The launch of EcoWorld London follows the recent completion of a significant JV, where EcoWorld International acquired a 70% stake in Be Living – the residential development arm of Willmott Dixon.
EcoWorld London will see EcoWorld International branch out from its high-end projects with Ballymore – which include Embassy Gardens, Wardian and London City Island – into the mid-market with homes for open market sale and build-to-rent.
EcoWorld London will initially develop 12 sites in Greater London and the South East of England, with an estimated GDV of over £2.6bn.
The announcement was made at a Malaysian-themed event attended by leading industry figures, which took place at the Institute of Directors in Pall Mall.
Speaking at the event, Edward Lister, chairman at EcoWorld London, said that the capital was facing a chronic housing shortage.
- DFT Roundtable: Mezzanine finance, joint ventures and equity
- 10-year JV to produce up to 5,400 homes
- Overseas property developer to acquire 70% stake in Be Living
“The launch of EcoWorld London will play a significant part in alleviating this, ensuring the delivery of much-needed new homes that are accessible to those on middle incomes.
“For many, London remains the de facto capital of the globe, and it is imperative that together we provide enough housing to sustain its future.
“By combining the construction and middle-market expertise of Willmott Dixon with the vision and EcoWorld International’s best-in-class international development experience and operations, the new entity is well placed to serve the local market and the broader international audience that calls London home.”
Tan Sri Liew, executive vice-chairman at EcoWorld International, added: “London is the most important international market for the EcoWorld brand and we continue to firmly believe in the growth prospects of the residential property market here.
“Our substantial investment in EcoWorld London signifies our long-term commitment to build a strong and sustainable business in the United Kingdom.
“Working in partnership with Willmott Dixon, we aim to bring the best of all we have learnt as a developer operating in three continents to ensure that EcoWorld London projects benefit not just our customers and residents, but also contribute positively towards the betterment of the surrounding community in which they are situated.”
Pictured above: Senior EcoWorld team and EcoWorld symphony drummers