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Company set up by ex-directors and executives of S P Setia plans RM30bil projects

September 13th, 2013 Leave a comment

Group to launch various developments on 1,214ha land bank, focusing on Klang Valley, Johor and Penang

Eco World Development Sdn Bhd, a company set up by former directors and executives of S P Setia Bhd, is looking to launch projects with a gross development value (GDV) of RM30bil on 1,214ha of land.

Chief executive officer Datuk Chang Khim Wah said that at present, it was focusing on the Klang Valley, Johor and Penang.

“Up next, we would have two projects in Penang, two in the Klang Valley and four in the Iskandar region,” he told StarBiz.

On how the company managed to secure such a huge tract of land since it is a relatively new company, he attributed it to its major shareholders, Datuk Eddie Leong Kok Wah and Tan Sri Abdul Rashid Abdul Manaf, who have been in the industry for some time now.

In terms of land size, Eco World has 5.26ha in Air Itam, Penang Island; 24.28ha in Seberang Prai, Penang; 433ha in Semenyih, Selangor; 497.76ha in Tebrau, Johor; and 154.99ha in Senai, Johor.

Two of the projects to be first launched by the budding developer is a 109.27ha township development known as EcoBotanic in Nusajaya, Iskandar Malaysia, and a 4.05ha integrated mixed-use development known as EcoSky along Jalan Ipoh.

EcoBotanic, with a GDV of RM3bil, will be launched on Sept 22 and will comprise cluster homes and semi-detached houses.

One of the features of EcoBotanic is the preservation of the land’s original façade. Some 70% of the trees on the site have been preserved, with the development being built around them.

“We conserve most of the trees and retain the waterways. At the same time, we incorporate modern designs to the houses,” Chang said.

The house prices, which are estimated to begin from RM900,000 per unit for cluster units and RM1.6mil for semi-detached houses, all come gated and guarded besides offering infrastructure such as parks and Internet connection.

Meanwhile, the RM1.2bil EcoSky sits on a site bought from DRB-Hicom Bhd in April for RM69.92mil.

The mixed development will consist of 36 retail units and 940 high-rise residentials, with sizes measuring from 861 to 1,227 sq ft. Chang estimates the selling price for the units to range from RM600 to RM650 per sq ft.

According to him, 24% of the land would be reserved as green spaces and Eco World would also build a covered walkway to the commuter rail stations nearby. Interestingly, the company will arrange the leasing for the shop-owners after selling the commercial lots so as to have better control of the tenant mix.

“As there would only be limited units of shops, we want to do it as a balancing act so that we would have the right restaurants, banks and businesses,” he said, adding that if the tenant mix was done right, shop-owners would be able to secure above-average returns.

He, however, noted that Eco World would not be offering rental guarantees, and that the arrangement was an agreement with the owners of the commercial properties to give them the authority to choose the tenants.

The company had earlier on bought land totalling 249.4ha from DRB-Hicom for RM605mil. The other 248.39ha tract is situated in Tebrau, Johor.

Chang said the developer’s theme was “Creating Tomorrow and Beyond”, which would be achieved by incorporating eco elements into its products.

He said the launch of its EcoBotanic and EcoSky gallery, scheduled for Sept 22, would signify the birth of Eco World.

Separately, the company has inked a letter of intent with Salcon Bhd’s subsidiary to manage a mixed development that consists of a five-storey shopping complex and apartments.

Source: StarProperty.my

Categories: Property News Tags:
  1. HUAT
    September 13th, 2013 at 18:01 | #1

    SP Setia competitor?

  2. Chocolate
    September 23rd, 2013 at 14:34 | #2

    Believe EcoWorld will soon to have new project in Pg as they already covered the oil palm land beside NSE after 2nd link, a new township coming in???

  3. Chocolate
    September 27th, 2013 at 22:04 | #3

    (吉隆坡25日訊)繼上週瞄準南馬後,丹斯里劉啟盛效應再度“發功”席捲北馬檳城,興業研究認為,由劉啟盛操作的EcoWorld進軍威省南部,有望“點石成金”,帶動檳島地段及產業短期內獲重估。

    市場臆測EcoWorld將收購檳島的大型地皮,積極擴展在當地的發展計劃。(圖:星洲日報)
    催生土地新基準價格

    報導指EcoWorld以每平方呎30令吉以上水平,收購威省南部約60英畝地段,相信該地區很快會有新的價格基準,並惠及週邊發展商。

    帶動周邊發展

    興業指出,過往實達集團(SPSETIA,8664,主板產業組)、EcoWorld、怡保置地(IJMLAND,5215,主板產業組)及馬星集團(MAHSING,8583,主板產業組)宣佈在加影、士毛月及哥打哥文寧展開各自的城鎮計劃後,週邊地段及產業計劃即飆升30至50%。

    同時,這也令小型發展商受惠,如林木生集團(LBS,5789,主板產業組)及美景控股(MKH,6114,主板產業組)。

    E c o W o r l d最近動作頻頻,繼與實康(SALCON,8567,主板貿服組)聯營新山市中心的綜合產業計劃後,之後也獻議以近2億3千零68萬6千令吉收購富閣苑開發(FOCAL,8206,主板產業組)的65.05%股權。

    報導指出,未來EcoWorld將持有3千英畝地段,發展總值達300億令吉,使其發展總值規模緊次於UEM陽光(UEMS,5148,主板產業組)的810億令吉、實達集團的990億令吉、雙威(SUNWAY,5211,主板產業組)的560億令吉及怡保置地的400億令吉。

    若消息屬實,EcoWorld將晉升為國內3大發展商之一。

    興業相信EcoWorld將進一步擴大地庫,不過由於檳島缺乏地皮,因此若能參與政府持有的峇都交灣(Batu Kawan)計劃,則將對檳島起著重大的轉型效益。

    “我們臆測EcoWorld將收購檳島的大型地皮,積極擴展在當地的發展計劃。”

    除了恆大置地(TAMBUN,5191,主板產業組)、阿沙士世界(A S A S,5975,主板產業組)、永泰(馬)(WINGTM,2976,主板產業組)及匯華產業(HUNZPTY,5018,主板產業組)是檳城主要的地段持有者,很多地段仍由個人手握。

    EcoWorld及其他大型發展商須擁有足夠的財力才能收購更多地段,甚至通過併購其他公司以直接受惠。

    料有機會與檳城發展機構合作

    營運方面,EcoWorld的多名董事都是一些熟悉的面孔,包括曾擔任實達集團北馬區經理的拿督拉祖,目前則成為EcoWorld首席營運員。

    他在實達集團服務期間交出良好表現,包括該公司成功攫取總值3億令吉的檳城國際展覽中心承建及營運工程,且曾是Bayan Mutiara佔地102英畝地段的競標領跑者。

    為此,興業認為,EcoWorld擁有很大機會參與由檳城發展機構主導的峇都交灣計劃,涉及工業園、住宅及商業發展。

    “過去數個月,檳城發展機構提出打造名牌商品城、國際主題樂園、住宅及商業發展計劃。雖然住宅及商業部份已由環球東方(GOB,1147,主板產業組)及馬頓(MALTON,6181,主板產業組)囊括,但相信EcoWorld仍有機會與檳城發展機構合作發展其他項目。”

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