PETALING JAYA: Eco World Development Group Bhd
(EcoWorld Malaysia) has teamed up with Johor Corp’s JLand Group through its subsidiary JLG Investment Holdings Sdn Bhd (JLGIH) to jointly develop three projects in Malaysia and Australia with a combined estimated gross development value (GDV) of nearly RM2.5bil.
The partnership is structured through three subscription and shareholders’ agreements (SSAs) covering what the group described as “three distinct but complementary developments.”
The projects include Macquarie Development in Sydney, EcoWorld’s first direct Australian residential project, consisting of a 16-storey tower with 123 units on a 2,751 sq m site, with an estimated GDV of AU$153mil and expected to launch in last quarter of this year (4Q26).
The project will be held under Versione NODE Sdn Bhd, a 50:50 joint venture between EcoWorld’s wholly-owned subsidiary Ascension Synergy Sdn Bhd (ASSB) and JLG Land Macquarie Park Sdn Bhd.
To note, yesterday, Versione NODE acquired the land for RM89.66mil from EWI Capital Bhd, in which EcoWorld holds a 30% stake.
The second SSA covers Larkin Development in Johor Bahru, managed under Versione WKND Sdn Bhd, a 50:50 joint venture between ASSB and JLG Land Bhd.
The project sits on 34,156.5 sq m (8.44 acres) of freehold land and will feature a mixed residential and commercial development comprising serviced apartments, retail, and hotel components.
The Larkin Development carries an estimated GDV of RM1.02bil and is expected to be launched in 4Q26.
The third SSA covers the industrial development in Kulai, Johor (IBTEC Development) managed by Eco Business Park 9 Sdn Bhd, a 50:50 joint venture between ASSB and JLG Technopark Sdn Bhd.
The industrial project will sit on 316.15 acres of leasehold land within IBTEC South, with infrastructure works set to begin in 2Q26 and a full launch expected in 1Q28, carrying an estimated GDV of RM1.01bil.
In a joint statement, EcoWorld Malaysia and JLand Group said they are combining their strengths to deliver three major developments in Malaysia and Australia.
“By leveraging each other’s complementary strengths, capabilities, and extensive resources, EcoWorld and JLGIH aim to create uniquely crafted developments that serve the specific needs and aspirations of each target market,” the companies said.
They added the IBTEC Development will also help accelerate industrial growth in Iskandar Malaysia.
In a filing with Bursa Malaysia, EcoWorld Malaysia said funding for the projects will be managed by the jointly-owned entities — Versione NODE, Versione WKND and Eco Business Park 9.
As a 50% shareholder, EcoWorld Malaysia said it will contribute its portion of the financial assistance required for the acquisitions and development costs.
EcoWorld Malaysia president and CEO Datuk Chang Khim Wah said that by joining forces with like-minded organisations, the companies can unlock greater opportunities and deliver outcomes beyond what each could achieve individually.
“Together, the three developments signal a partnership designed not simply around individual transactions, but around a broader platform for growth – one that is diversified, partnership led and grounded in long-term value creation,” he noted.
EcoWorld Malaysia is a property developer with a landbank of 11,956 acres across the Klang Valley, Iskandar Malaysia, Penang, and Negeri Sembilan, and a total estimated gross development value of RM98bil.
