EcoWorld hits RM549mil in sales, reserves

PETALING JAYA: EcoWorld International Bhd achieved RM549mil in sales and reserves in the first 10 months of FY24, says president and CEO Datuk Teow Leong Seng. He said the amount comprised RM501mil sales exchanges and reserves of RM48mil. Embassy Gardens, which brought in RM224mil sales, was the biggest contributor, followed by Wardian (RM146mil), and Millbrook Park (RM55mil).

Consequently, the property development group has reduced the value of its unsold completed stocks to about RM330mil, of which its effective share is about RM240mil. “Roughly one-third of the unsold stocks by value are commercial units that are primarily marketed to investors,” he added.It is focusing on leasing the units to commercial tenants given the current high interest rate, which increases the rental yield expectations.



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