PETALING JAYA: Property company EcoFirst Consolidated Bhd will launch an enlarged master plan for its Ampang township now that its landbank is a beneficiary of the third Mass Rapid Transit Line 3 (MRT3).
EcoFirst’s landbank in Ampang is 300 metres away from the future Hill View station under the proposed plan for MRT3.
According to news reports, the preliminary plan for the MRT3 will include 30 stations, where 10 of them are MRT interchange stations, light rail transit (LRT) and KTM Komuter lines.
Last month, Prime Minister Datuk Seri Ismail Sabri Yaakob confirmed that the construction of the MRT3 has been approved by the government. Also known as the Circle Line, the prime minister said that priorities for the MRT3 will be given to local contractors especially the bumiputera, to generate business and employment opportunities.
The crown jewel of EcoFirst’s landbank is its flagship development - the Ampang Ukay mixed development, a seven phased project on 87-acres of land situated in Ukay Heights. This land was purchased a decade ago and is close to the upcoming Hill View MRT Station.
EcoFirst is a mid-sized property player with prime landbank in the Klang Valley, notably in Ampang, Sungai Besi, Shah Alam and Damansara Damai. In recent years, EcoFirst had switched its focus to selling affordable houses to the M40 or middle-class group of Malaysia due to the demand in this segment.
EcoFirst alternative director Datuk Kenneth Teoh Seng Kian (pix) said properties situated near MRT stations in Malaysia appreciate because of the convenience of connecting to all major business and entertainment hubs in Greater Kuala Lumpur.
“MRT3 is a game-changer for us. We are in the midst of revising our master plan. It will be a lot more comprehensive as we intend to transform Ampang to become a sought-after and fully self-sufficient premium township. We will reveal this master plan in the second quarter of this year,“ Teoh said.
He disclosed that the original plan for the Ampang project had an estimated gross development value (GDV) of more than RM4 billion.