Tuesday 12 November 2019

Ballymore in €2.8bn London residential property joint venture with Eco World

London development
London development

Developer Ballymore has announced a joint venture with Malaysia-based Eco World Investment to develop three large-scale residential projects in London, previously in the sole ownership of Ballymore.

Through the deal, EW Investment will take a 75pc stake in a newly established joint venture company called Eco World - Ballymore Holding Company with Ballymore holding a 25pc stake.

Eco World-Ballymore will then acquire the three developments from Ballymore for a total consideration of €547m.

In addition to retaining its 25pc equity stake, Sean Mulryan's Ballymore will manage the developments going forward.

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