JOHOR BARU: Eco World Development Group Bhd will be launching two township development projects in Iskandar Malaysia in May, following the success of its flagship project EcoBotanic@Nusajaya launched last September.
Chief executive officer Datuk Chang Khim Wah said the projects – EcoSpring and EcoSummer located in the Tebrau growth corridor – would be launched concurrently.
He said the company was targeting different buyers for the projects, which have different architectural features.
EcoSpring, sitting on a 161.87ha site, would comprise cluster homes, semi-detached houses and bungalows designed after English cottages, said Chang, while EcoSummer, sited on 80.93ha just next to EcoSpring, would offer only double-storey link houses for buyers along the lines of English colonial-styled houses.
“Both projects, on a 242.80ha site with a combined gross development value of RM5bil, will keep us busy for the next eight years,” he told StarBiz.
Chang was speaking at the opening of Eco World’s sales gallery and office, and Chinese New Year open house, at Tropika Welcome Centre in Taman Setia Tropika here.
He added that Phase 1 of EcoSpring would have 200 residential properties at an indicative selling price of RM1mil onwards, while the 500 units of EcoSummer would have a price tag starting from RM650,000.
“Tebrau remains the property hotspot in Iskandar Malaysia due to its maturity and accessibility from almost all parts of Johor Baru, making it a favourite among house buyers,” he said.
Chang said Eco World’s maiden project, EcoBotanic@Nusajaya, had received good response, with the first phase’s 624 units of cluster houses and semi-detached houses priced between RM900,000 and RM1.3mil, and RM1.8mil and RM2mil, respectively, being sold out.
He said the next launch for the Nusajaya project would be at the end of the year, with 200 units of semi-detached houses and bungalows at indicative selling prices of RM2mil and RM3.5mil, respectively.
“Our next move is the Kota Masai area, as we still have a large tract of land there of about 404.68ha, and the area has good growth potential,’’ shared Chang.