Ekovest obtains development order for RM2.6b EkoGateway
PETALING JAYA: Ekovest Bhd, which is in the construction, property development and infrastructure concession businesses, has obtained the Development Order (DO) for its RM2.6 billion property project – EkoGateway KL River City, which spans 14.5 acres in the northern region of Kuala Lumpur.
The DO covers three 42-storey serviced apartment blocks, one 42storey hotel and office block, two 36-storey serviced apartment blocks and a 27-storey civil service housing block.
Commenting on the DO, Ekovest managing director Datuk Seri Lim Keng Cheng said: “We are extremely pleased with the award of this DO, which means that on-site construction can immediately commence. The project, which will take a total of six years to complete, includes the construction of a block of PPA1M. This is in line with the government’s initiative to develop 100,000 housing units under the 1Malaysia Housing Projects for civil servants nationwide.”
Kuala Lumpur River City is a project that spans 3km along the Gombak River and is 5km from the city’s golden triangle.
It will be positioned within precincts 1 and 2 of the River of Life plan, which is a seven-year project under the Economic Transformation Programme for the Greater KL to resuscitate the Klang and Gombak rivers.
Additionally, after the completion of this project, the government will allocate RM130 million in the form of a facilitation fund to Ekovest. The fund was set up by the government to help bridge the private sector’s viability gap, with respect to private investments that have strategic impact and economic spillover.