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Vision for Site A : "The Gateway @ KL Bund"

An exciting new Kuala Lumpur landmark, where living, nature, eat, shop, and play are next to each other. A unique retail destination with more than 1 million square feet of retail space surrounding a central water feature and canal that is connected to the River of Life. The Gateway @ KL Bund will also offer various type of high-rise living (SOHO, Studios, 2 to 3-bedroom units) that cater to the urban lifestyle of Kuala Lumpur people. The residences will command panoramic views of KLCC, parks, and water features. Finally, seamless integration with the proposed DUKE 2 Highway will allow The Gateway @ KL Bund to be well connected to the golden triangle and the rest of Kuala Lumpur.

Vision for Site B : "The Quay @ KL Bund"

A high-energy entertainment and lifestyle destination – The Quay. It’s where more than 200,000 square feet of entertainment and lifestyle offerings integrate with high rise living. This unique combination will become a tourist and local attraction throughout the day and night. With easy access to DUKE Highway, panoramic views of KLCC and Puah Pond, The Quay will be a preferred residential address. Situated on the right banks of the River of Life and within walking distance to Puah Pond, The Quay will open miles of trails, parks, and plazas to its new residents – promoting an active and healthy lifestyle.

Vision for Site C : "Park Place @ KL Bund"

Long river frontage, a new Central Park, views of Lake Titiwangsa and KLCC, convenient access to LRT – Park Place has it all. An unparalleled mixed use development, Park Place will combine offices, hotel and serviced apartments, residential, and retail all set within a park setting. A landmark 60-storey hotel tower, will capture the picturesque views of the park, the river, and KLCC. The proposed Duke Highway extension and KV MRT station, the development will have high connectivity to the greater Kuala Lumpur area.

14,012 Posts
Property development to keep Ekovest busy next year

Posted on December 22, 2012- Property News.

KUALA LUMPUR: Ekovest Bhd expects its property development division to keep the company busy next year with three main projects to be launched in the Klang Valley.

Ekovest’s principal business activities are the provision of civil engineering services, building works and investment holding.

Its managing director, Lim Keng Cheng, said the three main projects, the Eco Business Park in Cheras, The [email protected] Bund in Setapak and Menara Titiwangsa in Kuala Lumpur, had a gross development value of RM4.8bil.

He said given the existing robust property market in the Klang Valley, the property development activities were expected to contribute positively to the group’s performance.

“We’ve just set up the property development division. As our company’s financial ended June 30, 2012, we expect the division to start contributing to the company’s revenue by financial year 2014,” he said.

Lim said the company’s construction projects in the Iskandar region were ongoing and were expected to be completed by the end of the current financial year.

“We are cautiously optimistic that with the long-term presence in the Iskandar region and the coming on stream of various mega projects under the Economic Transformation Programme, the group would be able to secure construction works from both private and government sectors,” Lim said. — Bernama


14,012 Posts
RM1.6b Eco Business Park development for Ekovest
By Esther Lee & Isabelle Francis of

Monday, 24 December 2012 09:36

KUALA LUMPUR: Ekovest Bhd will be focusing on its RM1.6 billion development project in Cheras, Kuala Lumpur, called the Eco Business Park, next year. It had already received the necessary land development order.

"The project will be completed at the same time as the Mass Rapid Transit (MRT) project, the completion date expected to be in 2017. This is because the land in Cheras has direct access to the proposed MRT," said Ekovest managing director, Lim Keng Cheng, after the company AGM last Friday.

The company will have its hands full next year as it has two other projects in Kuala Lumpur — The Gateway @ KL Bund in Setapak and Menara Titiwangsa — which have a collective gross development value (GDV) of RM3.24 billion. These projects are expected to be completed in the next seven years.

In addition, its construction arm also recently entered into a supplemental concession agreement with the government for the extension of the Duta-Ulu Kelang Expressway (Duke) worth RM1 billion.

It expects income from its Eco Business Park and the Duke Highway extension to be reflected in the 2014 financial year.

Ekovest will hold a 70% indirect shareholding in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd — the concession holder of the Duke Highway — upon completion of the company's share exchange agreement with Wira Kristal Sdn Bhd.

"We hope we can get the concession contract for Duke Highway. The completion of the share swap is expected to take place at the end of the first quarter of 2013," said Lim.

Additionally, Ekovest also expects contribution from its joint-venture company, Ekovest-MRCB JV Sdn Bhd, which is the project delivery partner (PDP) for the RM1 billion River of Life (ROL) project.

"About 20% of the job is work in progress, mostly consisting of river cleaning work done by agencies. We are expecting the river beautification job ( to be awarded) sometime in 2013 after public engagement," said Lim.

Lim also said it is currently bidding for RM1 billion worth of jobs in Danga Bay, Johor, where Ekovest had earlier secured some contracts with outstanding jobs of some RM100 million currently.

"We are tendering for some reclamation and building works. The results for the tender will be out in 2013," he added.

Danga Bay is a waterfront development in Johor and one of the highlights of Iskandar Malaysia. The project is spearheaded by Iskandar Waterfront Holdings Bhd, privately controlled by Tan Sri Lim Kang Hoo and state-controlled Kumpulan Wang Persaraan (Diperbadankan).

Interestingly, Lim said Ekovest is also planning a commercial development that is estimated to carry a GDV of RM2 billion on a 25-acre plot in Danga Bay.

"We have to see how our development can fit into Danga Bay's master development," he said, adding that plans are still at a very preliminary stage.

Ekovest posted a record net profit of RM72.64 million for the financial year ended June 30, 2012, up 198% from just RM24.35 million recorded a year ago.

Revenue jumped 63% to RM208.95 million from RM128.17 million.

For the first quarter ended Sept 30, 2012, Ekovest posted a net profit of RM8.37 million or 4.68 sen per share, a 29% increase from RM6.51 million in the previous corresponding quarter. Revenue dipped by 32% to RM21.82 million from RM31.86 million.

This story first appeared in The Edge Financial Daily edition of Dec 24, 2012.

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