Property still a good investment in economically challenging times, says Eco World’s Chang

SEMENYIH (Oct 25): Despite current economic uncertainties, investing in property is still a good move as the segment has enjoyed good capital appreciation over the past five years, said Eco World Development Group chief executive officer Datuk Chang Khim Wah at the Eco World Conference today.

He said NAPIC's data shows that capital appreciation compounded annual growth rate (CAGR) in Malaysian property for the past five years is 9.4%, with properties in the Klang Valley, Johor, Selangor and Penang recording a CAGR of more than 10% over the same period. This shows that property is still a better way to hedge against inflation, Chang said.

"The growing working population and rise in wages have contributed to the strong market demand; home buyers are looking for products with the right location, good connectivity and right pricing," he explained during his presentation at the conference.

Chang added that the company has received unbilled sales of RM3.987 billion as at August 2015. Eco World is on track to achieve its RM3 billion sales target this year, while its revenue has reached RM2.37 billion for the first eight months of this year.

Meanwhile, the company unveiled its Mellowood park homes terraced houses, the fifth phase development of Eco Majestic in Semenyih, today. Mellowood has a gross development value (GDV) of RM290 million 

Chang said the new phase offers 306 units of 2-storey terraced house, with a selling price starting from RM900,000.

"There are two layouts for the Mellowood terraced house, measuring sizes of 22ft by 80ft and 24ft by 80ft, with built-ups ranging from 2,600 sq ft to 2,900 sq ft," he added.

The Mellowood terraced homes are part of Eco World's Limited Editions series, a range of specially designed double-storey terraced houses based on the park homes concept, which consists of 1,144 units in the Klang Valley, Iskandar Malaysia and Penang with a GDV of RM29.727 billion.

"Mellowood park homes have 'relocated' the car porch to the back of the house. By doing so, the developer could transform the front space of the houses into a garden area, providing residents a green space for fresh air and outdoor activities," he said.

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