PETALING JAYA: Eco World Development Group Bhd
’s (EcoWorld Malaysia) industrial segment is expected to remain a key growth driver across the next few years, supported by sustained demand, upcoming launches, and potential landbank expansion, according to CGS International (CGSI) Research.
Following a recent visit to Eco Business Park 7 (EBP 7) in Malaysia Vision Valley 2.0 (MVV2.0), the research house said it came away more constructive on the group’s industrial park segment’s growth prospects.
CGSI Research noted that the company’s industrial sales exceeded RM1bil for three consecutive years from the financial year 2023 (FY23) to FY25, and reached RM1.15bil in the first seven months of FY26, which already constitutes 94% of full-year industrial sales in FY25.
With continued sales from industrial parks, upcoming launches of EBP 8 and EBP 9 across FY27 to FY28 totalling 1,151 acres with a gross development value of RM4.76bil, and potential landbank additions, it said the industrial park segment is anticipated to stay on an accelerated growth path in FY26 to FY28, cushioning any unexpected weakness in residential property sales.
The sales traction of EBP 7 is running well ahead of what is expected from a greenfield project in an emerging, yet immature market, with 80% of Phase 1 taken up and RM796mil in sales since its November 2025 launch, it shared.
The research house projected EBP 7 to deliver conservative yet realistic annual sales of RM400mil to RM500mil in FY27 to FY28, representing 9% to 11% of total sales, as well as a revalued net asset value per share estimate of nine sen, benefitting from healthy sales absorption and gradual pricing appreciations.
“We also see further upside to EBP 7 pricing as current plot and factory prices of RM70 to RM75 per sq ft (psf) and RM500 to RM600 psf, respectively, remain at a 15% to 20% discount to nearby Enstek TechPark.”
The research house said EBP 7 is well-placed to outpace intensifying competition in the MVV2.0 corridor, and that its advantage lies in execution capabilities rather than pricing.
For instance, its one-stop investment solution centre, backed by NS Corp’s 15% stake in EBP 7, streamlines regulatory approvals, project coordination and construction management, reducing speed-to-market for prospective buyers.
