Eco World Development Group Berhad entered into a conditional sale and purchase agreement with IOI Prima Property Sdn Bhd to acquire 403.78 acres of land located in Johor for a purchase consideration of RM211.065 million to be settled in cash.
The land is said to be strategically located, and enjoys good connectivity to the Second-Link Expressway, Senai-Desaru Highway, Pasir Gudang Highway, Senai International Airport and various sea ports. It is also surrounded by matured townships that are well served by various amenities.
The Group plans to develop the land into a business park to be known as Eco Business Park VI with an estimated gross development value of RM1.58 billion, catering to medium and light industrial businesses. Commenting on the acquisition Dato’ Chang Khim Wah, President & CEO of EcoWorld Malaysia said, “This is a very opportune acquisition which enables the Group to ramp up our industrial portfolio in Iskandar Malaysia.
The group plans to benefit from the positive news flow surrounding Iskandar Malaysia given that it has numerous township projects there, namely Eco Botanic, Eco Botanic 2, Eco Spring and Eco Summer as well as Eco Tropics. With the addition of the new land, the Group will also have five sizeable industrial parks, comprising four in Iskandar Malaysia (EBP 1, II, III & VI) and one in Selangor (EBP V).
