Construction firm Ekovest launched the Kuala Lumpur River City (KLRC) project on Tuesday (18 July) to revive a 2.2km portion along the Gombak River within the capital, reported The New Straits Times.
Aside from beautifying the river bank and creating picturesque landscapes, the development also intends to foster a thriving riverfront scene.
This is part of the larger River of Life (RoL) project under the government’s Economic Transformation Programme for Greater KL. Expected to take seven years to complete, it involves breathing new life into a 110km stretch of the Klang and Gombak rivers.
As payment for undertaking the KLRC project, which is located within Precinct 1 and 2 of RoL, Ekovest will get 12.14 hectares of land within the smaller development.
“With the land swap package, we can generate over RM9 billion in gross development value (GDV), which is 10 times the cost of the land given to us,” said Datuk Seri Lim Keng Cheng, Managing Director of Ekovest.
Besides the 12.14ha land it obtained in KLRC, Ekovest already owns land within the vicinity with roughly the same size. On the existing land, the company is building several projects, namely EkoQuay, EkoGateway, EkoAvenue, EkoTitiwangsa and EkoRiverCentre. These developments have a combined GDV of around RM6.5 billion
Moreover, KLRC is just a short drive from Kuala Lumpur Sentral, the capital’s city centre and Golden Triangle, as well as the upcoming Bandar Malaysia project and Tun Razak Exchange (TRX).
“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,” said Ekovest.
“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 added.
Image sourced from NST
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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