Latest news with #AvalandBhd
New Straits Times
3 days ago
- 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
PUSHING BOUNDARIES
PROPERTY developer Avaland Bhd marked a major milestone this year with the handover of four fully sold developments. Over the past two years, the developer has undergone a significant transformation by enhancing its delivery capabilities, fostering a culture of ownership and agility and consistently exceeding expectations. This is reflected in its recently completed projects that surpassed performance benchmarks, demonstrating timely delivery and certified quality through GreenRE recognition and strong Quality Assessment System in Construction (Qlassic) scores. Culture-driven success Avaland's progressive growth is powered by its 'We ACE It' culture, driven by empowered performance, integrity and a relentless pursuit of excellence. The developer is backed by a strategically diverse portfolio designed to meet an array of market demands. Its three signature property series, AVALuxe (for luxury living), AVAPrime (for premium homes) and AVARia (for value-driven housing), cater to different lifestyle needs, promoting vibrant and inclusive communities. Spearheading its entry into the luxury segment is Aetas Damansara, a 0.73 ha development adjacent to Tropicana Golf and Country Resort. The development combines a climate-conscious design, refined spatial planning and elevated living standards, achieving a Qlassic score of 85%. Its rapid recognition solidified its position as a well-received luxury property brand, which is now extended through the Aetas Seputeh development and the soon-to-be-launched Aetas Taman Desa project. Raising the bar Alira Subang Jaya, a flagship product of the AVAPrime series, will be delivered ahead of schedule. This development's strong design concept builds a distinct identity, offering resort-style living complemented by enhanced and vibrant social amenities. Alira's success created a natural spillover in buyer interest to its neighbouring Amika Residence – another development under the AVAPrime series – where a more unique design identity is taking shape. Amika continues to build on the trust established by Alira, fostering brand loyalty and attracting repeat buyers drawn to the elevated lifestyle that defines AVAPrime. Sanderling Lakefront in Cyberjaya achieved a Qlassic score of 82% and is slated for early handover by the second quarter of 2025 (2Q25), complementing the growth of this lakeside enclave. As part of Avaland's AVARia series, it upholds the developer's commitment to value-driven living without compromise, boasting 6.07 ha of facilities and forming a strong component of a four-project track record in community-building excellence. Casa Embun Phase 2, part of the AVARia series, continues the success of Casa Embun in Cybersouth. Set for early delivery by 2Q25. ahead of its initial 1Q26 schedule, the development reflects Avaland's consistency in delivering ahead of time while maintaining quality standards. Located near the township's Central Park, Phase 2 reinforces the promise of value-driven elegance and enhanced quality of living. The project has been met with strong buyer interest, underlining buyer confidence in the brand and its developments. The recently launched Meria Commercial Hub, set to anchor the area, spans 8.09 ha and is positioned as a central hub for the Cybersouth community and neighbouring areas. Meria which is GreenRE certified, offers a connected park and a balanced mix of commerce and leisure, all within an inclusive and sustainable environment. Additionally, the upcoming Avalon Balinese-inspired landed homes will integrate lifestyle, business and residential elements within a single masterplanned vision, creating connected and thriving communities that meet evolving urban needs. Strategic growth, financial strength Last year, Avaland solidified its position in integrated property development by launching five landmark projects totalling RM1.8bil. Establishing the RM1bil Sukuk Programme has strengthened its financial flexibility while advancing its ESG-driven growth strategy. With a 77.70 ha landbank and RM11bil gross development value (GDV) pipeline, the developer enters 2025 with RM1.3bil in planned launches, bringing its two-year launch total to RM3.1bil. In its financial year 2024, Avaland reach its highest-ever net profit of RM98.9mil, alongside a 53% surge in property sales, marking the strongest financial performance in its history. Avaland chief operating officer Aw Sei Cheh said that the company remains committed to pushing boundaries and redefining purposeful development, delivering enduring value. 'We are proud to reaffirm our dedication to development excellence with the handover of four projects in 2025, complemented by several industry accolades that celebrate our commitment to quality and innovation,' he said. 'As we continue to expand our brand portfolio and embed environmental, social and governance principles across every facet of our business operations, we are deepening our focus on sustainable urban development, ensuring that every development contributes positively to the environment, economy and community. 'Pivotal to this, our approach is underpinned by a drive for quick turnaround and maximising returns, ensuring that every development is not only sustainable and future-ready but also delivers timely, tangible value for our stakeholders.'
