Subang Jaya, 10 July 2025 – Property developer Avaland Berhad (“Avaland”) has entered into an agreement to acquire nine parcels of freehold development land at Jalan Putra, Kuala Lumpur, for a total of RM148.8 million.
The Land is strategically located within an established neighbourhood surrounded by prominent high-rise developments and key landmarks including Sunway Putra Mall, World Trade Centre Kuala Lumpur, Chow Kit Road Market, Petronas Twin Towers, Bukit Bintang, Menara Kuala Lumpur, Dataran Merdeka, and Titiwangsa Park.
Furthermore, the Land offers excellent accessibility via major roads such as Jalan Tun Razak and Jalan Kuching and is well-served by public transportation, being approximately 100 metres from the PWTC LRT Station and 550 metres from the Chow Kit Monorail Station. This makes the Land ideal for a transit-oriented development site that connects seamlessly to Greater Kuala Lumpur.
Subject to obtaining the requisite regulatory approvals, Avaland intends to undertake a mixed-use commercial development on the Land, with an estimated gross development value (“GDV”) of approximately RM900 million.
Apollo Bello Tanco (“Pol”), Chief Executive Officer of Avaland said, “This acquisition aligns with our long-term strategic objective to strengthen and expand our 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.
Coupled with the recent land purchase in Seksyen 13, Petaling Jaya, the combined GDV of both proposed developments is expected to exceed RM1.2 billion. These projects will contribute meaningfully to the next phase of the Group’s earnings trajectory.
Moving forward, we will continue to build on this momentum as we remain focused on actively securing strategic landbanking opportunities within key growth centres across the Klang Valley to drive sustainable growth.”
The acquisition will be funded through a combination of internally generated funds and bank borrowings.
Avaland Berhad
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 environmental stewardship and inclusive development, Avaland is committed to creating lasting value for residents, stakeholders and the community eco-system. This approach not only delivers a positive social and environmental impact but also strengthens its position as a driving force behind long-term community value, enabling inclusive growth and enduring benefits. For investors, it presents a compelling opportunity for stable, long-term returns fuelled by increasing demand for responsible and resilient urban development.
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