1MDB Launches Pulau Indah Land Sale Process
Further to expressions of interest received for the company’s land parcel in Pulau Indah, 1MDB is pleased to launch the land sale tender process.
Savills (Malaysia) has been appointed as advisor to 1MDB and has prepared a detailed Information Memorandum for distribution.
Suitably qualified potential purchasers are invited to register their expressions of interest with Savills (Malaysia) for this tender process.
The 1MDB land parcel in Pulau Indah, Mukim Klang, Selangor, is on a single large development site, measuring approximately 318 acres. It is adjacent to the Port Klang Free Zone (PKFZ) and other industrial developments.
The sale of Pulau Indah land is part of the rationalisation plan presented to Cabinet on 29 May 2015. 1MDB is pleased to update that the overall plan is proceeding smoothly, with shortlisted bidders currently conducting detailed due diligence on Edra Energy and Bandar Malaysia respectively.