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21/04/2015

EcoWorld to develop RM10 Billion project in Batu Kawan

PENANG: Eco World Development Group Berhad [EcoWorld] today accepted a letter of award from the Penang Development Corporation to develop 450 acres of land situated at Bandar Cassia in Batu Kawan, Seberang Perai into a mixed development project including an 18-hole golf course.

To be known as Eco Marina, the development comprises two parcels of land. The first parcel of approximately 300 acres will be a mixed development of residential and commercial properties while the second parcel, measuring approximately 150 acres, will be turned into an international standard golf course with a club house. The development has an estimated gross development value of RM10 billion.

EcoWorld will be purchasing the first parcel and leasing the second parcel for a total consideration of approximately RM796 million.

Chairman of EcoWorld, Tan Sri Liew Kee Sin said “We are delighted to be awarded this project following an open tender conducted by the Penang Development Corporation. At 450 acres in total, the development of Eco Marina provides EcoWorld with a fantastic opportunity to showcase the full spectrum of our master planning and township development capabilities in Penang.”

President & CEO Dato’ Chang Khim Wah accepted the letter of award on behalf of EcoWorld from Dato’ Rosli Jaafar, General Manager of Penang Development Corporation in a simple ceremony witnessed by YAB Tuan Lim Guan Eng, Chief Minister of Penang and Tan Sri Liew. The event was held in conjunction with the Chief Minister’s visit to EcoWorld Gallery, Macalister.

Sharing more about Eco Marina, Chang said EcoWorld was looking forward to introducing a new township on mainland Penang that would set new benchmarks in the property scene up north.

“We are looking at creating a world class development with this site. As it is, the site presents some unique advantages that include a 2.5km coastline on the north-western boundary. Along with the 150-acre golf course to be developed on the south-eastern flank, this enables EcoWorld to craft a truly one-of-a-kind gated and guarded landed strata development,” he shared.

As its name suggests, Eco Marina will offer stunning homes by the waterfront along with a jetty for yacht moorings. Coupled with hotels and a retail component, Chang says Eco Marina has great potential to become one of the most sought after residential and commercial addresses in Malaysia.