Avaland Berhad has entered into a definitive agreement to acquire nine parcels of freehold development land in Kuala Lumpur, marking a strategic expansion of its footprint in the Klang Valley. The acquisition, valued at RM148.8 million, involves approximately 3.2 acres of land situated along Jalan Putra and is being purchased from Tan Chong Motor Holdings Berhad.
The property developer confirmed the transaction via a filing with Bursa Malaysia, noting that the acquisition aligns with its long-term growth strategy aimed at strengthening its presence in key urban locations. This latest move enhances Avaland’s existing developments in Seputeh and Taman Desa and positions the group to further capitalise on high-value, investment-focused projects in the heart of the capital.
According to the company, the parcels are located within a mature and established neighbourhood, surrounded by high-rise residential and commercial landmarks. The strategic positioning of the land offers a compelling opportunity for Avaland to extend its brand influence and reinforce its market presence in central Kuala Lumpur.
Avaland stated that the acquisition not only supports its vision of sustainable growth within the Klang Valley but also underlines its commitment to delivering high-quality developments that resonate with both investors and residents. The group views the transaction as instrumental in reinforcing its reputation as a trusted name in urban property development.
-The Star
