Malaysia's Eco World acquires 70% in UK sites

Kuala Lumpur

MALAYSIAN property developer Eco World International Bhd said on Friday that it had acquired a 70 per cent stake in a dozen British sites, agreeing to pay £64.9 million (S$117 million) for half of the assets first.

Eco World said it would buy the stake in a unit of construction group Willmott Dixon which owns the 12 sites in Greater London and southeastern England, and would become joint development manager with its British partner.