Eco World, S’wak businessman team up in RM8.6bil project

(From left) Eco World Development Group Bhd chairman Tan Sri Liew Kee Sin, president & CEO Datuk Chang Khim Wah, Cascara Sdn Bhd representative Mohammed Rashdan Mohd Yusof and Jendela Hikmat Sdn Bhd chairman Gen Tan Sri Datuk Seri Che Md Noor Mat Arshad (Rtd) after the signing ceremony of the MoU between EcoWorld and Cascara yesterday.

KUALA LUMPUR: Eco World Development Group Bhd (EW Bhd) is undertaking a new joint-venture (JV) mixed development project next to Setia Alam, the award-winning township in Shah Alam that helped build chairman Tan Sri Liew Kee Sin’s reputation as an industry leader.

In a filing with Bursa Malaysia on Thursday, the property developer announced that its unit Eco Grandeur Sdn Bhd was entering into a JV with Cascara Sdn Bhd, a company controlled by Sarawak businessman Tan Sri Bustari Yusuf, to develop an eco-themed mixed residential and commercial development with a potential gross development value (GDV) of RM8.58mil.

Eco Ardence, as it will be called, will be developed over 15 years on 533.92 acres of freehold land in Bukit Raja, and feature a mix of landed bungalows, semi-detached houses and terrace houses along with integrated high, mid and low-rise residential and commercial units within a fully strata-titled gated and guarded environment.

SP Setia Bhd had launched the adjoining Setia Alam in 2004 when Liew was at the company’s helm, 

The announcement of the proposed Eco Ardence development comes just a day after EW Bhd disclosed a setback in developing its Eco Marina project in Penang with a GDV of RM10bil.