Malaysia’s property market has slowed. Both transactions and value has dropped. Read here: Lower transactions and property value in 2016. Developers who has no other markets may have little choice but to offer as much ‘special offers’ as possible to ride out the current slowdown. How long would it last? Well, some say 2016 is full of opportunities. Agree? Here: Best time ever or worst time ever for property market 2016 There are a few Malaysian developers who have ventured overseas and found success. One of the most established one would be EcoWorld. One latest update as below.
Reported in many local media just a few days ago was a Malaysian developer who is no longer confined to just Malaysia. It is now pretty big and successful in a property capital, London. EcoWorld-Ballymore has sold more 50 percent of Legacy Building 1, one of three blocks in the Embassy Gardens Phase 2. The phase 2 would has an estimated gross development value of £957mil (RM5,661 bil) and it consists of 709 luxury units and 163 affordable ones. Phase 1 which was developed by Ballymore has been fully sold out. Total sales thus far for Embassy Gardens Phase 2 launched last September reached £120.8mil (RM714 million) as at Jan 31 2016. All are huge numbers, really. Oh yeah, its swimming pool is really quite ‘scary.’ Please refer to the image.
Embassy Gardens is located in Nine Elms. This is near to the Battersea Power Station and Nine Elms is going to be London’s new diplomatic precinct as the United States and the Dutch embassies are relocating there. Construction work for Embassy Gardens Phase 2 began in January 2016 and is expected to complete in the first half of 2019. Need some additional push? Eco World Ballymore Holding Co Ltd Chairman Tan Sri Liew Kee Sin said, “We strongly believe in the United Kingdom market. We believe there is a lot of potential for us in London and for Malaysian investors in the UK market.”
I have just ONE (1) friend who bought a unit in Battersea. He is part of the top management fora financial institution in Singapore and I think he is looking at it as an investment. Let’s see if any of kopiandproperty.com’s readers would now tell me that they will be buying a unit in Embassy Gardens. 🙂 Happy thinking about London but do google a little about some recent London property news for a balanced decision making, okay.
written on 17 May 2016
Next suggested article: EcoWorld: Has hit RM3 bil target, aiming at RM4 bil for 2016