Ekovest secures development order for RM2.6bil project

  • Business
  • Monday, 31 Oct 2016

Ekovest Bhd's EkoGateway@KL River City project.

KUALA LUMPUR: Ekovest Bhd, one of the project delivery partners for rehabilitating and beautifying the Klang and Gombak rivers, has received the development order for its EkoGateway@KL River City project with a gross development value of RM2.6bil.

The proposed development will be part of Kuala Lumpur River City, a project spanning 3km along the Gombak River. 

The company, which is involved in construction, property development and infrastructure concession businesses, said in a statement that EkoGateway, spanning 14.5 acres, would comprise five serviced apartment blocks of 36 and 42 storeys (1,504 units), a 42-storey hotel and office block, and a 27-storey block comprising 300 1Malaysia Civil Servants Housing Programme (PPA1M) units. 

Ekovest managing director Datuk Seri Lim Keng Cheng said the order would allow the company to begin on-site construction immediately.

“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 PPA1M nationwide.” he said.

Ekovest said after the completion of the project, the Government would allocate a RM130mil facilitation fund to it. 

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 huge economic spillover.
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