AmBank and Avaland have embarked on an exciting new venture, unveiling their collaboration on green financing for the first phase of Avaland’s latest sustainable development, 2Fifth Avenue, an innovative green-themed master plan located in Subang Jaya. This strategic collaboration serves as a powerful testament to AmBank’s unwavering dedication to its environmental responsibility and the advancement of sustainable communities. Furthermore, the partnership serves as a validation of Avaland’s initial green achievement for Alora Residences which obtained GreenRE Gold certification recently as well as the sustainable designs and plans for 2Fifth Avenue.
Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group said “We truly believe in the power of responsible banking to create a lasting positive impact. By bridging the realms of financing and sustainability, we can build communities that not only meet the needs of the present but also preserve the vitality of our planet for the generations to come”
He added “We are proud to be a part of Avaland’s milestone in its Sustainability Roadmap that reinforces its commitment to integrating sustainable and eco-friendly features into its projects. This collaboration is a testament to our belief in their vision and a significant step towards realizing a greener and more sustainable community in Subang Jaya.”
Teh Heng Chong, Chief Executive Office of Avaland said “In line with the recent launch of our Sustainability Roadmap, we are proud to partner with AmBank for our 2Fifth Avenue masterplan with its green-inspired concept. It is a mixed development comprising services apartments, retail, and office components. With a total GDV of over RM3 billion, this green city will be a key contributor to Avalands growth plans over the next 10 years.”
Avaland is in talks to collaborate with the Malaysian Highway Authority (LLM) to adopt a 6-acre green reserve to be converted into a community linear pearl on 2Fifth Avenue for the benefit of the Subang community.
“2Fifth Avenue is to be a place where people can live, work and play sustainably. As a key focus is on improving people’s well-being and lifestyle, 20% of the development footprint is dedicated to green space so that residences can relax amidst the lush environment. We will be creating several green pockets layered with rainforest plant species within the master plan towards creating a diverse ecosystem that helps reduce carbon emission,” Teh explained.
Avaland also plans to enhance the accessibility of the development involving the surrounding network of roads as well as linking the USJ21 LRT Station to the development via a dedicated pedestrian bridge.
“As a responsible developer, we must plan effectively from the very beginning of any project for the future community to be able to live, work, and appreciate the environment created to meet their lifestyle needs. We believe in the ‘Age-In-Place’ concept for sustainable development, especially for a large-scale mixed development like 2Fifth Avenue,” said Teh.
The developer is also future-proofing homes in the masterplan development, starting with Alora Residences by providing smart switches for the living room, plus smart home-ready infrastructure for future home upgrades and smart apps for security and property management.
With a total GDV of RM552 million, Alora Residences comprises 770 serviced apartments and 8 retail units on the ground floor, including a drive-through outlet. Alora Residences serviced apartments have built up to 023 to 2,457 sq ft with units priced from RM693,800 onwards.
AmBank’s collaboration with Avaland represents a distinctive step forward in its dedication to incorporating environmental, social, and governance factors into its business practices. Through actively allocating resources towards green financing, AmBank strives to act as a transformative force and aims to be a catalyst for positive change in the communities that it serves.