EcoWorld Malaysia recorded RM2.873 billion sales after 3 quarters this year, and had surpassed RM3.11billion tillend August, this marks an increase compared the same period in 2020. For the third quarter sales jumped by more than RM1 billion enabling the group to surpass its full year target for 2021 of RM2.875 billion this also denotes a 35% increase in 10 months versus last year of RM2.3 billion.
Its future revenue remains high at RM4.1 billion – RM3.72 billion contributed by its Malaysian projects whilst EcoWorld Malaysia’s attributable share of EcoWorld International’s future revenue stands at RM386 million.
“Despite the implementation of MCO 3.0 followed by the FMCO during our 3Q 2021, we are very pleased to report that the Group has surpassed our FY2021 sales target in 10 months. Sales remained strong in all three geographic regions as well as across market segments which indicates the strength of fundamental demand for our projects and products,” said Dato’ Chang Khim Wah, President & CEO of EcoWorld Malaysia.
Success was attributed to extensive targeted and localised social media marketing efforts to drive better communication and engagement with homebuyers across a wide range of digital platforms. Active promotion of EcoWorld Malaysia’s commercial and industrial products which garnered strong take-ups from business owners and investors.
More than 80% of site workers are fully vaccinated, all of EcoWorld Malaysia’s construction sites are able to operate at full capacity.
As for EcoWorld International’s performance in 3Q 2021 “We continued to see steady improvement in sales in Australia and the UK in 3Q 2021. Although Yarra One in Melbourne experienced some rescissions, sales in West Village, Parramatta picked up substantially. On a net basis, sales of our Australian projects jumped from A$0.5 million in 2Q 2021 to A$16 million in 3Q 2021 on the back of buoyant local demand. In the UK, our sales grew by 5% in 3Q 2021 compared to 2Q 2021,” said Dato’ Teow Leong Seng, President & CEO of EcoWorld International.
Teow noted that demand from foreign and local buyers in London remained stable despite the introduction of an additional 2% stamp duty for foreign buyers in April 2021 and expiry of stamp duty holiday in June 2021.
EcoWorld Malaysia has secured approximately 8,325.3 acres of land bank with a total gross development value (GDV) of RM86.9 billion. Currently, EcoWorld Malaysia has a presence in the Klang Valley, Iskandar Malaysia
and Penang with 20 projects in total comprising a product range that includes affordable, upgrader and
luxury homes, integrated high-rise developments and green business parks.
