PETALING JAYA: Eco World Development Group Bhd (EcoWorld) is preparing to launch Precinct 2 of its Eco Spring township in Iskandar Malaysia, Johor in the third quarter of the year (3Q2017).
Sitting on 60 acres of land, the precinct will comprise 360 units of landed homes including cluster homes, semi-dees and bungalows, EcoWorld divisional general manager Phan Yan Chan told TheEdgeProperty.com.
Precinct 2 has an estimated gross development value (GDV) of RM600 million.
“The built-up sizes for the units are around 2,200 sq ft to 5,500 sq ft and the expected selling prices are from RM1.38 million to RM3.5 million,” he said.
Precinct 1 of Eco Spring, which was launched in 2014, has been 79% taken up to date. The precinct, which is expected to be handed over to buyers from May this year, consists of 460 cluster homes and semi-dees. Built-up sizes are 3,680 sq ft and 2,360 sq ft, respectively. The selling prices range from RM790,000 to RM2.5 million.
As in all its township developments, Precinct 2 of Eco Spring will carry EcoWorld’s DNA, as it will be gated and guarded, and have vast green areas, designated walkways and bicycle lanes for residents, he added.
“We have reserved more than 18% of land for green areas. Besides, the Tudor architectural style units will also feature a private garden, swimming pool, Jacuzzi and many more,” noted Phan. “We are targeting home upgraders from the surrounding townships.”
Meanwhile, Eco Summer — the township adjacent to Eco Spring — has recorded a 50% take-up for Eco Palladium’s 226 retail outlets and shopoffices. Prices for these commercial properties range from RM616,400 to RM2.8 million.
Eco Summer’s South Garden and North Garden, which offer a total of 1,255 double-storey garden homes, have been 71% sold to date. Prices for the homes range from RM790,000 to RM2.5 million.
EcoWorld expects to sell the remaining units in these projects as well as the units in Precinct 1 of Eco Spring within its current financial year ending Oct 31, 2017, said Phan.
Eco Spring and Eco Summer have a combined land area of 613.8 acres and GDV of RM5.87 billion. Both townships are easily accessible via major highways, including the Eastern Dispersal Link, the North-South Highway and the Pasir Gudang Highway.
In addition, amenities like medical centres, supermarkets, hypermarkets, international schools, transportation hubs and tertiary education institutions are conveniently available in the vicinity.
This story first appeared in TheEdgeProperty.com pullout on March 31, 2017. Download TheEdgeProperty.com pullout here for free.