Eco World upbeat on RM6b sales goal
KUALA LUMPUR: Eco World Development Group Bhd is bullish about achieving combined sales of RM6 billion under the Eco World brand in the current financial year ending October 31 2018 (FY2018).
Chief executive officer (CEO) Datuk Chang Khim Wah said RM3.5 billion would be contributed by local projects under Eco World, while the remaining would come from Eco World International Bhd (EWI).
“Despite the continuous market challenges, not just in Malaysia but also in the United Kingdom and Australia, we are optimistic of achieving the target,” he told a press conference held on the sidelines of Invest Malaysia 2018, here, yesterday.
As at end-October last year, the cumulative sales from projects in Malaysia, the UK and Australia exceeded RM21 billion, with annual sales having crossed the RM6 billion mark for the third consecutive year.
“Entering 2018, we are gaining more strength. In Malaysia, we have 18 ongoing projects and two pending launches,” said Chang.
Eco World expects to hand over some 10,000 units of properties by year-end and 15,000 units next year.
“For the past three years, we have attracted more than 2.8 million visitors to our sales galleries nationwide,” he said.
Meanwhile, EWI CEO Datuk Teow Leong Seng said the company had posted solid sales from three projects in the UK, namely London City Island, Embassy Gardens and Wardian London, despite the Brexit uncertainties.
He said in Australia it had nearly sold out the offerings at West Village in Parramatta, while the sales of Yarra One in Melbourne were expected to increase following the start of its construction.
Teow said the overall group sales target for FY2018 was RM2 billion, from five ongoing projects and new launches from projects under a joint venture with Be Living in the UK.
EWI would recognise its maiden profits this year, following the scheduled handover of two blocks of apartments at London City Island and one block in Embassy Gardens, he said, adding that the company had unbilled progress billings worth RM5.9 billion as at end-October last year.