KUALA LUMPUR (March 13): Eco World Development Bhd (KL:ECOWLD) has teamed up with Johor Corp Bhd's real estate arm JLand Group (JLG) to undertake two projects in Johor and a residential development in Australia.

“The formalised partnership brings together JLG’s access to strategic growth corridors and ecosystem-building platform with EcoWorld’s development expertise and execution capabilities,” the two groups said in a joint statement on Friday.

The projects in Johor comprise a mixed-use development spanning 8.44 acres in Larkin, and an industrial park in Kulai.

According to the statement, the mixed-use development will include serviced apartments and retail and hotel components. The project fronting Jalan Tun Abdul Razak will have an estimated gross development value (GDV) of RM1.02 billion. It is expected to be launched in the fourth quarter of this year (4Q2026).

The Kulai project will be an industrial park located within the Ibrahim Technopolis township and takes up 316 acres. The project, worth RM1.01 billion in GDV, is expected to be launched in 1Q2028 with infrastructure works scheduled to commence in 2Q2026.

“The industrial park is envisioned to be developed in line with the Eco Business Parks concept and will support medium and light industrial, commercial and logistics businesses through an integrated ecosystem of land lots, ready-built factories and supporting infrastructure,” said EcoWorld and JLG.

Meanwhile, the Australian project comprises residential apartments on 2,751 square metres of land in Macquarie Park, Sydney. It involves the acquisition of the land owner, Eco World (Macquarie) Pty Ltd, for A$32 million (RM88.8 million) from Fortune Quest Group Ltd.

Fortune Quest is a wholly-owned subsidiary of EWI Capital Bhd (KL:EWICAP), formerly known as Eco World International Bhd.

The site holds a development approval for a 16-storey, 123-unit residential apartment building with a GDV of A$153 million (RM424.41 million) and is expected to be launched in 4Q2026.

EcoWorld president and chief executive officer Datuk Chang Khim Wah said the group is excited to collaborate with JLG to undertake EcoWorld's first direct overseas venture in Australia while working with the Johor-based developer locally to drive socio-economic growth in Iskandar Malaysia.

"We also look forward to working with JLG to expand our footprint abroad through the Macquarie Development in Sydney, which is a market that we are very familiar with," he added.