BY CHERYL POO

For instance, over the course of three to four weeks, we had about 200,000 people visit the Eco Majestic development when we launched a marketing campaign. “Interest remains high,” its president and chief executive officer Datuk Chang Khim Wah told reporters at the Invest Malaysia 2016.

KUALA LUMPUR: Eco World Development Group Bhd expects sustained demand for its properties to propel sales growth over the next two years, despite concerns of a slowdown in the sector.

The group is projecting its sales to grow to RM4bil this year and to continue to expand to RM4.5bil in 2017. Last year, the property player raked in sales of RM3.02bil.

“We see the market to be still quite strong for us.

“In the locations where we have properties, our sales galleries are packed every weekend.

For instance, over the course of three to four weeks, we had about 200,000 people visit the Eco Majestic development when we launched a marketing campaign.

“Interest remains high,” its president and chief executive officer Datuk Chang Khim Wah told reporters at the Invest Malaysia 2016.

Chang said the company would ramp up some launches by mid-year in anticipation of a ready market for its products.

“We wouldn’t be expecting a “rebound” per se as the market has been consistently strong.

“It would be a continuation of what we were doing last year.”

Currently, Eco World did not own any overseas properties as any developments outside of Malaysia would come under Eco World International Bhd (EWI), which is undergoing its listing exercise.

Eco World has made known its intention to take up a 30% shareholding in the international entity but its investment outlay for the stake has yet to be announced.

“We are very prudent with our balance sheet as both entities – Eco World and EWI – are both on a fast track growth track in Malaysia and overseas.

By keeping the entities separate and inviting strategic partners, we can grow both fronts. And by using the brand name Eco World, we can do cross branding,” Chang said.

Asked why EWI would be listed in Malaysia when it was undertaking overseas projects, Chang said the local market was the company’s best place to do business, being its place of origin.

“It’s where our supporters are,” he said.

Chang added that there were no plans to merge the two entities in the foreseeable future.