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KUALA LUMPUR (Nov 9): EcoWorld International Bhd (EWI) shares rose 3.85% early today after the company said it is partnering renowned UK construction firm Willmott Dixon to jointly develop 12 sites in Greater London and the South East of England.
At 9.12am, EWI rose 4 sen to RM1.08 with 840,600 shares done.
In a statement, EWI announced that it has inked a Heads of Agreement (HoA) with Willmott Dixon today to acquire a 70% equity interest in 11 project sites there.
The sites, said EWI, will have a capacity of 6,700 residential units with a potential GDV of at least £2.5 billion (RM13.86 billion) — over 5.54 times the developer’s market capitalisation of RM2.5 billion.
Combined, EWI said the agreements could increase EWI’s UK presence fourfold. EWI currently has an ongoing development of 2,500 high-end residential units in Prime Central London under another joint venture with another developer, Ballymore Group. — theedgemarkets.com
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