affordable housing units and land designated for 15 new schools.
Tan Sri Dr. Lim Hock San, group executive chairman of LBS, said, This collaboration marks a significant milestone in our ongoing mission to deliver well-connected and high-quality residential communities that prioritise long-term liveability. Drawing on our strong track record and extensive experience in township development, we are committed to maximising the value of this prime land by delivering a sustainable, high-quality, and future-ready neighbourhood that meets the evolving needs of modern homebuyers."
Lim said that moving forward, this strategic development is expected to strengthen the group's financial performance and position while diversifying its portfolio with high-value, premium offerings.
He added that this opportunity aligns seamlessly with the group's 8 x 8 Strategy, propelling LBS to new heights in the property development industry through its commitment to innovation, sustainability, and community-centric living.
PJ West will also be home to the proposed Kwasa Community Forest, a lush green sanctuary nestled atop the township's highest point. Serving as the township's green lung, this forest will be seamlessly connected to surrounding development plots through a network of green corridors, providing multiple access points for residents.
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KUALA LUMPUR: Kwasa Land Sdn Bhd (KLSB), a wholly-owned subsidiary of the Employees Provident Fund (EPF), through its group of subsidiaries, has entered into a Development Rights Agreement (DRA) with LBS Bina Group Bhd, a Malaysian property developer guided by people-first values, via its subsidiary, LBS Kwasa Damansara Sdn Bhd. Under the DRA, LBS Kwasa Damansara has been granted exclusive rights to progressively develop 11 parcels of prime freehold land, totalling 77.83ha (192.32 acres), within the thriving Kwasa Damansara township in the Petaling district of Selangor. The gross development value of the project is estimated at approximately RM8.3bil, representing a strategic investment by LBS into one of Klang Valley's most anticipated future-ready townships. The proposed development located in the 'PJ West' area of Kwasa Damansara is set to feature 2,922 residential units, comprising a balanced mix of low- and mid-rise condominiums as well as landed homes, tailored to meet a wide spectrum of market needs and lifestyle aspirations. Supporting infrastructure and amenities will be integrated in line with approved master plans, prioritising connectivity, liveability and sustainability. The development will be executed in phases over a 14-year period. The RM1.216bil development rights, largely representing the total land cost of the project, reflects the long-term investment potential of the Kwasa Damansara township. Strategically located, it is poised to emerge as one of Klang Valley's leading sustainable and future-proof townships. It marks a significant milestone in both LBS' growth trajectory and the continued transformation of Kwasa Damansara – a master-planned, 913.4ha (2,257-acre) township positioned as Greater Kuala Lumpur's new northern growth corridor. Hock San (seventh from left), together with Adenan (beside Hock San), posing for a group photo with senior representatives from both companies. Kwasa Damansara is envisioned as a vibrant, transit-oriented and green township featuring a comprehensive mix of residential, commercial, institutional and recreational components. 'We are pleased to partner with LBS, a developer with a proven track record in delivering quality and community-focused developments. This collaboration marks a progressive step forward in realising the vision of Kwasa Damansara as a sustainable and inclusive township that caters to Malaysia's growing urban population,' said Kwasa Land managing director Datuk Adenan Md Yusof. 'With its integrated design and strategic connectivity – including access to multiple MRT stations – we believe this project will significantly contribute to the township's appeal and long-term value.'. LBS group executive chairman Tan Sri Ir Dr Lim Hock San said, 'This collaboration marks a significant milestone in our ongoing mission to deliver well-connected and high-quality residential communities that prioritise long-term liveability. 'Drawing on our strong track record and extensive experience in township development, we are committed to maximising the value of this prime land by delivering a sustainable, high-quality, and future-ready neighbourhood that meets the evolving needs of modern homebuyers. 'Moving forward, this strategic development is expected to strengthen the group's financial performance and position, while diversifying our portfolio with high-value, premium offerings.' Lim highlighted that this opportunity aligns seamlessly with the group's 8 x 8 Strategy, propelling LBS to new heights in the property development industry, through its commitment to innovation, sustainability and community-centric living. PJ West will also be home to the proposed Kwasa Community Forest, a lush green sanctuary nestled atop the township's highest point. Serving as the township's green lung, this forest will be seamlessly connected to surrounding development plots through a network of green corridors, providing multiple access points for residents. The park is envisioned to include scenic lookout points, serene forest walks, dedicated mountain biking trails, a boardwalk, an open-air amphitheatre, and a host of other recreational features designed to promote outdoor living and community engagement. Strategically located near mature neighbourhoods such as Kota Damansara, Tropicana, Subang Bestari and Sungai Buloh, the site enjoys proximity to retail, dining and commercial hubs. Future residents will benefit from excellent connectivity via two MRT stations linked to the Putrajaya and Kajang lines and accessibility through major highways including the North Klang Valley Expressway (NKVE), Guthrie Corridor Expressway (GCE) and Damansara-Shah Alam Elevated Expressway (DASH). It is also just 4km from the Sultan Abdul Aziz Shah Airport in Subang. Destined to become a model city for business, living and leisure, Kwasa Damansara will offer over 101.2ha (250 acres) of surrounding green spaces encompassing nine parks and complemented by more than 25km of cycling and walking trails. The township will also host 25,000 new housing units - including 10,000 affordable housing and land designated for 15 new schools. To date, Kwasa Land has entered into collaboration agreements with 17 development partners, granting them development rights over approximately 394ha (973 acres) within the township. These projects account for roughly 73% of the total 539ha (1,331 acres) of saleable land in Kwasa Damansara and represent a combined Gross Development Value of over RM40bil.
