Thursday, December 8, 2022

Gov’t supports promotion of M’sian brands overseas, says Najib

Secara Rawak

LONDON: The Malaysian government keenly supports the private sector in promoting Malaysian brands internationally, said Prime Minister Najib Abdul Razak.

He said projects such as the regeneration of the Battersea power station and now, Eco World’s venture in London, would all contribute to the government’s plan to raise Malaysia to the status of a high income nation in several years.

“It shows that Malaysians can be world leaders and world beaters, wherever they are building, working, trading, teaching, or participating in whatever way in local societies and economies,” he said.

Najib, who is on a working visit to the UK, said this in his speech at the topping-up ceremony of the Legacy 1 project at Embassy Gardens yesterday to the drumbeat of the Eco World Symphony Drummers.

Legacy 1 is a project by Malaysian property developer Eco World International.

At the event, Najib was welcomed by the chairperson of Eco World Ballymore Holdings Company Liew Kee Sin, chairperson of Eco World Management & Advisory Services (UK) Lord Jonathan Marland and managing director of Ballymore UK, John Mulryan.

EcoWorld is partnering the Ballymore Group to develop three prime waterfront sites in London.

Najib commended the joint venture as it had also commenced work on two other projects, namely London City island on the Leamouth Peninsula in East London and Wardian London, despite being slightly more than a year old.

“The regeneration of the Battersea power station by a Malaysian consortium has been a real flag bearer for our country – London will gain a ‘Malaysia Square’.

“I believe that EcoWorld’s presence in the capital will reinforce the message that Malaysia believes in London,” he added.

EcoWorld, via subsidiary Eco World Investment, had in April last year acquired a 75 percent interest in three waterside development sites in London with a gross development value (GDV) of around £2 billion and comprising over 2,700 residential units and 250,000 sq ft of commercial, leisure and office space.

The three schemes are the Embassy Gardens Phase 2 in the Battersea Nine Elms regeneration area, London City Island Phase 2 in Canning Town, East London and Wardian London in Canary Wharf.

Irish developers Ballymore Group owns the other 25 percent of the three sites via a joint-venture company, Eco World-Ballymore Holding Company Ltd.

Meanwhile, a statement released by EcoWorld said the Embassy Gardens Phase 2 is expected to deliver 709 private residential units and 163 units of affordable homes across three residential blocks ranging from nine to 23 storeys.

The project launched in September last year has been well received with sales of £128.8 million as at end-January 2016. – Bernama

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