News & Articles The GDV for Ampang Ukay will exceed RM5bil, according to a revised masterplan by the developer, EcoFirst
The GDV for Ampang Ukay will exceed RM5bil, according to a revised masterplan by the developer, EcoFirst
8 Apr 2022
EcoFirst Consolidated Bhd's flagship Ampang Ukay township project in the upscale enclave of Bukit Antarabangsa will see the gross development value (GDV) exceed the current estimated RM5 billion under a revised masterplan.
The new masterplan will consider the township's benefit from the construction of the Mass Rapid Transit Line 3 (MRT3), said the company's alternate director Datuk Kenneth Teoh Seng Kian.
EcoFirst's landbank in Ampang is located 300 metres from the proposed MRT3 Hill View station.
The construction of the MRT3 was approved by Prime Minister Datuk Seri Ismail Sabri Yaakob on March 4.
The MRT3 preliminary plan calls for 30 stations, 10 of which will be MRT interchange stations, light rail transit (LRT), and KTM Komuter lines.
According to Teoh, the refreshed masterplan will be unveiled in the second quarter of 2022 (Q2 2022).
Teoh said that the MRT3 development will be a game changer for the company because properties near MRT stations will appreciate in value.
"As a property developer, we will do our part in creating job opportunities and stimulating the economy, therefore, we are revising our masterplan. Our new masterplan will be more comprehensive as we intend to transform Ampang to become a sought-after and fully self-sufficient premium township," he said in a statement today.
Ampang Ukay will be built in seven phases over 15 years on 87 acres.
The first phase, Liberty @ Ampang Ukay, with a GDV of RM606.8 million, is completely sold out.
Liberty @ Ampang Ukay is made up of 1,632 residential SOHO units starting at RM350,000 and 38 retail units. Homebuyers have received their units.
The new masterplan will consider the township's benefit from the construction of the Mass Rapid Transit Line 3 (MRT3), said the company's alternate director Datuk Kenneth Teoh Seng Kian.
EcoFirst's landbank in Ampang is located 300 metres from the proposed MRT3 Hill View station.
The construction of the MRT3 was approved by Prime Minister Datuk Seri Ismail Sabri Yaakob on March 4.
The MRT3 preliminary plan calls for 30 stations, 10 of which will be MRT interchange stations, light rail transit (LRT), and KTM Komuter lines.
According to Teoh, the refreshed masterplan will be unveiled in the second quarter of 2022 (Q2 2022).
Teoh said that the MRT3 development will be a game changer for the company because properties near MRT stations will appreciate in value.
"As a property developer, we will do our part in creating job opportunities and stimulating the economy, therefore, we are revising our masterplan. Our new masterplan will be more comprehensive as we intend to transform Ampang to become a sought-after and fully self-sufficient premium township," he said in a statement today.
Ampang Ukay will be built in seven phases over 15 years on 87 acres.
The first phase, Liberty @ Ampang Ukay, with a GDV of RM606.8 million, is completely sold out.
Liberty @ Ampang Ukay is made up of 1,632 residential SOHO units starting at RM350,000 and 38 retail units. Homebuyers have received their units.
Source: NST.com.my
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