Avaland Expands Luxury Residential Presence with Taman U-Thant Land Acquisition

I learned that Avaland Bhd is strengthening its position in Kuala Lumpur’s luxury residential market through the acquisition of three adjoining freehold development land parcels in the prestigious Taman U-Thant enclave. This strategic move reflects the company’s confidence in the growing demand for premium high-rise residential developments in prime city locations.

Avaland’s indirect wholly-owned subsidiary, Nexus Advertising Sdn Bhd (NASB), signed a conditional Sale and Purchase Agreement (SPA) on April 28 to acquire the land for RM86.039 million. The total land area measures about 7,612.63 square metres and is located within Seksyen 89A, Bandar Kuala Lumpur. The site is currently zoned for residential use and has no ongoing development activities.

An independent valuation conducted by CBRE WTW Valuation & Advisory Sdn Bhd placed the market value of the land at RM88 million, which means Avaland is purchasing the property slightly below its appraised market value. This indicates a potentially strong investment opportunity for future development.
The seller of the land is Tong Ah Company Sdn Bhd, a private company involved in general trading, plantation, and property investment. The company is controlled by the Tay family through Tay Miang Guan & Company Sdn Bhd.

Avaland plans to develop a high-rise luxury residential project on the site, with a preliminary estimated gross development value (GDV) of approximately RM700 million. Although the final development plans, total project cost, financing structure, and expected profit margins have not yet been finalised, the project is expected to target high-end buyers seeking exclusive urban living.

I also learned why Taman U-Thant is considered such a valuable location. It is one of Kuala Lumpur’s most prestigious and low-density residential enclaves, well known for its embassy presence, large bungalow plots, mature greenery, privacy, and peaceful environment. These characteristics make it highly attractive to affluent homeowners and expatriates.

The site is located only about 2km from Kuala Lumpur City Centre (KLCC) and 10km from KL Sentral, with excellent connectivity via Jalan Ampang, Jalan Tun Razak, and the Ampang–Kuala Lumpur Elevated Highway. It also enjoys close access to key facilities such as Prince Court Medical Centre, Royal Selangor Golf Club, international schools, and premium lifestyle amenities.

Avaland believes that the limited supply of new large-format luxury residential projects in this area creates a strong opportunity to introduce a differentiated high-end product for discerning buyers who value exclusivity, spacious living, and city-centre convenience.

This acquisition also builds on Avaland’s previous success in luxury developments such as Aetas Damansara and Aetas Seputeh, both of which received strong market response and helped establish the company’s reputation in the premium segment.

The payment for the acquisition will be made entirely in cash, funded through a combination of internally generated funds and bank borrowings. Completion of the deal is expected in the first quarter of 2027, subject to approvals and fulfilment of several conditions, including regulatory clearance and foreign ownership approvals under the National Land Code.

Overall, I learned that this acquisition is not just a land purchase, but a major strategic step for Avaland to further strengthen its luxury residential portfolio in Kuala Lumpur’s most exclusive neighbourhoods. It shows how prime location, limited land supply, and strong market demand continue to drive high-value property investments in Malaysia’s urban core.