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 (EcoWorld) has made its first overseas land purchase by winning a tender for a plot of state-owned land in Singapore. The group's wholly-owned unit, Eco World Development (S) Pte Ltd, secured the 4,283 sq m site at Lorong Puntong/Sin Ming Avenue with a winning bid of S$208.1 million (RM667.62 million).
This acquisition, while strategic for EcoWorld, is described as an "opportunistic buy" due to the site's location and potential for development. The property will be used for residential development once a development plan is finalized. EcoWorld remains focused on Malaysia for landbanking activities, with its total landbank exceeding 12,000 acres and an estimated gross development value of about RM100 billion.
The group's financial performance has been strong, with sales and earnings poised to hit record highs in its FY2026, and cumulative sales surpassing its fiscal year target of RM4 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
