Eco World says Singapore land purchase an ‘opportunistic buy’
The property developer says Malaysia remains its primary focus for its land banking activities.
Eco World Development Group Bhd, a Malaysian property developer, recently acquired land in Singapore for S$208.1 million (RM667.62 million) and described it as an "opportunistic buy" as the company's primary focus remains Malaysia. The tender for the 4,283 sq m plot at Lorong Puntong/Sin Ming Avenue in Singapore's Lorong Puntong was won by the group's wholly-owned subsidiary, Eco World Development (S) Pte Ltd. The site, with a 99-year lease, is intended for residential development, marking EcoWorld's maiden residential project in Singapore.
The management emphasized that Malaysia remains its key focus for land banking activities. EcoWorld's financial performance has been strong, with sales and earnings expected to hit record highs, fueled by an 11% rise in third-quarter net profit to RM112.16 million and revenue growth of 27.5% to RM971.53 million. As of August 31, 2026, the group's cumulative sales surpassed its FY2026 target of RM4 billion, reaching RM4.05 billion.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Eco World says Singapore land purchase an ‘opportunistic buy’ freemalaysiatoday.com
