Eco World Development Group Berhad's (EcoWorld Malaysia) strategy to significantly broaden its product offering has been successful, its president and chief executive officer Datuk Chang Khim Wah said.
The portfolio now comprises sizeable industrial and commercial portfolios, along with its sizable residential base, which combined, have enabled EcoWorld Malaysia to achieve RM1.35 billion in sales in the first four months of its current fiscal year 2023 (FY202), he said.
Chang said the company's business park segment was off to a strong start following a strategic sale of 92 acres of industrial lands at Eco Business Parks (EBP) II in Iskandar Malaysia (Johor) to the Haitian Group, an industrial equipment manufacturer from China.
He said EcoWorld Malaysia is gratified that the Haitian Group chose to work with the company when they were looking for a suitable site to establish a substantial manufacturing base in Malaysia.
According to him, this landmark deal is the result of many years of concerted efforts by the team to build up its network and actively pursue leads with multinational industrialists.
"The presence of such a large global player at our business park will have a highly catalytic effect to draw in other upstream and downstream businesses. Apart from accelerating development and value creation for the remaining lands at EBP II, large technologically advanced foreign direct investments such as that of the Haitian Group can generate positive spillover benefits for the State and broader community through the creation of higher value jobs and increased business opportunities for locals," he said.
Chang said in addition to the land deal, sales of the cluster, semi-detached homes, and service factories at EBP I & EBP III in Iskandar Malaysia, and EBP V in the Klang Valley, as well as smaller plots of industrial lands for built-to-suit factories at EBP V, contributed to the RM616 million achieved by the group's industrial segment.
Commercial products contributed RM182 million in sales which are about 41 per cent of the actual FY2022 full-year sales from this segment.
In the Klang Valley, shops and shop offices at Hana Square @ Eco Ardence saw good take-ups and in Iskandar Malaysia, sales picked up for retail, shop, and office units at Eco Galleria @ Eco Botanic, Eco Boulevard 2 @ Eco Botanic 2, Eco Palladium @ Eco Spring as well as Eco Biz 3 @ Eco Tropics.
The company's core residential business saw total sales of RM548 million in the first four months of FY2023.
Chang said demand remained strong for the company's CoHomes, Garden homes, cluster homes, terraces, and semi-dees available at Eco Majestic, Eco Forest, Eco Sanctuary, Eco Ardence, and Eco Grandeur in the Klang Valley, Eco Botanic 1 & 2, Eco Spring, Eco Tropics in Iskandar Malaysia and Eco Horizon in Penang.
Bukit Bintang City Centre's launch of the SWNK Houze serviced apartments and the continued sale of the Eden Condominium units at Eco Sanctuary added to the overall sales achieved, he said.
"Going forward we have many exciting new launches lined up," he said.