09/04/2026

PROPERTY THURSDAY | APR 9, 2026

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JLand partners EcoWorld for Malaysia, Australia projects

KUALA LUMPUR: JLand Group (JLG) and Eco World Development Group Bhd (EcoWorld), through its wholly owned subsidiary, have entered into three subscription and shareholders’ agreements (SSAs) to jointly undertake developments in Malaysia and Australia. The agreements establish a joint platform spanning three distinct but complementary developments – residential apartments on about 2,751 sqm of land in Macquarie Park, Sydney, Australia (Macquarie development); mixed residential and commercial development on about 8.44 acres of land in Johor Bahru, Johor (Larkin development); and industrial park within IBTEC South on about 316.15 acres of land in Kulai, Johor (IBTEC development). The Macquarie development deepens JLG’s presence in Australia while marking EcoWorld’s first direct overseas venture. The Larkin development brings forward a strategically located mixed-use opportunity in Johor Bahru, while the IBTEC development advances industrial land activation within one of Johor’s emerging industrial and technology corridors. These three developments will be undertaken on a 50:50 joint venture basis. JLand Group managing director Datuk Akmal Ahmad said: “This formalised partnership reflects the strong strategic fit between JLG and EcoWorld, and the conviction that long-term value is created when strategic intent is matched by the right capabilities, opportunities and execution. For JLG, it signals the continued evolution of our platform as a builder of integrated, investor ready ecosystems – broader in reach, more diversified in opportunity, and more deliberate in how we unlock value from strategic land through the right partnerships.” More than a portfolio of developments, he added, this collaboration reflects a shared approach to growth: selective in where it plays, disciplined in how it executes, and focused on creating enduring value through developments that strengthen Johor’s investment ecosystem, enhance its growth corridors, and support its long-term economic ambitions.

o Three joint developments across Sydney and Johor to drive long-term expansion and unlock strategic land value “We look forward to deepening this partnership with EcoWorld and look forward to translating this shared ambition into developments that are well-conceived, market relevant and built for the future,” said Akmal. EcoWorld president and CEO Datuk Chang Khim Wah said: “At EcoWorld, we are firm believers in the power of partnership to generate accelerated and synergistic growth. When like-minded organisations join forces with a shared vision and complementary strengths, we are able to unlock opportunities and deliver meaningful outcomes that are far greater than the sum of our individual efforts. Accordingly, we are very excited to collaborate with JLG to undertake our first direct overseas venture in Australia whilst working in tandem with them locally to further stimulate and drive socio-economic growth in Iskandar Malaysia.” He added they welcome the opportunity to co-develop the Larkin and IBTEC lands with JLG which have come at an opportune time for them to grow their project pipeline in the southern region. “We also look forward to working with JLG to

From left: JLand Group chairman Datuk Syed Mohamed Syed Ibrahim, Akmal Ahmad, Chang, and Eco World Development Group Bhd executive chairman Tan Sri Liew Kee Sin.

The Larkin development will comprise serviced apartments with retail and hotel components on approximately 8.44 acres of freehold commercial land in Johor Bahru. The project carries an estimated GDV of RM1.02 billion and is expected to be launched in Q4’26. The IBTEC development will cover approximately 316 acres within IBTEC South and is expected to be launched in Q1’28, with an estimated GDV of RM1.01 billion. Infrastructure works are expected to commence in Q2’26. Asian Pac previews Dwi Aurora – its ‘Bungalow in the Sky’ PETALING JAYA: Asian Pac Holdings Bhd, a property developer with over 110 years of heritage, concluded the preview of Dwi Aurora, Surya PJ recently. Held at the Surya PJ Sales Gallery, the event provided prospective homeowners and investors a first look at the “Bungalow in the Sky” lifestyle within the burgeoning 70-acre Surya PJ township. Located on a 9.742-acre parcel comprising four blocks, the 43-storey tower (with units from level 3 to 42 and facilities on level 43) will comprise 439 units in four layouts with built-ups ranging from 900 to 1,284 sq ft. Prices start from RM487,000 with an expected GDV of RM550 million for the overall development. The “Bungalow in the Sky” concept, featuring 3- to 4-bedroom units, was well received for its versatile layouts, strong value proposition, and focus on “Ownership Experience Management,” with facilities centred on Adventure, Leisure and Nature – designed as a private residents’ club. Chief operating officer Kevin Loh Kah Voon said the Dwi Aurora was designed to meet the sophisticated demands of today’s market – merging the grandeur of a landed home with the convenience of an amenity-rich high-rise. The group’s proven track record with landmark assets like IMAGO Mall and KK Times Square in Kota Kinabalu, Fortune Square and Fortune Park in Kepong, Levenue II Desa ParkCity, and Dataran Larkin in Johor Bahru, continues to serve as a foundation of trust for new buyers entering the Surya PJ ecosystem.

expand our footprint abroad through the Macquarie development in Sydney which is a market that we are very familiar with,” he said. The Macquarie development includes the acquisition of the entity holding the site at 1–3 Lachlan Avenue, Macquarie Park, New South Wales where the project has development approval for a 16-storey residential apartment building comprising 123 units, with an estimated GDV of approximately A$153 million (RM421 million), and is expected to be launched in Q4’26.

Menara Merdeka 118 secures WELL Core status KUALA LUMPUR: PNB Merdeka Ventures Sdn Bhd (PNBMV), a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), recently announced that Menara Merdeka 118 ( pix ) has achieved Platinum level WELL Core Certification, the highest level under the global WELL Building Standard administered by the International WELL Building Institute. With this achievement, Menara Merdeka 118 is officially the tallest building in the world to have attained WELL Core Certification. building, Merdeka 118 is redefining global expectations for iconic developments and demonstrating clear leadership in healthy buildings, said IWBI president and CEO Rachel Hodgdon.

“This achievement sends a powerful signal to the global real estate industry that the future of landmark buildings is not just about height or ambition, but about prioritising the health and well-being of the people inside.” Menara Merdeka 118 offices met stringent requirements across the WELL framework, covering indoor air and water quality, thermal comfort, material selection, supporting mental well-being, accessibility, emergency preparedness and strong connectivity to public transport and surrounding amenities. “As one of the most prominent landmarks in the world, Merdeka 118 has an influence far beyond Malaysia and Asia Pacific region,” said Jack Noonan, IWBI senior vice-president and head of Asia Pacific. “Achieving WELL Core Platinum Certification at this scale shows that health centred design is not only possible for mega tall buildings, but essential for a health-first future. It reinforces Apac’s growing leadership in shaping world-class, future-ready developments that put people’s health at the heart of progress.” The certification process was undertaken in collaboration with JLL Sustainability Consulting, appointed as WELL Consultant, and Airscan Malaysia, serving as WELL Performance Testing Agent. Their technical expertise and verification support contributed significantly to achieving Platinum level certification under the WELL Building Standard.

More than a technical benchmark, the WELL Certification reflects Menara Merdeka 118’s commitment to delivering a premium workplace experience built around health and comfort. For tenants, this means working in an environment that actively supports healthier, more comfortable and productive workdays. PNBMV CEO Datuk Izwan Ibrahim said: “This recognition is ultimately about people. At Menara Merdeka 118, we want tenants and their teams to feel the difference the moment they step in, from the quality of the air they breathe to the comfort of the spaces they work in. Being WELL Core Certified at the highest level gives our tenants a strong foundation to build healthy, people-centred workplaces, while supporting their wider sustainability and employee well-being goals.” “For us, it also strengthens Menara Merdeka 118’s appeal to leading organisations that prioritise performance, talent experience and responsible business practices. Building on Merdeka 118 being named Malaysia’s first MD Nexus location, these recognitions reinforce our ambition to position the precinct further as a leading destination for global and regional

companies. This milestone not only elevates Merdeka 118 but also positions Malaysia at the forefront of healthy and sustainable workplace development. It reflects our commitment to building with purpose while remaining grounded in responsibility to the community as we shape Merdeka 118 into a globally recognised precinct that attracts world class tenants, talent and partnerships,” he added. As the world’s tallest WELL Certified

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