Ekovest ob­tains de­vel­op­ment or­der for RM2.6b EkoGate­way

The Sun (Malaysia) - - MEDIA & MARKETING -

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.

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