EcoWorld makes maiden foray into Singapore property market with RM667mil land win
KUALA LUMPUR: Eco World Development Group Bhd has secured a prime residential site for S$208.1 million (approximately RM667.6 million) through a tender bid managed by the Urban Redevelopment Authority (URA).
EcoWorld Development Group has successfully secured a prime residential site in Singapore for a tender price of approximately RM667.6 million. The 4,283.4 sq m land parcel, located at Lorong Puntong/Sin Ming Avenue within the Bishan planning area, will be developed into residential condominiums or flats with a maximum permissible gross floor area of 11,994 sq m.
The acquisition is a 99-year lease and marks EcoWorld's maiden foray into the Singapore property market. The site's strong connectivity and proximity to key amenities, such as the Bright Hill MRT station and several retail and nature destinations, are expected to attract affluent upgraders and multi-generational families. EcoWorld's CEO, Datuk Seri Chang Khim Wah, expressed delight at the company's debut as a property developer in Singapore and highlighted the project's alignment with the company's strategy to expand its development pipeline and geographically diversify its earnings base.
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