Ekovest launches KL River City project, shares jump

KL River City project launched: From left are Datuk Mohd Najib Mohd; Datuk Seri Lim Keng Cheng; Datuk Seri Utama Tengku Adnan Tengku Mansor; Tan Sri Lim Kang Hoo; Datuk Seri Adnan Md Ikshan and Datuk Dr Md Nasir Md Noh.

KUALA LUMPUR: Ekovest Bhd had on Tuesday launched the KL River City project which is set to revive and transform the northern part of Kuala Lumpur.

At the midday break, shares in the construction company and the warrants WB rose eight sen each to RM1.13 and 78.5 sen.

Ekovest said the project aims to rejuvenate and transform Northern Kuala Lumpur into a world class destination. 

The KL River City will also see the rehabilitation and transformation a 2.2km stretch of Gombak River to provide riverfront lifestyle and serene landscape for the public to enjoy. 

Ekovest said the KL River City is positioned within Precinct 1 & 2 of the River of Life (ROL) and near KL Sentral, KLCC and the upcoming Tun Razak Exchange and Bandar Malaysia. 

What the River of Life will do is that it will redefine Gombak River’s identity and rebuild its redevelopment strategy by transforming it into a vibrant and liveable riverfront a world class tourist destination in northern Kuala Lumpur. 

When completed, the KL River City shall possess seamless integration with roads and urban public transportation system as well as serene landscape with self-sustaining developments.

Ekovest managing director Datuk Seri Lim Keng Cheng said the KL River City would use a non-mechanical system to provide flood attenuation by channelling the flood water into a flood tunnel below the city (bypassing the river corridor itself). 

“With this system, the upper deck of KL River City will be able to allow water activities on the river bank throughout the year. This system will also provide an improved flood mitigation system in and around Kuala Lumpur City Centre,” he said.

Lim also said the KL River City will fully utilise gravity, to do this, thus dispensing the need for mechanical systems like pump, hence reducing the cost and space significantly. 

“With the implementation of KL River City, the surrounding area covering almost 320 acres has huge potential for future developments that will benefit all developers along the Gombak River,” he said.

Ekovest is among the many developers in the area. It has several development projects within the area, namely EkoTitiwangsa @ KL River City, EkoRiverCentre @ KL River City, EkoGateway @ KL River City, EkoQuay @ KL River City, EkoAvenue @ KL River City, with gross development value exceeding RM6bil. 

The Rive of Life, which will cover 110km in length, is a seven-year project under the Economic Transformation Programme for Greater Kuala Lumpur to resuscitate the Klang and Gombak rivers.

Among those present were Minister of Federal Territories, Datuk Seri Utama Tengku Adnan Tengku Mansor and Ekovest executive chairman Tan Sri Lim Kang Hoo, executive director of Kuala Lumpur City Hall (DBKL) Datuk Mohd Najib Mohd, Chief Secretary to the Ministry of Federal Territories Datuk Seri Adnan Md Ikshan and  deputy director general (I) of the Department of Irrigation and Drainage.