Latest news with #ApolloBelloTanco
New Straits Times
10-07-2025
- Business
- New Straits Times
Avaland expands KL presence with RM149mil land deal
KUALA LUMPUR: Avaland Bhd has signed an agreement to acquire nine parcels of freehold development land along Jalan Putra, Kuala Lumpur, for a total of RM148.8 million. The company plans to undertake a mixed-use commercial development on the site, with an estimated gross development value (GDV) of about RM900 million, subject to regulatory approvals. The acquisition follows Avaland's recent land purchase in Section 13, Petaling Jaya. Combined, the two proposed developments are expected to deliver a GDV exceeding RM1.2 billion. "The projects are expected to contribute meaningfully to the next phase of the group's earnings growth," it said in a statement. The latest land deal will be financed through a combination of internally generated funds and bank borrowings. Chief executive officer Apollo Bello Tanco said the acquisition aligns with the group's long-term strategic objective to strengthen and expand its footprint within the Klang Valley. "It will enhance our presence in Kuala Lumpur by complementing existing developments in Seputeh and Taman Desa, while providing an opportunity to introduce investment-focused product offerings in a prime urban location. "Moreover, the acquisition will reinforce the group's brand positioning as a high-quality property developer in the Klang Valley," he said. Moving forward, he said Avaland will continue to build on this momentum as it remains focused on actively securing strategic landbanking opportunities within key growth centres across the Klang Valley to drive sustainable growth.
New Straits Times
01-07-2025
- Business
- New Straits Times
Avaland buys PJ land for RM49mil
KUALA LUMPUR: Property developer Avaland Bhd is set to strengthen its foothold in the Klang Valley with the acquisition of a 0.88-hectare leasehold land in Section 13, Petaling Jaya for RM49 million. The parcel, currently occupied by a showroom and warehouse, is earmarked for a high-rise commercial development with a projected gross development value of RM320 million. In a filing with Bursa Malaysia, the company said its wholly owned Leisure Event Sdn Bhd had signed a conditional sale and purchase agreement with Comit Communication Technologies (M) Sdn Bhd on July 1. The land, which has a remaining lease tenure of 50 years, will be delivered with vacant possession upon completion of the deal. It is currently zoned for mixed-use development and benefits from proximity to key urban amenities and transport infrastructure. Avaland said the purchase consideration was arrived at on a willing-buyer, willing-seller basis, and is supported by an independent valuation from CBRE WTW Valuation & Advisory Sdn Bhd, which appraised the land at RM49 million. "The land's strategic location within a mature and affluent neighbourhood, coupled with excellent connectivity via major highways and public transportation, offers strong development potential," it said. The acquisition will be funded through a combination of internally generated funds and bank borrowings, with the exact mix to be determined later. Barring unforeseen circumstances, the deal is expected to be completed by the fourth quarter of 2025. Avaland chief executive officer Apollo Bello Tanco said the upcoming project will be part of its AVA Prime series, which focuses on offering well-designed, high-quality homes crafted to cater to professionals and expanding families. "We are confident that this addition to our landbank will further strengthen our development pipeline and contribute positively to the group's long-term earnings," he said.
The Star
23-06-2025
- Business
- The Star
Avaland confident of growth prospects for its new developments
Solid pipeline: Apollo says the company is optimistic that its launches in 2024 and 2025 will propel the next phase of its growth plans. PETALING JAYA: Property developer Avaland Bhd has stepped into its current financial year with a steady performance, recording a net profit of RM20.2mil on the back of RM179.5mil in revenue for the first quarter ended March 31 (1Q25). The performance in 1Q25 reflected the transitional phase of Avaland's project portfolio as contributions tapered from developments such as Aetas Damansara, Alira Subang Jaya, and Sanderling 1 approached completion. Meanwhile, recently launched projects are still in the early stages of sales and construction and have yet to contribute significantly to earnings. Nonetheless, the group was able to partially offset the impact of the reduced revenue through effective cost management in the quarter. Avaland chief executive officer Apollo Bello Tanco said, 'We started this year on stable ground with RM147.5mil worth of new sales in the first quarter, supported by encouraging take-up from phase two of Casa Embun, Alora Residences and Meria. 'Thus far, we have launched two projects this year – in February the first phase of Meria, which is a commercial hub with a gross development value (GDV) of RM123mil at our Cybersouth township, and Tower B of Alora Residences with a GDV of RM220mil in April. 'Looking ahead, we aim to launch an additional RM934mil worth of projects this year, bringing our total launches for the year to RM1.3bil. We are optimistic that the launches in 2024 and 2025 will propel the next phase of our growth plans.' As of March 31, the group's unbilled sales grew to a new high of RM944mil from RM900mil as of the end of last year, providing the group with strong earnings visibility for the years ahead. Speaking on the group's prospects going forward, Apollo said 'The outlook for the property sector remains positive, supported by sustained demand for residential property. 'Loan applications for property purchases rose to RM106bil in 1Q25, from RM104bil in the corresponding period last year, reflecting confidence underpinned by Malaysia's stable interest rate environment. 'In addition, the latest incentives announced in Budget 2025, including a higher allocation under the Housing Credit Guarantee Scheme and tax relief of up to RM7,000 for homes priced at RM750,000 and below, are expected to further stimulate demand, particularly among young families and first-time homebuyers.' 'The group remains cautiously optimistic about its prospects, supported by the robust demand for its projects which are strategically located and offer strong value propositions aligned with market needs. 'Additionally, the group's existing land bank of 77.7ha across the Klang Valley, with an estimated GDV of RM11 bil, provides earnings visibility for the next 10 years. 'To further strengthen its position and ensure sustainable growth, the group is actively exploring strategic land acquisitions to expand its land bank and enhance future earnings potential.'
The Star
29-04-2025
- Health
- The Star
Avaland deepens community well-being commitment nationwide
PETALING JAYA: Avaland has kicked off the second year of its health screening programme in partnership with the National Kidney Foundation (NKF) Malaysia. Building on the success of over 2,000 screenings in 2024, this year's goal is to double that - to reach 4,000 screenings across NKF dialysis centres and Avaland's sales galleries. At the heart of this initiative is Avaland's commitment to its mission of creating communities and enhancing lives, while nurturing a strong culture of giving among its people. Partnering with NKF's Public Education department, this year's health screening was rolled out at Avaland Gallery @ Anja Bangi recently, with upcoming sessions scheduled at Avenue25 in Subang Jaya, Avaland Show Village at Cybersouth and Lakefront Cyberjaya in the months ahead. The programme provides comprehensive health checks, including BMI, blood pressure, cholesterol, glucose and urine tests, alongside private consultations to support the early detection of non-communicable diseases (NCDs). As part of its ongoing corporate social responsibility efforts, Avaland has strengthened its partnership with NKF by donating 10 additional advanced vital signs monitoring devices - bringing its total contribution to 20 units. These devices, equipped with ECG and oxygen saturation (SpO₂) monitoring, have been deployed to NKF dialysis centres nationwide, including those in Penang, Kedah, Perak, Johor, Kelantan, Terengganu, Sabah and Sarawak; extending beyond the initial Klang Valley focus. Pol (centre) during the Avaland health screening event — promoting wellness and community care. Avaland chief executive officer Apollo Bello Tanco (Pol) reaffirmed Avaland's dedication to community well-being. 'We are happy to extend our support to NKF dialysis centres nationwide. Enhancing access to real-time health monitoring is a critical step in delivering quality care to kidney patients. 'Through our collaboration with NKF, we aim to continually empower communities to take charge of their health. Early detection and preventive care are essential, especially for non-communicable diseases that often show no symptoms until it's too late. 'By offering complimentary screenings, we hope to raise awareness, encourage healthier lifestyles and reduce the impact of preventable diseases,' Pol added, reinforcing the programme's purpose. NKF Malaysia chief executive officer Choo Kok Ming said, 'Avaland is not only helping us enhance patient care through these much-needed devices but also actively promoting early detection and health education through community screenings. 'Their commitment goes beyond financial support - it reflects a sincere concern for the health and well-being of Malaysians, regardless of region.' Avaland remains steadfast in its commitment to embedding ESG principles into every aspect of its developments, with a strong focus on community well-being. By prioritising initiatives that enhance the lives of current and future generations, Avaland strives to create meaningful, lasting impact that transcends its physical developments. For more information on Avaland, visit
