Eco World still positive on Iskandar property outlook

Eco World Development Group Bhd remains upbeat on the property outlook in Iskandar Malaysia despite news reports on the slowdown in the property segment in the economic growth corridor.

Chairman Tan Sri Liew Kee Sin said Iskandar Malaysia would continue to offer good growth prospects for the company in years to come.

This is based on the on-track progress and development taking place in the region.

He said the company would be launching three new projects in Iskandar Malaysia with a combined gross development value (GDV) of RM8.4bil this year.

“The projects reflect our strong commitment in Iskandar Malaysia and they will keep us busy for the next eight years,’’ Liew told a press conference yesterday.

He said this at the opening of EcoWorld Gallery @ Singapore at Orchard Road here by Malaysian High Commissioner to Singapore Datuk Zai Yaacob.

Liew said the gallery would be a one-stop show centre showcasing the company’s projects in Kuala Lumpur, Penang, Iskandar Malaysia, London and Sydney.

Also present at the event were EcoWorld president and chief executive officer Datuk Chang Khim Wah, executive director Datuk Voon Tin Yow and chief executive officer (international business) Datuk Teow Leong Seng.

“Iskandar Malaysia contributed RM1.8bil last year out of the RM3.2bil in total sales value for our company and we hope to maintain the figure (RM1.8bil) this year,’’ added Liew.

He said the property segment in Iskandar Malaysia was no different from the sector in London and Sydney where the company had to compete with players from all over the world.

Meanwhile, Chang said Eco Tropics and Eco Business Park III projects were located in the Eastern Development Zone of Iskandar Malaysia in Pasir Gudang on 303.51ha and 101.11ha respectively.

“We are planning to launch Eco Tropics with a GDV of RM3.4bil and Eco Business Park III, which has a GDV of RM2bil within the next two months,’’ he said. - By The Star