EcoWorld sees jump in sales, thanks to HOC

KUALA LUMPUR (June 27): Eco World Development Group Bhd (EcoWorld) has recorded a profit after tax (PAT) increase of 35% to RM71.5 million from RM52.9 million last year for the six months ended April 30, 2019. 

This is on the back of the strong growth in revenue recorded by Eco Grandeur, Eco Ardence, Eco Horizon and Bukit Bintang City Centre (BBCC).

Collectively, these developments increased EcoWorld’s share of results from its Malaysia projects to RM37.63 million from the RM7.27 million recorded the previous year. 

Notably, EcoWorld also recorded a strong rebound in sales following the launch of the National Home Ownership Campaign (HOC) which was officially launched on March 1, 2019. 

Total sales achieved in the first seven months of FY2019 was RM1.026 billion, buoyed by the EcoWorld’s Stay2Own and Help2Own campaigns. 

“We are delighted to note that sales activities have picked up in a sustained manner since March 1 thanks to the HOC,” said president and CEO of EcoWorld Malaysia Datuk Chang Khim Wah in a press conference at EcoWorld’s BBCC Sales Gallery today. 

He also noted that a good number of sale-able unsold units would have been cleared as a result of HOC. “This will enable the market [property] to recalibrate to more natural levels going forward, supported by the country’s young demographics,” said Chang. 

He added that EcoWorld is confident of achieving its sales target of RM6 billion for FY2019 and FY2020 with the strong sales momentum.  

Nevertheless, Chang said the property market outlook remains challenging for the second half of 2019. "EcoWorld will continue to differentiate itself from other developers with our steadfast commitment to value creation and customer service," he said. 

Moving forward, EcoWorld will focus on the Life@EcoWorld integrated wellness concepts in some of its projects that aim to ensure customers' wellbeing. 

Previously, EcoWorld had signed two agreements with Kaoshiung Medical University Hospital (KMUH) and its local partner Aged Care Group earlier this year.