KUALA LUMPUR: Ekovest Bhd is set to generate some RM16 billion in gross development value (GDV) from projects within a bigger plan to rejuvenate and transform a 2.2km stretch along the Gombak River, here.
Ekovest, controlled by Tan Sri Lim Kang Hoo, yesterday kicked off the KL River City (KLRC) project, which will provide riverfront lifestyle and serene landscape for the public.
It is part of the massive River of Life (RoL) development under the Economic Transformation Programme for Greater Kuala Lumpur covering 110km over seven years to resuscitate the Klang and Gombak rivers.
Ekovest has been given 12.14ha within the KLRC development for its efforts.
“With the land swap package, we can generate over RM9 billion in GDV (from the 12.14ha), which is 10 times the cost of the land given to us,” said Ekovest managing director Datuk Seri Lim Keng Cheng after the launch of the KLRC project.
Besides the 12.14ha land swap, Ekovest has an existing 12.14ha within the site.
It is developing several properties, namely EkoTitiwangsa, EkoRiverCentre, EkoGateway, EkoQuay and EkoAvenue with an estimated GDV of RM6.5 billion.
In a statement, the company said KLRC is positioned within Precinct 1 and 2 of the RoL.
It is just a short drive from major city hubs such as KL Sentral, KLCC and The Golden Triangle as well as the upcoming Tun Razak Exchange and Bandar Malaysia.
“The master plan framework 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.
“Upon completion, KL River City would possess seamless integration with roads and urban public transportation system (Duta–Ulu Klang Expressway, mass rapid transit, light rapid transit and water taxi), as well as serene landscape with self-sustaining developments, thereby cementing its position as a world-class river city,” it said.