EcoFirst and AmBank Sign Financing Facilities for KL48 project in Chan Sow Lin, targeting city dwellers for innovative living space
(L-R) Christopher Yap, Managing Director of Business Banking, AmBank Group, Yeow Swee Yun, EVP Commercial Banking, AmBank Group, Dato’ Tiong Kwing Hee, Group Chief Executive Officer of EcoFirst Consolidated Bhd, and Tan Hon For, Chief Operating Officer of BCM Holdings Sdn Bhd at the signing ceremony held earlier at the Official Launch of KL48 Integrated Development
Friday, 19 May 2023 - EcoFirst Consolidated Bhd (EcoFirst) announced the official launch of its KL48 development, which is an integrated development designed to provide city dwellers, upgraders, and young professionals with an impeccable home in a vibrant district within the Kuala Lumpur City Centre.
In conjunction with the launch, EcoFirst has inked a project financing facilities with AmBank for the construction of KL48.
With an estimated gross development value (GDV) of RM1 billion, KL48 sits on a 4.18-acre freehold land in Chan Sow Lin and is due for completion in the second quarter of 2027 (2Q2027).
Comprising two 47-storey building towers and nine retail units, the Project features 1,700 units of serviced apartments with layouts ranging between 650 square feet and 850 square feet, and priced from RM503,000, at RM725 per square foot.
Dato’ Tiong Kwing Hee, Chief Executive Officer of EcoFirst said, “Finding the perfect home is one of the most important investment decisions that anyone can make. That is why we have designed KL48, a development that we believe will be coveted by many due to its prime and strategic location, the urban lifestyle it offers, as well as the potential it presents thanks to its proximity to KL City Centre and freehold status.”
“It is a testament to EcoFirst's commitment to delivering exceptional value to our customers. We are confident that this project will generate strong interest among homebuyers and inject new energy into rejuvenating the surrounding communities in Chan Sow Lin.”
Commenting on the project financing facilities, Christopher Yap, Managing Director of Business Banking, AmBank Group said, “We would like to congratulate EcoFirst Group on the successful launch of the KL48 project. In addition to AmBank Business Banking providing development financing, AmBank Retail Banking is providing end financing for this project.”
AmBank is also looking into expanding its facilities to EcoFirst’s business partners including their contractors and suppliers. As their primary financing partner, we look forward to providing the group with continued support in their next phase of growth," Christopher Yap added.
Tiong stated that the partnership with AmBank reflects a vote of confidence in EcoFirst's strengths and growth potential from the banking fraternity. This facility will aid in fulfilling the financial requirements and bringing KL48 one step closer to being a lifestyle hub for prospective homebuyers.
Standing tall in Chan Sow Lin, a crossroad connecting Kuala Lumpur with the Greater Klang Valley, KL48 is central to ample healthcare centres, education institutions, and recreation destinations, offering homeowners a cosmopolitan lifestyle with access to shopping, dining, and entertainment experiences catered for the upper middle class and successful professionals. Within its vicinity is KLCC, TRX, Bukit Bintang Centre, Royal Selangor Golf Club, Ampang Hilir Embassy Row as well as the proposed Bandar Malaysia which is positioned to be the future commercial hub for Kuala Lumpur. This strategic location provides residents with unparalleled convenience and connectivity to world-class amenities such as premier medical centres, international schools, and transport hubs.
Complementing the development is the easy access to major highways and roads, including Cheras Highway, Kuala Lumpur Middle Ring Road 2 (MRR2), East-West Link Expressway, Kajang-Seremban Highway, Sungai Besi Expressway, Kajang Dispersal Link Expressway (Kajang SILK Highway), and Cheras-Kajang Expressway. EcoFirst will also provide free shuttle service to the LRT and MRT station in Chan Sow Lin, enabling KL48’s future residents to easily commute to anywhere in the Klang Valley.
KL48 is thoughtfully designed with functional and liveable layouts to provide a conducive living, learning, working and playing space throughout the day, a requirement which has become increasingly necessary for the current generation of homebuyers who view their home more than just an after-hours shelter.
The development remains true to EcoFirst's comitment to creating innovative living spaces for prospective homeowners. KL48 offers residents the opportunity to enjoy stunning panoramic views of the city skyline, along with the added sophisticated Sky Lounge on Level 46 and the luxuries of a Sky Gym on Level 47. These facilities offer residents an exceptional workout experience and a perfect place to unwind in style while taking in the captivating scenery that the capital city has to offer.
Visit kl48.com.my for more information.