Topped out: (from left) Projek 57 co-founder Collin Swee, Star Media Group MD and CEO Datuk Seri Wong Chun Wai, Projek 57 co-founder Syed Sadiq Albar, Eco World director Datuk Noor Farida, Eco Sky divisional GM Evon Yap, Eco World chairman Tan Sri Liew Kee Sin, Kerjaya Prospek Group executive chairman Datuk Tee Eng Ho, Eco World executive director Datuk Voon Tin Yow, Eco World Foundation chairman Tan Sri Lee Lam Thye, Eco World president and CEO Datuk Chang Khim Wah and Eco World COO Datuk S. Rajoo at the topping out ceremony.
KUALA LUMPUR: Eco World Development Group Bhd is confident of hitting its RM4bil sales target for the current financial year ending Oct 31, 2017, supported by upcoming launches and sales from existing projects.
President and chief executive officer Datuk Chang Khim Wah said the company would launch three new projects within the remainder of its current financial year.
“We will be launching Eco Business Park 5 (Puncak Alam), Eco Horizon (Penang) and Eco Forest (Semenyih) soon,” he said after the topping out ceremony of the company’s Eco Sky development.
“Further to that, sales from our existing projects will help boost sales,” Chang said.
Eco Sky, a 9.6-acre freehold integrated commercial development with a gross development value of RM974mil, is the group’s maiden project in the Klang Valley.
The project was launched in November 2013.
Located off Jalan Ipoh, the residential component comprises three towers – Aurora, Basalta and Clarita. Eco Sky also has 144 retail and office lots, as well as a commercial pod.
Chang said about 85% of the total number of units from its three towers had already been snapped up.
He said prices of the units started from RM700,000.
The Eco Sky project will also comprise a 33,000-sq-ft community park, a 55,000-sq-ft one-of-a-kind landscaped space at the heart of its commercial centre, a private clubhouse, sky garden, a unique rooftop garden as well as a pedestrian covered walkway to the nearest Taman Wahyu KTM station.
Eco Sky is accessible via major highways such as the Duta-Ulu Klang Expressway, Kuala Lumpur Middle Ring Road 2 and New Klang Valley Expressway, and is about 15km away from the KLCC.
In conjunction with the group’s ongoing #AnakAnakMalaysia campaign, Eco World also draped the Aurora tower with two 55-metre long Malaysian flags.
Eco World posted a net profit of RM33.68mil in the second quarter ended April 30, marginally lower than the RM34.68mil achieved in the same period last year.
During the quarter, the company posted a 9% jump in revenue to RM670mil from RM614.6mil.
For the first half of its current financial year, Eco World’s net profit surged 171% to RM149.85mil against RM55.35mil a year ago. Its revenue rose 17.8% to RM1.26bil from RM1.08bil previously.
As at May 31, Eco World’s unbilled sales stood at RM6.32bil, with RM4.9bil contributed by its Malaysian projects and the remaining RM1.42bil being its effective share of sales secured by Eco World International Bhd, the overseas arm of Eco World.
