Subang Jaya, 28 April 2026 – Property developer Avaland Berhad (“Avaland”) has entered into a sale and purchase agreement to acquire three parcels of freehold development land within Taman U-Thant, Kuala Lumpur, measuring approximately 1.9 acres, for a total consideration of RM86.0 million from Tong Ah Company Sdn. Berhad.
The land is located within an established and highly sought-after embassy enclave characterised by exclusive, low-density and luxurious residential developments. Situated approximately two kilometres from Kuala Lumpur City Centre, the site is well-positioned within one of the capital’s most exclusive residential precincts and is within close proximity to premium amenities such as Prince Court Medical Centre, the Royal Selangor Golf Club, and several reputable international schools.
In addition, the Land enjoys excellent accessibility via major roads and highways including Jalan Ampang, Jalan Tun Razak, and the Ampang–Kuala Lumpur Elevated Highway, providing seamless connectivity to key commercial and financial hubs such as KLCC and Tun Razak Exchange.
Subject to obtaining the requisite regulatory approvals, Avaland intends to undertake a luxury residential development on the land, with an estimated gross development value of approximately RM700 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 Klang Valley. It further enhances our presence in the luxury residential segment, building on the strong market response and success to our earlier luxury developments, namely Aetas Damansara and Aetas Seputeh.
In line with our strategy of acquiring land parcels with a quick turnaround time to launch, the proposed development is slated for launch in 2028 and is expected to contribute positively to our Group’s earnings over its development cycle, while reinforcing our focus on delivering high-quality developments in prime urban locations.”
The acquisition will be funded through a combination of internally generated funds and bank borrowings.




