EcoWorld announces RM2.37 Billion sales achieved in 10 months. Sales target of Rm3 Billion for FY2015 maintained
Shah Alam: Eco World Development Group Berhad (EcoWorld) today announced it had achieved year-to date sales of RM2.37 billion as at 31 August 2015 for its financial year ending 31 October 2015.
RM1,357 million were contributed by projects in the Klang Valley and RM964 million came from Iskandar Malaysia with sales growing by RM1,185 million in the 3-month period of June-August 2015.
“The sales achieved of RM2.37 billion were contributed by our existing projects as well as four new projects launched on 13 June 2015 in the Klang Valley, Iskandar Malaysia and Penang,” shared Dato Chang Khim Wah, President & CEO.
In June, the Group lanched its first luxury township in the Klang Valley called Eco Sanctuary. The first phase offering landed terraced villas, semidees and bungalows received overwhelming response and succeeded in achieving sales of RM581 million.
“The strong reception from the upgrader market in this matured corridor is testament to the project’s well-thought through development concepts and attention to detail in the design of each precinct and individual home which seeks to offer residents the very best in modern eco-living,” shared Chang.
Meanwhile, the Group’s flagship township in the Klang Valley Eco Majestic in Semenyih continued to draw market attention. Its new release of terrace homes were also well taken up and the launch of its 2-storey shop offices in the second quarter has achieved 100% sales conversion.Â
The township received a boost in its connectivity with the opening of Exit 2102 off the LEKAS Highway in August. “This has cut down more than 20 minutes of travelling time to Eco Majestic via the Red Carpet Bridge entrance on the northern boundary of Eco Majestic,” Chang explained.
He added that the township’s connectivity is set to improve further when the Eco Majestic Interchange, which offers direct access to the LEKAS Highway via its south-western flank, is completed at the end of 2016. Including the original access from Jalan Semenyih, there will be three major entry points into the township which bodes well for the future commercial vibrancy of the development.
Down south in Iskandar Malaysia, the Group recorded RM400 million sales in the months of June to August. The concurrent launch of Eco Tropics and Eco Business Park III in the Pasir Gudang corridor contributed RM245 million to sales.
Elsewhere, the Group’s other projects in Iskandar Malaysia – Eco Botanic, Eco Spring & Eco Summer and Eco Business Park 1 in the Nusajaya and Tebrau corridors contributed combined sales of RM155 million over the last three months.
Chang said the strong result amidst current soft market conditions validates the Group’s decision from the very outset to focus on townships and green business parks which remain the most resilient segments of the property market.
It also demonstrates continued buyer confidence in the Group’s products particularly with Malaysians working in Singapore, homeowners looking to buy landed residential properties and SMEs/MNCs seeking to relocate or expand their operations in Iskandar Malaysia.Â
Up north in Penang, the Group’s maiden project of Eco Terraces was also well received following its mid-June launch. The unique concept with only 333 exclusive low-density apartments nestled within beautifully landscaped parks and waterways with a naturally occurring waterfall offers an exciting new lifestyle proposition for Penangites.
Chang said the Group was confident that response will continue to improve as construction progresses and the project’s inherent appeal becomes more apparent to the discerning homeowner.
Although the remaining months of FY2015 will be challenging, we believe that there will still be demand for good quality products in the right location.
“We remain confident in meeting our sales target of RM3 billion for the current financial year. To achieve this the Group will continue to invest in innovative campaigns to further raise the EcoWorld brand profile and actively market our 10 ongoing projects,” said Chang.
The Group’s immediate future plans also include the launch of Eco Meadows on the Penang mainland and Bukit Bintang City Centre (BBCC) in Kuala Lumpur which will establish a solid foundation for its future growth.