KL River City.
Ekovest expands its highway network, incorporating developments that are purpose built to merge with public transportation.
By VIKNESH ASHLEY vikneshashley@thestar.com.my
EKOVEST Bhd is one of the more unique property cum construction companies in Malaysia, striving to build bridges between key aspects of the country, which are the community and public transport via the introduction of the company’s very own highways.
The developer is responsible for the Duta-Ulu Kelang Expressway (DUKE), an 18km expressway that stretches from the east to the west along the northern corridor of Kuala Lumpur.
“The DUKE is a concessionaire highway and not a designer highway, thus we aim to transport people who use our highways from point A to B in the most efficient time possible,” Ekovest Bhd managing director Datuk Seri Lim Keng Cheng explains.
The developer had also shaped two infrastructure developments in the works. One of these developments consist of the DUKE 2, comprising two links which include the Sri Damansara Link, connecting the MRR2 and DUKE expressway, which helps disperse traffic to and from MRR2 to the city center.
The TunRazak Link is also part of the second phase of the DUKE expressway, providing an additional dispersal link between DUKE and MRR1 expressway, thus creating an additional dispersal option for Jalan Tun Razak during congestion periods.
The next project that Ekovest is looking into is the Setiawangsa – Pantai Expressway, formerly known as DUKE 3. This 32.1km highway is supposed to link MRR2 at University Tunku Abdul Rahman (UTAR) to either the Federal Highway or the Kerinchi Link.
Connectivity to the following areas will be achieved via the aforementioned upcoming project; for example the MRR2 expressway, Wangsa Maju, the DUKE, Ampang Kuala Lumpur Elevated Highway (AKLEH), the Maju Expressway (MEX), Kampung Pandan and the City Centre, Bandar Malaysia, the New Pantai Expressway (NPE), Old Klang Road, Jalan Syed Putra, Federal Highway and the Kerinchi link as well.
Lim explains, “We do not build highways just for the sake of building highways. Ekovest has conducted several traffic studies, and transport master plans to identify the areas of Klang Valley that truly requires enhanced dispersal links to better allow people to move around the city.”
EKOVEST
Lim also plans to enhance the expressways with Park and Ride facilities that would act as appendices to MRT and LRT lines. The company would like to create a park and ride facility with more than one purpose.
“In line with our Park and Ride facility, we want to make life convenient for patrons that use these facilities. We plan to choose tenants such as supermarkets, keeping in mind that people can quickly buy their groceries just before they head home,” Lim enthuses.
Lim adds, “The concept is simple, after patrons disembark the LRT or MRT, they can directly access the Park and Ride building, head to the supermarket, shop and immediately drive away via an uncongested route.”
If the public wonders as to why Ekovest a property developer, is actively creating connectivity options for the nation? To this Lim said, “We want to be seen as an innovative company that provides holistic solutions for our clients as well as customers.
Ekovest had successfully ended their financial year on the 30th of June in 2016. The previous year had been eventful for the company which had recorded a profit of RM155mil backed by revenue of RM793mil.
“For the financial year 2017, we are expecting for the overall group performance to improve as we have begun construction works for the RM3.9bil Setiawangsa-Pantai Expressway,” Lim said.
Next Ekovest plans to expand their property development within EkoTitiwangsa. The developer plans to launch a dual block high end property, targeting oversea buyers.
“We plan to continually focus on releasing more transit oriented developments such as EkoTitiwangsa and EkoCheras. Developments such as these ensure that residents are well connected to not only highways but also public transport.
Additionally we have also pledged our interest in building the Perumahan Penjawat Awam 1Malaysia (PPA1M) for the government,” Lim said.
Ekovest still has many goals and ambitions to be explored as Lim explains, “we have many plans and aspirations for the company and most of them are achievable.”
“We currently own land banks in Johor and Pahang that had been acquired at a very minimal rate so, our holding power for those land banks are strong.
EKOVEST
Additionally we have the capability to hold on to these land banks until we can see a need for development in those areas. Once the surrounding areas of our land banks grow in terms of development, we will review accordingly,” Lim says.
When asked about the property outlook for this year Lim firmly stated, “Property is a good investment avenue for everyone. If one is equipped with the sufficient capital, wait no longer and take action right away as it is the best time to purchase property now.”
Lim adds, “The property market will not drastically dip and I foresee that the property market should either improve or recover to a certain extent between the third and fourth quarter of the year.”
Property buyers can look out for Ekovest developments here in Malaysia or overseas level. Lim said, “StarProperty.my Fair is still one of the biggest property expos. Consumers always look forward to seeing what we have to offer at the expo.”
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