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.
The crown jewel of EcoFirst’s landbank is its flagship mixed development Ampang Ukay, a seven-phase project on 87 acres of land situated in Ukay Heights. This land was purchased a decade ago and is close to the site earmarked for 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 has 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 in value 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 of more than RM4 billion.