EcoWorld Malaysia’s business park occupancy reaches 85%

Chang: The final phase, the 92-acre South Gate, will officially be launched within three months.

PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has signed agreements for the sales of industrial plots and factories in the vicinity of its Eco Business Park V (EBP 5).

President and chief executive officer Datuk Chang Khim Wah said the property developer sold seven acres of industrial land to frozen food supplier, EB Frozen Food Sdn Bhd, that had earlier purchased 20 acres within the business park.

Additionally, another 4.7 acres of industrial plot was sold to TTL Sales and Rental Sdn Bhd, which principally provides rental and maintenance services for light machinery and equipment.

The EcoWorld Malaysia event also saw the signing for the sales of 21 cluster and semi-detached factories, with prices starting from RM2.2mil.

Following the sales of factories and lands, the occupancy rate of EBP 5 has reached 85%.

Chang pointed out that the business park, biggest among the four industrial parks under EcoWorld Malaysia, hosts over 100 enterprises from a diverse range of sectors.

Its development consists of five phases, with the first two phases, East Gate and North Gate, fully sold.

“Today, we are working on the West Gate and Central Gate, and the final phase, the 92-acre South Gate, will officially be launched within three months,” Chang said at the signing ceremony yesterday.

At the signing ceremony for Eco Business Park V's industrial lands and factories: Chang (first row, fifth from the left) with along with the buyers.

Chang said for the South Gate development, the group is planning to sell bigger factory lots with more customisation options or built to suit the particular buyer.

“Hence, it is a more flexible industrial product, where customers can choose their different acreage or size,” he said.

The buyers, Chang said, were a mixed of local and international industrialist.

“In terms of numbers, we have more local industrialists. But, in terms of size, the international companies buy bigger industrial plots,” he explained.

Chang expects the development of EBP 5 to be completed within the next four to five years.

He believes EBP 5, which has a total gross development value of RM3bil, will have a visible impact on the nearby community with the creation of employment opportunities.

He said the completion of Damansara-Shah Alam Elevated Expressway has bolstered the value of the business park, as it enhances accessibility and brings it closer to the city.

The improved accessibility has made the business park even more desirable and attractive to potential investors.

Chang said EcoWorld Malaysia is on track to achieve its sales target of RM3.5bil across its portfolio for the financial year ending Oct 31, 2023.

“Total sales for the first four months of its financial year 2023 shows the group is slightly ahead of its target,” Chang said.

In the four months ended Feb 28, 2023, sales across its portfolio stood at RM1.35bil, or 38.5% of its full year target, with RM616mil contributed from the sales of its industrial products.

Commenting on the outlook of the property market, Chang said: “We find the property market still quite stable and good.

“A lot of residential buyers are grabbing for their own use and we see quite a good attraction going on.”

Chang said the recent hike in interest rates has not dented the group’s sales, so far.

EcoWorld Malaysia has a total industrial land bank of 1,966 acres, with 77% or 1,520 acres already developed or under development, leaving only 23% or 446 acres yet to be developed.