Ecoworld International Bhd remains committed to growing its presence in the local UK mid-market segment and BtR sector through its EcoWorld London joint venture, its chairman Tan Sri Azlan Mohd Zainol said in the 2021 annual report.
He said that acquired in 2018, EcoWorld London has built a strong reputation over the years among the key stakeholders in the London property scene.
“With our own development team on the ground, a stronger balance sheet at EcoWorld International will allow our UK business to select and evaluate new opportunities for growth as the market recovers,” he said
On the UK housing market, he said that it is likely to return to more normal levels of activity in 2022 with strong buyer demand and a rebound in the number of transactions due to pent-up demand.
He said that the market is also supported by a range of factors including government guarantees for mortgages and a pandemic-fuelled desire for a new lifestyle that has led many buyers to prioritise properties with bigger gardens and more rooms for working from home
“London’s fundamental appeal and unique selling points, which include its connectivity, global language, a first-class education (and large student market) along with its rich culture of history and tourism, will remain unchanged in the long term,” he said