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15/06/2017

EcoWorld achieves RM1.7 Billion sales in 7 months of FY2017

Kuala Lumpur: Eco World Development Group Berhad (EWDG) today announced it had achieved total sales of RM1.705 billion as at 31 May 2017 for its financial year ending 31 October 2017. The Group’s 6 projects in the Klang Valley contributed RM1.329 billion while its 7 projects in Iskandar Malaysia contributed RM331 million with RM45 million contributed by the remaining 2 projects in Penang.

President & CEO Dato’ 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. These were Eco Ardence, Eco Grandeur and Bukit Bintang City Centre (BBCC).”

Eco Ardence continued to attract buyers with the launch of its first commercial precinct called Ardence Crest on 13 May. Comprising 160 lifestyle shop offices in total, 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.

Each unit comes with double volume ceilings on the ground floor, which is suitable for food & beverage businesses, showrooms and retail boutiques, and has been designed to complement the lifestyle of residents whilst adding to the commercial vibrancy of the township as a whole.

Ardence Crest saw a solid take-up of 80% from 120 units launched. 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.

In the North-Western Klang Valley Corridor, Eco Grandeur saw more first-time buyers and upgraders drawn to its new show village. On 21 May, the project played host to the first ever cycling event organised together with the New Straits Times. The inaugural C-Cycle Challenge 2017 received overwhelming support with over 1,000 cycling enthusiasts including international cyclists and young families from all over the Klang Valley joining the race.

Meanwhile, at the heart of Kuala Lumpur, BBCC’s new sales gallery showcased its unique leisure-tainment offer through multiple parties, intimate concerts as well as investment-themed seminars in keeping with its Where Life / Work is Spectacular tagline.

In Iskandar Malaysia, a new EcoWorld Gallery was also opened at Eco Business Park II where business talks and networking events are regularly convened to enable the Group to better serve its growing business park customers down south.

Apart from these new projects, the Group also continued to build on its customer engagement activities with the launch of a group-wide campaign called My Happy Place which ran from March to May this year.

The campaign was inspired by EcoWorld’s mission of building vibrant, happy, well-networked and cohesive communities within all its developments.  The Group’s highly successful Flower Show made a comeback for the second year at Eco Majestic. The Illuminations Flower Show was the perfect platform to highlight the beauty of the living environment surrounding the homes in the township in Semenyih.

My Happy Place campaign also celebrated the richness and infinite variety of global culture and cuisine through the World Culture Festivals organised by Eco Spring, Eco Summer & Eco Tropics and World Cuisine Carnivals hosted by Eco Botanic, Eco Sanctuary & Eco Meadows.

“The level of interaction with our customers has certainly changed since we first came onto the property scene just over three years ago. Our team has been working hard to deliver on promises made when we first launched our projects in Iskandar Malaysia, Klang Valley and Penang.

We began handing over the first phases of products sold at the end of last year. The target is to handover 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,” Chang shared.

He added that the Group strongly believes that experience is key which is why “We go the extra mile to ensure that every customer is attended to with our warm EcoWorld hospitality from pre-sales to post-sales and even post-delivery.”

One of the notable customer service initiatives by the Group is the EcoWorld Residence Club (EWRC) – a one stop service centre that provides Property Care & Common Area Support Services. EWRC has been set up at every project which is due to be handed over to provide support services for all properties developed by EcoWorld and is entrusted with the responsibility of managing & maintaining EcoWorld developments.

EcoWorld’s endeavours to create holistic living environments with ample amenities for residents also received a boost during the second quarter.  In March 2017, a Memorandum of Understanding (MoU) was inked with the University of Reading Malaysia (UoRM) to collaborate on providing quality accommodation to students of the university at the Eco Nest serviced apartments within Eco Botanic. Thereafter, two MOUs were signed in April 2017 with Brainy Bunch International Islamic Montessori (Brainy Bunch) to explore the opportunity for Brainy Bunch to develop and operate an International School in Eco Grandeur and a Montessori Kindergarten in Eco Tropics.

Chang 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 the 4th quarter of FY2017.

“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 FY 2017,” said Chang.

On 3rd April 2017 EWDG completed its subscription for a 27% stake in Eco World International Berhad (EWI) in conjunction with its Initial Public Offering. As at 31 May 2017 EWI’s cumulative sales stood at RM6.738 billion based on exchange rates as at 31 May 2017.

This brings EWDG’s share of unbilled progress billings as at 31 May 2017 to RM6.317 billion, with RM4.898 billion contributed by its Malaysian projects and RM1.419 billion being its effective share of the sales secured by EWI.