Kuala Lumpur City Hall (DBKL) intends to hire a subsidiary of Ekovest Bhd to design and construct the upcoming Blue River Project near the Jamek Mosque (Masjid Jamek) in the River of Life Precinct 7, reported The Star.
On Tuesday (14 March), the property developer announced in a filing with the local stock exchange that its unit EkoRiver Construction Sdn Bhd (ERCSB) received the city hall’s letter of intent regarding the proposed project.
“The project is subject to finalisation of its price, specification and terms to be negotiated between DBKL and ERCSB,” said Ekovest, estimating that the work contract would be worth RM79 million.
If there are significant developments in the work contract in the future, the company will make the necessary announcements in Bursa Malaysia, it added.
Notably, Ekovest holds a 60 percent in the joint venture firm that was appointed in 2011 to co-undertake the River of Life with the government. The remained 40 percent stake is owned by Malaysian Resources Corp Bhd (MRCB).
Image sourced from The Star
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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