By BUSINESS TIMES
SP Setia Bhd, one of the country’s biggest developers, is investing up to RM30 million to set up an integrated rail transport hub at its RM6 billion KL Eco City mixed development in Kuala Lumpur.
The company is building a KTM commuter station, which will be integrated with the existing Abdullah Hukum light rail transit (LRT) station at the project location by 2013.
Executive vice president Richard Ong said SP Setia is finalising the design proposals for the KTM station with the rail authorities.
“Subject to the authorities’ requirements, the KTM station is estimated to cost around RM30 million,” Ong told Business Times.
SP Setia, via its unit KL Eco City Sdn Bhd (KLEC), is developing KL Eco City on the former Kampung Haji Abdullah Hukum site at the end of Jalan Bangsar. The 10-year development will comprise several residential towers, offices and a 5.7 million sq ft retail podium.
Ong said KLEC has began preliminary site works such as earthworks, tests piles and relocation of existing utility services, including realignment of Sungai Pantai (river diversion works).
Substructure works such as piling and foundation are expected to commence in two months, said Ong, who is also KLEC project director.
Ong said these are part of the construction works for Phase One of the project, comprising 12 blocks of boutique offices, a strata office and a corporate office tower on a four-storey retail podium, worth almost RM2 billion.
SP Setia will construct a pedestrian bridge linking KL Eco City and The Gardens at Mid Valley City to enhance the development.
Meanwhile, SP Setia will invest RM150 million to link KL Eco City to the Federal Highway via two dedicated ramps.
The ramps will enable traffic heading towards Petaling Jaya and Kuala Lumpur to gain direct access into KL Eco City and to exit the development directly onto the Federal Highway.
There will also be linkages to Jalan Maarof in Bangsar via Lingkaran Syed Putra. KL Eco City will also have direct access to and from the New Pantai Expressway (NPE) via the existing Jalan Pantai Baru and Jalan Bangsar interchange.
Ong said SP Setia has procured all the necessary approvals from the relevant authorities on the design proposals for the ramps and the linkages.
“Tenders have been called and the evaluation process and award is expected to be completed in the next two to three months,” he said.
- Malaysia Real Estate News