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 investmentfocused 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.
