KUALA LUMPUR: Eco World Development Group Bhd has reaffirmed its commitment to the Penang market with the acquisition of two parcels of land measuring 374.5 acres in Batu Kawan, Penang for RM875.24 million.
The lands which are strategically located within close proximity to the Second Penang Bridge will be developed into two townships known as Eco Horizon and Eco Sun.
Both these developments are expected to generate a combined gross development value of RM7.76 billion.
Chairman Tan Sri Liew Kee Sin said the proposed acquisitions are in line with its strategy of concentrating on the nation's three key main economic corridors which include Klang Valley, Penang and Iskandar Malaysia, Johor.
"In the case of Penang, the group's focus is on the mainland specifically the Batu Kawan growth corridor.
"This will complement the group's successful Eco Meadows township on the mainland which has achieved near-sold out sales of its first phase of terrace homes since its first launch in September," he said