EcoFirst Bhd Launches Phase 1 of Ampang Ukay Development

EcoFirst Bhd Launches Phase 1 of Ampang Ukay Development

KUALA LUMPUR, March 3 — Ecofirst Consolidated Bhd today launched phase one of its RM5 billion gross development value (GDV) Ampang Ukay mixed development project, the Liberty Arc@Ampang Ukay.

Group Chief Executive Officer Datuk Tiong Kwing Hee said phase one comprised three towers of residential small office home office units and 32 retail units with a GDV of RM606.8 million over 2.63 hectares.

“Two of the three blocks have achieved a take-up rate of more than 90%. The third has a current take-up of 30 per cent and selling fast,” he told reporters at the launch here, today.

Offering compact, fully furnished units each measuring 450 square feet, Hee said phase one is scheduled for completion by 2019.

“This launch marks a major milestone in our next phase of growth. It is definitely a motivation for the team to move forward stronger than ever,” he added.

Ampang Ukay is serviced by strategic major roads and sandwiched between two affluent areas, namely Ukay Heights and Kelab Golf Darul Ehsan.

Ecofirst Consolidated is also expected to launch the second phase of the Ampang Ukay project by year-end, and comprising 378 units of affordable homes with a RM500 million GDV on 3.24 hectares of land.

Tiong said Ecofirst Consolidated will also launch the third phase in the second quarter, consisting of a fully commercial development on 4.05 hectares of land, with an estimated GDV of up to RM1 billion.

“The overall project consists of between 10-12 phases of 35.21 hectares and is expected to be fully completed in the next 10-15 years,” he added.

Ecofirst Consolidated’s unbilled sales currently stand at RM200 million and expected to last the next six months, while its landbank is at 40.06 hectares.

 

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