Eco World on track to achieving RM3bil sales target

Eco World Development Group Bhd is optimistic of achieving its 2015 sales target of RM3bil despite the current challenging economic environment.

President/chief executive officer Datuk Chang Khim Wah said as of August this year, the group had recorded total sales of RM2.37bil from its mixed development projects launched nationwide.

“We are quite confident of achieving our sales target, given the overwhelming response to our projects in the Klang Valley and Iskandar Malaysia, Johor," he told reporters after the group's EGM yesterday.

He said among the hot-pick projects for Eco World currently were Eco Sanctuary, Eco Majestic in the Klang Valley, Eco Tropics in Iskandar Malaysia and Eco Meadows in Penang.

During the EGM, Wah said the group received shareholder nod for the proposed development of 181.96ha of leasehold land in Batu Kawan, Penang, for RM796.27mil.

The mixed-development project, named Eco Marina, was expected to have an estimated potential gross development value of RM10bil over the next 10 years, he said.

“The first phase of the project will be launched by end of next year, starting with residential development, mostly landed houses,” he said

On outlook for 2016, Wah said the group still expected to see demand from buyers despite the expectation that the market would remain challenging.

“We know the market will be challenging next year, but looking into sales that we achieved so far, even in the last two months at all our sales galleries, we see the demand is still quite good,” he said. – (The Star)