Transaction News: Avaland Clinches Strategic Land in KL and PJ from Tan Chong in Successful Tender
14 July 2025
Main Market listed property developer, Avaland Berhad (“Avaland”) announced on 1 July 2025 and 10 July 2025 that its wholly-owned subsidiaries, Leisure Event Sdn Bhd and Solid Interest Sdn Bhd respectively, have each entered into a separate conditional agreement for a strategic land acquisition:
- one parcel of land measuring approximately 2.2 acres in area situated in Section 13, Petaling Jaya, Selangor from Comit Communication Technologies (M) Sdn. Bhd., a 75.5% subsidiary of Main Market listed Warisan TC Holdings Berhad, for a cash consideration of RM49 million; and
- nine parcels of land measuring approximately 3.2 acres in area situated in Jalan Putra, Kuala Lumpur from Tanahku Holdings Sdn. Bhd., a wholly-owned subsidiary of Main Market listed Tan Chong Motor Holdings Berhad, for a cash consideration of RM149 million.
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