EcoWorld International has agreed to purchase a 70 percent interest in Willmott Dixon’s residential development business, Be Living.
The acquisition is expected to complete in December 2017. And it has the potential to increase EcoWorld International’s total presence in the United Kingdom fourfold by giving it access to a sizeable land bank of approximately 6,700 mainstream residential units with a project gross development value (GDV) of at least £2.5 billion ($3.3 billion).
“We are responding to the government’s call to provide more quality homes that an average income earner is able to afford,” said Tan Sri Dato’ Sri Liew Kee Sin, executive vice chairman of EcoWorld International.
The partnership empowers Be Living and EcoWorld International to play a key role in building more affordable housing in line with U.K. government initiatives such as Help to Buy, while meeting the needs of the domestic mainstream market with a high-quality product.
