(From left) China Construction Eighth Engineering Division Corp Ltd deputy general manager Sun Jian Wen, China State Construction Engineering (M) Sdn Bhd Southeast Asia regional representative Lyu En, EcoFirst Consolidated acting deputy CEO Wilbert Goh and EcoFirst Consolidated executive director Datuk Kenneth Teoh during the signing ceremony at Le Meridien Kuala Lumpur on Tuesday, Dec 5, 2023. (Photo by Patrick Goh/The Edge)

KUALA LUMPUR (Dec 5): EcoFirst Consolidated Bhd (EcoFirst) has awarded a RM389 million contract to China State Construction Engineering (M) Sdn Bhd for the superstructure works of serviced apartment KL48 in Chan Sow Lin, Sungai Besi.

“This partnership with China State Construction Engineering marks a significant step toward realising our vision for KL48... This collaboration is not just a contract; it is a shared vision, a fusion of minds and expertise that aims to redefine industry standards,” said EcoFirst acting deputy chief executive officer Wilbert Goh.

The partnership was sealed through a signing ceremony between EcoFirst and China State Construction Engineering, held on Tuesday at Le Meridien Kuala Lumpur.

KL48 sits on 4.18 freehold acres of land and has an approximate gross development value of RM1 billion. It will have a total of 1,700 units of two types, with built-ups of 650 square feet (sq ft) and 850 sq ft. The selling price starts from RM500,000.

Goh said: “Since its official launch in May 2023, the response has been nothing short of phenomenal, with an impressive 80% take-up rate as of today”.

The project has progressed steadily since its groundbreaking in 2022. Piling and pile cap works are scheduled to be completed by this month (December) and basement works are on track for completion by February 2024. KL48 is expected to be completed by 2Q2027.

In addition to KL48, Goh provided an update on their Ampang Ukay development land. He revealed that there won’t be any new launches in Ampang Ukay any time soon, due to an upcoming MRT3 station.

“At the moment, we cannot do any launching because there will be an MRT3 station located nearby our land [and] the Selangor state government is in the midst of rezoning the land,” he added.

The rezoning includes a portion of EcoFirst’s Ampang Ukay development land. As such, Goh said that new launches in Ampang Ukay will probably take place in the next two years, after the rezoning is completed.

Additionally, EcoFirst is also looking for pockets of land in Klang Valley. “We are also in the midst of negotiation with a few landowners for joint ventures or outright purchase,” Goh concluded.