Avaland lines up three new residential launches next year

SUBANG JAYA: Avaland Bhd aims to launch three new residential projects next year on the back of healthy take-up rates of its active projects in 2023.

According to COO Aw Sei Cheh (pix), its project Aetas Seputeh, which is a continuation of its Aetas’ series is expected to launch in the first quarter in 2024 (Q1’24). Based on previous reports, it had acquired the 1.57 acre land in February this year for RM58 million.

“Aetas at Seputeh (will launch in Q1’24) … our target is to launch it within 12 months from the land acquisition. It is quite a solid track record for speed to market. So a lot of things needs to be done in between to make sure the product is ready to launch and get the kind of response we want within 12 months … not many developers can acquire and launch in 12 months,” he told SunBiz.

Meanwhile, Aw said that its other project, Aetas Taman Desa, is expected to launch towards the end of 2024. It was reported that in March, the company acquired 3.9 acres in Taman Desa for RM64.6 million.

“For Aetas at Taman Desa, we expect to launch it in (Q3’24),” he said.

For its Anja Bangi project, its retail or commercial component will be offered to customers next month (November), while its residential property is anticipated to be made available by early next year.

“(For the Bangi project), we have residential and also commercial components. So we will launch the commercial components such as shop and offices first, then only we will launch the serviced apartments in (Q1’24),” said Aw.

At press time, he said that it has a land bank of 185 acres and are expanding.

Currently, the company is focused on projects located around Klang Valley but has interest to expand into other states.

“Yes, we have plans to expand to other states. Opportunities come, we won’t set a definite timeline … but the land under our radar, some of them are indeed in other states,” he said.

In terms of location, Aw said that the firm is interested in states that show promising growth.

“For industrial lands, we are looking at Penang, Kedah and Johor. These are the few states that we are particularly very interested in our land acquisition strategy.

“It will be a mixed residential but hopefully we will have some industrial and commercial offerings from those land (of interest), as part of our strategy to diversify (our business),” said Aw.

On company target for this financial year, he said that the company is aiming to achieve RM850 million worth of new sales.

He added that they are confident to achieve the target based on encouraging take-up rates.

“So looking at the very encouraging response to our new brand and our products, we decided to put in a new launch for FY23 to give a boost to its performance.

As at June 2023, Aw said that its active projects have a healthy take up rate such as Aetas Damansara (90%), Sanderling (50%) and Casa Bayu (54%), as well as Alira Subang Jaya with phase 1 at 89% and phase 2 at 66%.