GuocoLand Malaysian unit buys Australian prime site for $142.61m

It will develop 125 units of residential apartments.

Eco World International Berhad, Guocoland’s Malaysian unit, bought a prime development site in Sydney, Australia for $142.61m (AUD139m).

According to a press release, the developer aims to convert the land into 125 units of residential apartments to be launched in 2019.

The site is in close proximity to Macquarie University and Macquarie Innovation Park District.

Funding from the sale came from the proceeds of EcoWorld International’s recent IPO and bank borrowings.

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