Over the next two to three years, MB World Group Bhd projects a higher earnings growth rate due to increases in upcoming launches. This was attributed to high sales rates recorded at projects in Taman Sri Penawar (township in Kota Tinggi, Johor), Desaru Coast and the refinery and petrochemical integrated development (Rapid) project (Pengerang). MB World plans to roll out two projects in Johor during 2H18. The first comprises over 250 affordable homes with a gross development value (GDV) of RM14 million, while the second is a mixed development with a GDV of RM1.46 billion.

In December 2017, the developer signed a development rights agreement with PIJ Property Development Sdn Bhd to develop 49.62 acres in Telok Permata, Johor into an integrated waterfront development. The development comprises serviced apartments, townhouses, shop offices, a mall and affordable housing on 15 acres of land under the Rumah Mampu Milik Johor initiative.

(The Edge Property, 12/2/2018)


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Jones Lang Wootton