Subang Jaya, 1 July 2025 – Property developer Avaland Berhad (“Avaland”) has entered into an agreement to acquire a 2.2-acre prime development land in Section 13, Petaling Jaya, for RM49 million.

Strategically located in the matured and affluent Petaling Jaya neighbourhood, the 2.2-acre site enjoys excellent connectivity and proximity to established public amenities and infrastructure. Adjacent to Plaza 33, the land is just 3km from University Malaya and 16km from Kuala Lumpur City Centre, with convenient access to key destinations such as Mid Valley, Bangsar South, Asia Jaya LRT Station, and Phileo Damansara MRT Station, as well as major highways including the Damansara-Puchong Expressway and the Federal Highway.

Subject to obtaining the requisite regulatory approvals, Avaland intends to undertake a high-rise commercial development on the Land, with an estimated gross development value of approximately RM320 million.

Apollo Bello Tanco (“Pol”), Chief Executive Officer of Avaland said, “We are excited about this acquisition as it represents a strategic step in expanding our presence within the vibrant and thriving township of Petaling Jaya. The encouraging response to our earlier developments across the Klang Valley reinforces our confidence in this location. With its mature township appeal, excellent infrastructure, and proximity to key urban centres, this acquisition aligns with our long-term strategy of delivering high-quality, sought-after developments in prime growth areas across the Klang Valley.

The upcoming development will form part of our AVA Prime series, which is dedicated to delivering thoughtfully designed , premium homes tailored to meet the needs of professionals and growing 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. As we continue to build on our growth momentum, we remain committed to actively pursuing strategic landbanking opportunities that support sustainable and value-accretive growth going forward.”

The acquisition will be funded through a combination of internally generated funds and bank borrowings.

Avaland Berhad

Listed on the Main Market of Bursa Malaysia since 6 April 2015, has established itself as one of Malaysia’s leading property developers. With a diverse portfolio, the company offers three core property series – AVA Luxe for luxury living, AVA Prime for premium homes, and AVA Ria for value-driven housing – catering to various market segments while fostering vibrant, inclusive communities.

Focusing on sustainability, responsible development, and community-centered initiatives, Avaland is committed to creating lasting value for residents, stakeholders, and the environment. This approach not only delivers a positive social and environmental impact but also strengthens its position as a true value creator for communities. For investors, it presents a unique opportunity for long-term stability and growth in an evolving market.

With a sizeable land bank, Avaland is well-positioned for sustained growth. The company’s RM1.0 billion Sukuk Programme, launched in 2024, will further accelerate acquisitions and developments, enabling the creation of sustainable, community-focused projects that align with its commitment to sustainable development.

Redefining its focus on value creation and development excellence, Avaland is dedicated to making a lasting impact and enhancing lives for generations to come.

For more information, please visit www.avaland.com.my