Malaysian developer forms JV with Invesco

Malaysian developer Eco World International’s (EWI) 70 percent-owned U.K. unit, EcoWorld London, has entered into an agreement with Invesco Real Estate to forward fund the development of more than 1,000 new U.K. build-to-rent (BTR) homes worth £400 million ($520 million).

“EcoWorld London sees great potential in the U.K. build-to-rent market and this deal validates our strategic move to make the fast emerging build-to-rent business one of the key growth drivers for EcoWorld London,” said Tan Sri Dato’ Sri Liew Kee Sin, executive vice chairman of EcoWorld International.

The Kew site is located next to the new Brentford Football Club’s 17,250 capacity stadium that is currently under construction. The Barking site is located next to Barking Abbey.

While the detailed contractual arrangements are targeted to be concluded by the end of October 2018, planning permission has been secured for both sites and development work has already commenced with construct