EcoWorld’s record high RM3.8 billion revenue

by | Dec 18, 2022 | Business, LOCAL | 0 comments

Despite a sluggish year, Eco World Development Group Bhd posted record sales of RM3.84 billion for the financial year 2022 (FY22), beating its previous high of RM3.82 billion in 2016 and it also surpassed its FY22 annual target of RM3.5 billion.

The sales include RM753.3 million from its four business parks. They are Eco Business Parks I, II and III in Iskandar Malaysia and Eco Business Park V in the Klang Valley which was successful under an aggressive marketing drive.

Besides this, the group announced that it collected a revenue of RM446.3 million from the sales of commercial properties and over RM2.3 billion in total residential sales also by using a successful marketing strategy.

The group stated in a media release that its strategic decision in FY22 to launch more upgrader and luxury homes across the three regions of its operations proved successful and yielded very positive results.

About RM1.7 billion homes priced above RM650,000 were sold, representing 44 percent of total group sales. Homes priced below RM650,000 made up a sizeable component of EcoWorld’s portfolio with a sales of RM648.9 million this year.

This bright performance has enabled EcoWorld to declare a dividend of two sen per share which brings the total FY22 payout to five sen per share as the group had in the middle of this year declared a dividend of 3 sen per share.