Eco World achieved RM1.7 bil sales as at end-May, on track to hit RM4 bil target

Shawn Ng | TheEdgeProperty.com
Thursday, 15 June 2017 16:50:15 PM

PETALING JAYA (June 15): Eco World Development Group Bhd had achieved total sales of RM1.705 billion as at end-May for its financial year ending Oct 31, 2017 (FY2017).

The developer announced today that the group’s six projects in the Klang Valley contributed RM1.33 billion while its seven projects in Iskandar Malaysia raked in RM331 million and its two projects in Penang contributed RM45 million.

Eco World president and CEO Datuk Chang Khim Wah said: “We are fortunate that our projects have been enjoying positive momentum especially the three large-scale developments in the Klang Valley that were launched at the end of the last financial year — Eco Ardence, Eco Grandeur and Bukit Bintang City Centre.”

He shared that the second half of FY2017 will see the launch of three new projects, namely Eco Forest and Eco Business Park V in the Klang Valley as well as Eco Horizon in Penang. These projects are expected to contribute towards the group’s sales in 4QFY2017.

“Based on sales secured to date and the plans which are underway for the next two quarters, we are confident that the group is well-positioned to achieve our sales target of RM4 billion sales in Malaysia for FY2017,” he said.

Among the projects by the developer, Eco Ardence has continued to attract buyers with the launch of its first commercial precinct called Ardence Crest on May 13. The precinct saw a solid take-up rate of 80% from the 120 units launched.

Comprising 160 lifestyle shop offices in total, the units offered consist of 2-storey intermediate lots with sizes of 22ft x 75ft and 26ft x 75ft, priced from RM1.8 million and RM2.2 million; and 3-storey corner lots of 42ft x 75ft, priced from RM4.8 million.

According to Chang, the shop offices were well received by purchasers as many wanted to ride on the pioneer advantage of owning the first commercial product in the township.

Meanwhile, Eco World has begun handing over the first phases of products sold at the end of last year, he added. “The target is to hand over approximately 4,700 units of properties sold to our customers by the end of this year and so far, we are well on schedule with more than 3,000 units already delivered to our buyers.”