Eco World Johor land purchase positive for developer - research houses

KUALA LUMPUR: Eco World Development Group Bhd wholly owned subsidiary Eco Botanic 3 Sdn Bhd (EB3SB) has entered into a conditional development agreement with Permodalan Darul Ta’zim Sdn Bhd (PDT) to acquire 97.25 hectares (240.31 acres) in Iskandar Malaysia for a purchase consideration of RM450.1 million.

EB3SB also entered into a conditional sale and purchase agreement with River Retreat Sdn Bhd to acquire the freehold land. River Retreat is owned by Iskandar Investment Bhd and Iskandar Waterfront Holdings.