Eco World buys 75% stake in London residential projects worth £2.2b

London

ECO World Investment Co, a Malaysian property company owned by former SP Setia Bhd executives, agreed to acquire a 75 per cent stake in three London residential projects that will be valued at £2.2 billion (S$4.5 billion) when completed.

Eco World will pay £429 million to buy stakes in the second phase of Embassy Gardens near Battersea Power Station, Arrowhead Quay in Canary Wharf and part of London City Island on the Leamouth Peninsula from Dublin-based developer Ballymore Group, according to a joint statement on Tuesday.