PETALING JAYA: Eco World Development Bhd’s latest land acquisition in Kulai, Johor, enables the group to replenish its depleting land bank for industrial products thereby increasing it by more than half to 1,198 acres.
Maybank Investment Bank (IB) Research said it is positive on the land deal for its attractive pricing, as the total land cost-to-gross development value (GDV) ratio is 13% while the current asking prices around the area are above RM15 per sq ft (psf).
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