Ekovest plans new development projects worth RM2b

KUALA LUMPUR (Apr 17): Ekovest Bhd is planning to develop and construct projects across the Greater KL area over the next 2-3 years, which will have a gross development value (GDV) of almost RM2 billion.

The projects are slated to be complete by 2017.

Ekovest's managing director Lim Keng Cheng said one of the developments, named EkoCheras, would have a GDV of RM1.6 billion.

"We plan on launching EkoCheras by the third quarter of this year. Another project of ours - EkoSetapak - will be launched in 2014," he said, speaking to press after the group's extraordinary meeting today.

Ekovest's current orderbook stands at about RM400 million.

The group also has a landbank of about 30 acres in Kuala Lumpur and 25 acres in Johor's Danga Bay area.

"Currently we have no plans on doing anything with our Johor landbank. We prefer to keep it as a reserve," said Lim.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.