A Malaysian property investment group has emerged as a potential partner for a £2bn London residential joint venture with Ballymore.
Eco World Development Group is understood to be the frontrunner to team up with Irish developer Ballymore on developments that will deliver 3,000 homes as well as 250,000 sq ft of commercial space.
The deal would see Eco World funding projects and Ballymore retained as development manager. The schemes would be at Arrowhead Quay in Canary Wharf, E14 (pictured), phase two of London City Island on the Leamouth Peninsula, E14, and phase two of Embassy Gardens in Nine Elms, SW8.
A report from the Malaysian Insider earlier this year said Eco World had been scooping up big projects since its inception in 2013 and has among its directors former SP Setia chief executive Tan Sri Liew Kee Sin.
Ballymore appointed Lazard and CBRE in May to source funding and development partners for the project. No agreements have yet been signed, however.
