This article first appeared in The Edge Financial Daily on October 2, 2017

SHAH ALAM: Eco World Development Group Bhd (EcoWorld) launched five new projects over the weekend in the Klang Valley and Penang under its DNA campaign.

The projects will carry the group’s DNA — design, nature and art — which embodies lifestyle-driven and eco-friendly developments with an artistic twist, to redefine living, business and leisure.

Out of the three launches, three are maiden projects namely Eco Forest in Semenyih with a gross development value (GDV) of RM3.5 billion, Eco Business Park V in Puncak Alam with a RM3 billion GDV — both of which are located in Selangor — and the RM7.76 billion Eco Horizon in Batu Kawan, Penang.

The other two launches are new phases within the group’s existing township developments comprising Phase 2 of Eco Ardence in Shah Alam called Dremien, and Whitten@Eco Majestic City in Semenyih.

“This is the second year we are launching several projects simultaneously. Response to the five new projects has been well-received by potential buyers so far,” EcoWorld president and chief executive officer Datuk Chang Khim Wah told The Edge Financial Daily here after the project launches.

More than 2,000 visitors flocked to EcoWorld’s sales galleries on Saturday, where sales and purchase agreements of units were signed.

“We are very confident that the five new projects launched represent the best of everything we have introduced to the market to date. We are optimistic about achieving our RM4 billion sales target for the financial year ending Oct 31, 2017,” said Chang.

“We find that the [property] market is still strong, and we are still optimistic that this is a good industry to be in, as long as you are in sectors and areas where there are employment, accessibility and amenities,” he added.

The 515-acre (208ha) Eco Forest is the group’s second project in the Semenyih corridor, anchored by a central park and lakes. The first phase of the project known as Ebonylane features A-frame designed double-storey terraced homes in gated and guarded precincts.

Chang said Eco Forest is targeted at first-time homebuyers and those looking to upgrade to a larger home and are now residing in areas like Semenyih, Kajang, Cheras, and along the Kajang Dispersal Link Expressway (SILK highway).

Eco Business Park V is a 518-acre gated and guarded green industrial hub, similar to the group’s projects in Iskandar Malaysia, Johor. Phase 1 comprises customisable cluster and semi-detached factories, with a range of professional services available to ease business set-up.

“We have seen a lot of interest from industrialists [located] in Sungai Buloh and [along] the West-Coast Expressway, and we see Eco Business Park V as the catalyst for the transformation for this part of Selangor as the state’s new industrial hub,” said Chang.

In Penang, Chang said the 300-acre Eco Horizon township would breathe new life into the property market there.

“We see a lot of interest from potential homebuyers from the mainland and interestingly, from Penang island,” he said, adding that township developments of such sizeable scale as Eco Horizon were not previously present in the northern region.

The first phase of the Eco Horizon development features two-storey terraced homes surrounded by a lake.

Georgian-inspired double-storey shop offices are offered at the commercial hub of Whitten @ Eco Majestic City, while Dremien @ Eco Ardence consists of garden homes, semi-detached homes and bungalows.

Chang also said EcoWorld is still selectively searching for land banks to add to its existing portfolio of 8,052.7 acres, with a total GDV of RM87.5 billion to date.

EcoWorld shares closed down two sen or 1.27% at RM1.55 last Friday, bringing a market capitalisation of RM4.56 billion.