Ekovest Bhd inks MOAs with key tenants for mixed development project

Ekovest Bhd inks MOAs with key tenants for mixed development project

KUALA LUMPUR, 18 July  — Construction company Ekovest Bhd has inked 17 Memorandums of Agreement (MoAs) with key tenants for its new mixed development, EkoCheras.

The tenancy mix of Ekocheras, also known as EkoCheras Mall, includes grocery, food and beverage, al fresco dining, fashion, health and fitness, entertainment, educational and electronics or information technology sectors.

“This (signing) is only the first phase, more will be coming,” said Ekovest Managing Director Datuk Seri Lim Keng Cheng.

Lim said currently, the occupancy rates range between 50% and 60%.

“We expect a full occupancy rate once the shopping mall starts its operations,” he told a press conference after witnessing the signing together with Minister in the Prime Minister’s Department Datuk Seri Dr Wee Ka Siong here today.

Earlier, Project Manager Christopher Yeo said that the shopping mall, with an estimated gross development value of RM2.11 billion, is expected to be completed in January, 2018.

He said the shopping mall, covering an area of 4.85 hectares (11.98 acres), would comprise 250 retail outlets with about 625,000 sq. ft. (58,064 sq. m.) of net lettable area, and 4,500 parking bays.

The shopping mall would also contribute to the infrastructure components in the area, namely through the Mass Rapid Transit (MRT) Link Bridge which connects to Taman Mutiara MRT Station and benefits 1,500 residents, he said.

Meanwhile, Wee, in his opening remarks, said domestic consumption is expected to moderate in the second half of 2016 due to a slowing economy on the back of external headwinds.

“Nevertheless, I encourage proactive efforts that create a value proposition to prepare us for a smooth sail when market sentiment picks up,” he said.

— BERNAMA

Share