Financial institution AmBank has signed green financing facilities with Avaland, one of Malaysia’s leading property developers. This partnership is for the first phase of Avaland’s sustainable development, 2Fifth Avenue, a green-inspired masterplan in Subang Jaya.
This collaboration highlights AmBank’s commitment to environmental responsibility and the advancement of sustainable communities. It also acknowledges Avaland’s green achievements, including the recent GreenRE Gold certification for Alora Residences and the sustainable designs for 2Fifth Avenue.
AmBank Group CEO Datuk Sulaiman Mohd Tahir believes in the power of responsible banking to create lasting positive impacts. He states, “By bridging the realms of financing and sustainability, we can build communities that not only meet present needs but also preserve the vitality of our planet for future generations.” AmBank is proud to be part of Avaland’s Sustainability Roadmap and shares their vision for a greener and more sustainable community in Subang Jaya.
Avaland CEO Teh Heng Chong echoes Sulaiman’s sentiments, recognizing that the green city of 2Fifth Avenue, with a total GDV of over RM3 billion, will be a significant contributor to Avaland’s growth plans over the next 10 years. Avaland is also in discussions with the Malaysian Highway Authority (LLM) to establish a 2.4-hectare green reserve as a community linear park within 2Fifth Avenue, benefiting the Subang community.
2Fifth Avenue aims to be a sustainable space where people can live, work, and play. With 20% of the development dedicated to green space, residents can relax amidst the lush environment. Teh explains, “We will be creating several green pockets with rainforest plant species to reduce carbon emissions and create a diverse ecosystem.” Avaland also plans to improve the development’s accessibility by enhancing the surrounding road network and establishing a dedicated pedestrian bridge linking the USJ21 LRT Station to 2Fifth Avenue.
Teh (centre) sharing with Sulaiman (third from right) in detail about Alora Residences, the first phase of 2Fifth Avenue.
As a responsible developer, Avaland believes in effective planning from the beginning to ensure the future community can live, work, and appreciate the environment. Teh emphasizes the ‘Age-In-Place’ concept for sustainable development, especially for a large-scale mixed development like 2Fifth Avenue. Avaland is also future-proofing homes by providing smart switches, smart home-ready infrastructure, and smart apps for security and property management.
Avaland’s Alora Residences, with a total GDV of RM552 million, offers 770 serviced apartments and eight retail units. Prices start at RM693,800. This partnership with Avaland aligns with AmBank’s commitment to incorporate environmental, social, and governance (ESG) considerations into its business practices. By providing green financing, AmBank aims to catalyze positive change in the communities it serves.
Keywords: AmBank, Avaland, property, banking, green financing, ESG, sustainability, partnership, GreenRE Gold certification, Alora Residences, Subang, community, Malaysia
