Zamri (second from left) and Teow (second from right) shake hands while Akmal (left) and Cheah (right) look on.
PETALING JAYA: JLand Group (JLG), the real estate and infrastructure arm of Johor Corporation (JCorp) and Eco World International Bhd (EWI), have signed a framework agreement to explore joint real estate development opportunities in Malaysia and Australia.
The non-binding agreement, executed via JLG Investment Holdings Sdn Bhd, enables both parties to conduct detailed evaluations and feasibility studies on identified sites, explore appropriate investment structures and joint development models and progress toward definitive agreements, subject to mutual terms.
JLG has expressed interest in EWI’s residential site at Macquarie Park—a prime location 18km from Sydney’s CBD. In turn, EWI is exploring participation in a proposed 300-acre industrial development within Ibrahim Technopolis (IBTEC), JLG’s flagship integrated township in Sedenak, Johor. Located within the Johor-Singapore Special Economic Zone (JS-SEZ), IBTEC is supported by over RM34bil in committed investments.
Commenting on the partnership, JLG group managing director Datuk Akmal Ahmad said: “Macquarie Park offers more than just access to a mature market; it represents an opportunity for JLG to bring our integrated, human-centric development approach into a new context. Our ambition is not only to grow regionally but to do so with intention - by creating places that respond to real community needs, support economic resilience and deliver shared value.”
For EWI, the framework agreement represents an entry into Malaysia’s high-growth real estate sector. EWI president and chief executive officer Datuk Teow Leong Seng said the framework agreement creates a platform for EWI to capture a larger share of growing industrial demand in Johor-Singapore Special Economic Zone (JS-SEZ).
“We are equally excited about the opportunity to participate in a strategic development within IBTEC, which is already among the country’s most prominent smart and sustainable industrial zones. We look forward to working with JLG to create opportunities that attract high-value industrial players. The framework agreement creates a platform for us to explore how we can pool our combined capabilities, strengths and resources to capture a larger share of the rapidly growing industrial demand in the JS-SEZ and Iskandar Malaysia as a whole,” Teow said.
Also present were EWI chairman Cheah Tek Kuang and JLG property development managing director Zamri Yusof.
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