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- The 1.76-acre development has a gross development value (GDV) of RM582 million and comprises two 47- and 48-storey towers.
KUALA LUMPUR (March 26): Avaland Bhd topped out its fully sold Aetas Damansara condominium development located at Persiaran Tropicana, Selangor on Tuesday.
In a press statement, Avaland said the development is targeted for vacant possession (VP) in 1Q2025, which is about six months ahead of schedule from its initial expected completion date in 2Q2025.
The 1.76-acre development has a gross development value (GDV) of RM582 million and comprises two 47- and 48-storey towers. Both towers have 226 units in total, with 3+1 or 4+1 bedroom layouts, and built-ups from 2,098 to 3,273 sq ft. The selling price starts from RM1.9 million to RM3 million.
In the statement, Avaland chief executive officer (CEO) Apollo Bello Tanco said: “In 2021, we introduced Aetas Damansara as our inaugural luxury development, with the purpose of expanding into the premium property market and meeting the demands of the high net-worth market segment. Buoyed by the 100% take-up rate for Aetas Damansara, we are looking forward to unveiling Aetas Seputeh, our debut luxury venture in Kuala Lumpur, in the next few weeks”.
“These projects have been designed with numerous sustainable features, leading to both Aetas Damansara and Aetas Seputeh achieving GreenRE Platinum certification, a recognition shared by only 71 projects in Malaysia. This achievement speaks volumes about our steadfast commitment to sustainable development,” he added.
Meanwhile, the statement also highlighted that Avaland is poised to complete four projects worth over RM1.7 billion within the next 18 months. These projects are Casa Embun, Alira, Sanderling and Aetas Damansara. Avaland also announced a sales target of RM1 billion for this year. Some of its projects will include Aetas Seputeh, Amika Residences and Anja Bangi, with a combined GDV of RM1.4 billion.
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