EcoFirst a beneficiary of proposed MRT3
KUCHING: Property company EcoFirst Consolidated Bhd (EcoFirst) is set to launch an enlarged masterplan for its Ampang township now that its landbank is a beneficiary of the third Mass Rapid Transit Line 3 (MRT3).
EcoFirst’s landbank in Ampang is some 300 metres away from the future Hill View station under the proposed plan of MRT3.
According to previous news reports, the preliminary plan for the MRT3 will include 30 stations, where 10 of them are MRT interchange stations, light rail transit (LRT) and KTM Komuter lines.
On March 4, Prime Minister Datuk Seri Ismail Sabri Yaakob confirmed that the construction of the MRT3 has been approved by the government.
Also known as the Circle Line, Ismail Sabri said that priorities for the MRT3 will be given to local contractors especially the Bumiputeras, in order to generate business and employment opportunities.
The crown jewel of EcoFirst’s landbank is its flagship development - the Ampang Ukay mixed development, which is a seven phased project on an 87acres of land situated in Ukay Heights.
This land was purchased a decade ago, and is extremely close to the upcoming Hill View MRT Station.
EcoFirst is a mid-sized property player with prime landbank in the Klang Valley, notably in Ampang, Sungai Besi, Shah Alam and Damansara Damai.
In recent years, EcoFirst had switched its focus to sell affordable houses to the M40 or middle class group of Malaysia due to the demand in this segment.
“In general, properties situated near MRT stations in Malaysia appreciate in value because of the convenience of connecting to all major business and entertainment hubs in Greater Kuala Lumpur,” EcoFirst alternative director Datuk Kenneth Teoh Seng Kian said on the relaunch of MRT3.
“We are extremely grateful for the MRT3 development. This is a gamechanger for us.
“As property developers, we will also do our part in creating job opportunities and stimulating the economy. We are in the midst of revising our masterplan.
“It will be a lot more comprehensive as we intend to transform Ampang to become a sought-a er and fully selfsufficient premium township.
“We will reveal this masterplan in the second quarter of this year.”
He disclosed that the original plan for the Ampang project had an estimated gross development value (GDV) of more than RM4 billion.