Malaysia’s Khazanah unit selling Johor land to EcoWorld for $74m

The Khazanah Nasional office.

Malaysia-listed Eco World Development Group (EcoWorld) is acquiring a piece of land in Iskandar Puteri, Johor, from River Retreat Sdn Bhd (RRSB), a company indirectly owned by Khazanah National and Tan Sri Lim Kang Hoo’s Iskandar Waterfront Holdings, according to a disclosure.

EcoWorld said its subsidiary, Melia Spring Sdn Bhd, will acquire the 200-acre freehold land for 304.92 million ringgit ($74 million) via a conditional share and purchase agreement with RRSB, which is 80 per cent owned by Iskandar Investment and 20 per cent by Iskandar Coast.

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