ECD1 set for 2022 completion
THE Empire City Damansara (ECD1) project in Petaling Jaya will undergo several changes and will be completed by 2022. There are four outstanding zones in ECD1, and its project owner and developer Mammoth Empire Holding Sdn Bhd (MEH) has formed a joint venture (JV) with Exsim Group to complete them.
The total gross development value (GDV) expected from these four zones, comprising mostly versatile suites and SoHos (small office/ home office), was RM800 million, said executive director Datuk Danny Cheah.
Part of the profit’s from MEH’s share in the JV would be utilised to complete Empire City Mall, Cheah told NST Property.
The two million square feet mall is now 80 per cent completed.
“Exsim has come in as our JV partner to complete the four zones, where the buildings are under construction. They will develop, complete and sell the units and there is profit-sharing among us. Our involvement is to support them and ECD1 in terms of infrastructure development.”
Cheah said in the future, ECD1 would have direct access from Penchala Link and Lebuhraya Damansara-Puchong.
“When DASH (Damansara-Shah Alam Highway) is completed by the end of next year, ECD1 will have direct access to the highway. The JV with Exsim is a fresh start for us, which will see things moving at a faster rate.
“When we look at ourselves now, we are a much stronger team with Binastra Construction Sdn Bhd, an architectural design and civil engineering firm, in the picture,” he added.
Cheah said MEH’s focus in the longer term is to manage the mall.
According to Exsim head of corporate communications at Michelle Siew, there are several changes being made to the original master plan for ECD1, which include converting some towers into multi-functional suites.
The facade of every building will have its own unique architectural design, she said.
Siew said the JV will launch this year two projects, called QUB and QUAD+, in ECD1.
“Both are suites towers with compact suite lay
out to cater to young professionals who aim to own a piece of property in Damansara. The units range from 300 to 500 sq ft. We have not determined the selling price, but they will be very affordable,” she told NST Property.
Separately, Exsim will launch two developments — Mossaz Tower and Paxtonz Tower — with a combined GDV of more than RM690 million in ECD1.
These developments are on 1.82ha land the group acquired from MEH this year.
Mossaz is a 38-storey tower and it will have 1,117 suites with six different layouts. The builtups range from 314 to 494 sq ft.
Paxtonz is a 28-storey tower with 775 suites. The built-ups range from 332 to 526 sq ft.
Siew said the gross selling price for the units is from RM300,000 each.
“We see pent-up demand for compact suites due to their versatility. Those who bought can use it to run their business and take a rest while at work. These suites are ideal for young working executives, freelancers and small business owners. We are very confident of this product. Registration for the two towers have reached 70 per cent in less than a month,” she added.
Both the towers are scheduled to be launched soon, which will be completed in two years.