Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily, on October 26, 2015.

 

The-Swan-Lake-show-unit_FD_26Oct15_theedgemarkets

KAJANG: Despite current economic uncertainties, property investment is still undeniably a good investment as it has enjoyed a good capital appreciation for the past five years, Eco World Development Group (EcoWorld) chief executive officer Datuk Chang Khim Wah said at the Eco World Conference yesterday.

He said the National Property Information Centre’s data shows that Malaysia property’s capital appreciation compounded annual growth rate (CAGR) for the past five years is 9.4%. Capital appreciation of properties in the Klang Valley, Johor, Selangor and Penang have a CAGR of over 10% for the past five years, this shows that property is still a better way to hedge against inflation.

“The increase in working population and rising wages have contributed to the strong market demand. Homebuyers are looking for products in the right location with good connectivity and right pricing,” he explained during his presentation at the conference.

Chang added that the company has received unbilled sales of RM3.98 billion as at August 2015. EcoWorld is on track to achieve the RM3 billion sales target this year, and its revenue has reached RM2.37 billion for the first eight months of this year.

Meanwhile, the company unveiled its Mellowood park homes, the fifth phase development of Eco Majestic in Semenyih, with a gross development value (GDV) of RM290 million yesterday.

Chang said the new phase offers 306 units of two-storey terrace houses, with selling prices from RM900,000.

“There are two layouts for Mellowood terrace houses; measuring 22ft (6.7m) by 80ft and 24ft by 80ft, built-ups range from 2,600 sq ft (241 sq m) to 2,900 sq ft,” he added.

This is also one of EcoWorld’s Limited Editions series, a range of specially designed double-storey terrace houses based on park home concept, which consists of 1,144 units of park homes in Klang Valley, Iskandar and Penang with a GDV of RM29.727 billion.

“Mellowood park homes have ‘relocated’ the car porch to the back of the house. By doing so, the developer can transform the front space of the houses into garden areas, providing residents green space for fresh air and outdoor activities,” he said.

      Print
      Text Size
      Share