Eco World Development Group Berhad, one of Malaysia’s fastest up-and-coming property companies, looks set to continue its stellar growth in the coming year.
Bolstered by a landbank of about 5,245 acres with a total gross development value of RM65 billion, Eco World looks primed to consolidate its position as one of the country’s top property firms and is on track to register RM7 billion worth of sales by 2016.
Chairman of Eco World Tan Sri Liew Kee Sin said despite current market conditions, the two-year-old group is positioned to continue charting new waters with its launch, growth and expansion plans.
“The strong support from our customer base has not only given us encouragement but the confidence to proceed aggressively with our planned new project launches this year,” Liew said in media briefing in Kuala Lumpur recently.
Projects under its belt
Eco World currently has 15 ongoing projects that are spread out over the Klang Valley, Iskandar Malaysia and Penang, as well as a strong pipeline of upcoming projects, namely Bukit Bintang City Centre, Eco Business Park II, Eco Meadows, Eco Marina and Eco Forest, to be launched over the next two years.
Its product range includes affordable, upgrader and luxury homes, integrated high-rise developments and green business parks.
Through Eco World International Berhad, the brand has also extended its reach to London, United Kingdom and Sydney, Australia with several exciting launches lined up for this year.
For 2015, Eco World announced that the group had achieved sales amounting to RM1.187 billion as at May 31 for its financial year ending Oct 31, 2015.
The group’s Klang Valley projects contributed RM622.8 million whilst RM563.8 came from its Iskandar Malaysia projects.
Ongoing projects that contributed to its bottom line include Eco Majestic, Eco Sky and Saujana Glenmarie in the Klang Valley; Eco Botanic, Eco Spring, Eco Summer, Eco Business Park I and Eco Tropics in Iskandar Malaysia.
To add to its impressive roster of development projects, Eco World launched four new projects concurrently on June 13, 2015.
Eco Sanctuary, the group’s first luxury township in the Klang Valley, features landed terraced villas, semi-Ds and bungalows offering the best in modern eco-living.
Eco Terraces, the group’s maiden launch in Penang, offers exclusive low-density apartments nestled within beautifully landscaped parks and waterways set against a naturally occurring waterfall.
Down south in Iskandar Malaysia, the revised master plans for Eco Tropics and Eco Business Park III were also unveiled.
In Iskandar Malaysia, the group’s three residential projects of Eco Botanic, Eco Spring and Eco Summer, and its first green business park Eco Business Park I have also performed extremely well.
Strong sales have been recorded to local homebuyers, business owners, Singapore-based small and medium scale enterprises and multinationals, while there has been increased interest shown by foreign purchasers as well.
As part of its efforts to expand its international customer base, the group opened the EcoWorld Gallery@Singapore in May 2015.
This strategically located sales gallery on St. Martin’s Drive close to the shopping an tourist belt of Orchard Road will enable EcoWorld to better serve its growing Singaporean customer-base whilst also providing it with increased opportunities to reach out to a much wider international audience.
The road ahead
President and chief executive officer of Eco World Berhad Dato’ Chang Khim Wah said the product launches have received overwhelming response, supported by the opening of impressive new sales galleries at each project location to display the overall concepts, detailed master plans and unique architectural language of individual units.
In addition, the group unveiled a new show village at Eco Tropics, Iskandar Malaysia showcasing classic homes inspired by the timeless architecture of The Hamptons resort on Long Island, New York to draw discerning homebuyers to the fast-rising Pasir Gudang growth corridor.
“The group’s concerted efforts and significant investments to establish a signature EcoWorld brand identity through our numerous sales galleries and show villages, along with targeted and impactful marketing initiatives undertaken, have borne fruit,” said Chang.
On the group’s ongoing projects, Chang said its flagship Eco Majestic township in Semenyih achieved cumulative sales of more than RM1 billion less than 12 months from its launch in May 2014 and continues to register strong sales on all new phases launched this year.
The exceptional performance of this project is set to grow from strength to strength following the opening of the “Red Carpet” Bridge linking Eco Majestic to Exit 2102 of the LEKAS (Lebuhraya Kajang-Seremban) Highway.
Named for its red interlocking concrete pavers, the 118m-bridge is an integral part of a link road that connects the township’s north entrance to the Semenyih Toll at Exit 2102.
“The link road will shorten travelling time for those coming to Eco Majestic, as it will help motorists avoid much of the heavy traffic on Jalan Semenyih,” Chang reportedly said in an interview earlier this year.
With so many exciting projects in the works, Eco World is banking on being the key mover in the property field in Malaysia.