Avaland Celebrates Avenue25, Redefines Sustainable Living

KUALA LUMPUR, Oct 14 (Bernama) -- Property developer Avaland Bhd aims to set a new benchmark with the Avenue25 project in Subang Jaya, with all phases targeted to achieve GreenRE Gold certification.

A statement today said the development of the mixed-use project showcases the company’s commitment to fostering a self-sustainable community that prioritises ecological integrity, social connections, and economic vitality for residents and surrounding communities.

 “Avenue25 spans an expansive 13-acre site, complemented by a nearby 6-acre green space, embodying the concept of a forest-inspired vertical green village.

"With sustainability at its core, Avaland aims to set a new benchmark in Subang Jaya, with all phases targeted to achieve GreenRE Gold certification,” it said, adding that it launched the Avaland Show Village to commemorate Avenue25.

The company aims to enrich the lives of residents and the wider Subang Jaya community with ongoing infrastructure enhancements and a focus on community engagement. It is also committed to exploring new growth opportunities in real estate.

It also said the launch of Alora Residences Phase 1 in August 2023 saw remarkable interest and will unveil Alora Residences Phase 2 alongside the full Avenue25 masterplan in the next few weeks.

Avenue25 future phases will be additional serviced apartments, retail spaces, and a comprehensive transportation hub, 

“Avaland’s sustained growth reflects market confidence in the developer’s offerings and its ability to meet customer demands. Looking ahead, we remain optimistic about 2025,” the statement said.

The company reported that net profit more than tripled to RM42.8 million in the second quarter ended June 30, 2024 (2Q 2024) versus RM11.2 million previously while revenue more than doubled to RM432.9 million from RM190.4 million.

Property sales rose by 78.6 per cent to RM476.3 million, fuelled by high take-up rates for ongoing projects including Casa Embun Phase 1 (99 per cent), Sanderling (90 per cent), Alira Subang Jaya (92 per cent), and Amika Residences (60 per cent).

As of June 30, 2024, unbilled sales stood at RM954 million, up from RM863 million at the end of 2023, providing strong earnings visibility for the coming years.

-- BERNAMA