PETALING JAYA: Eco World Development Group Bhd
’s (EcoWorld Malaysia) earnings in its financial year ending Oct 31, 2026 (FY26) should be boosted by past sales of industrial land, while FY27 will likely see contributions from three new projects, analysts say.
The three projects are the Eco Botanic 3 housing development in Johor, Eco Business Park VII (EBP VII) in Negri Sembilan, and Eco Radiance mixed-use development in Semenyih, Selangor.
The developer is also expected to see maiden recurring income contributions from data centre projects in FY27, said RHB Research.
The research house remains confident in EcoWorld Malaysia’s earnings and the outlook for its property sales .
The developer has indicated that industrial and residential sales remained strong, especially for its Iskandar Malaysia projects.
RHB Research retained its “buy” call on the stock with a target price of RM3 a share.
The research house said management’s solid execution and high-growth phase for earnings justify its bullish valuation.
The developer is set to officially launch its maiden Eco Botanic 3 offerings in the coming months.
Demand for the project appeared strong with bookings at about 1,100, versus total units available for selection of only 700, indicating demand of 1.6 times more than supply.
“The ecosystem at Eco Botanic is already well-established as University of Southampton Malaysia campus and Jaya Grocer are located there.
“The project could also benefit from the upcoming Elevated Automated Rapid Transit station at Iskandar Puteri,” the research house said.
As the marketing team is gearing up for the launch of EBP VII in Malaysia Vision Valley 2.0 by year end, it has already started gathering interest for small industrial land plots.
The team also received queries from multinational corporations.
These companies are mostly from China, Europe, Japan as well as Malaysia. EBP VII is also suitable for data centre development and given its track record in attracting big multinationals at all its business parks, RHB Research said it believes the company will similarly surprise the market on its deliveries for EBP VII.
In the coming one to two months, the developer is also likely to award the construction contract for its data centre facility at EBP V to a contractor.
