Ecoworld targets RM6b sales in FY18

Total sales from Malaysian projects for the financial year exceeded RM3.1bil with more than RM2.2bil achieved in the second half of the year.

KUALA LUMPUR: EcoWorld Group is targeting combined sales of RM6bil under the EcoWorld brand for financial year 2018.

From this figure, RM3.5bil will be contributed by its projects in Malaysia under Eco World Development Group Bhd (EcoWorld Malaysia) while the remaining RM2.5bil will be contributed by Eco World International Bhd (EcoWorld International).

As of October 31, 2017, cumulative sales from projects in Malaysia, United Kingdom, and Australia have exceeded RM21bil with annual sales having crossed the RM6bil mark for three consecutive years.

In addition, EcoWorld International will recognise its maiden profits in 2018, following the scheduled handovers of two blocks of apartments at its London City Island project and one block in Embassy Gardens, both in UK.

The newly announced joint venture with Be Living to jointly develop 12 sites in Greater London and the South East of England potentially enables EcoWorld International to expand its presence in the UK to four times its current size.

This will substantially improve its earnings visibility beyond 2021 when its current ongoing projects are expected to complete.