ECO World International Bhd has partnered with JLand Group (JLG), a subsidiary of Johor Corporation, in a move that could mark EWI’s first real estate project on Malaysian soil.
The collaboration will explore opportunities in both Malaysia and Australia under a non-binding deal executed via JLG Investment Holdings.
EWI is considering involvement in JLG’s 300-acre industrial township project, Ibrahim Technopolis (IBTEC) in Johor, part of the Johor-Singapore Special Economic Zone (JS-SEZ), which has secured over RM34 billion in committed investments.
In parallel, JLG has expressed interest in EWI’s prime residential site at Macquarie Park, just 18km from Sydney CBD.
The partnership comes on the heels of EWI’s recent strategic pivot to enter Malaysia’s property market after ending a long-standing exclusivity arrangement with Eco World Development Group.
EWI CEO Datuk Teow Leong Seng highlighted the potential to fast-track launches in response to rising rental demand and shifting global interest rate trends.
EWI’s shares closed slightly lower at 34 sen on Friday, valuing the group at RM816 million, though the stock remains up 25.9% year-to-date. –TMR
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