SUBANG JAYA (Oct 18): AmBank has inked green financing facilities with Avaland Bhd valued at RM129.8 million for Alora Residences, the first phase of 2Fifth Avenue, green-inspired masterplan.

This strategic partnership is 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 here.

“In line with the recent launch of our Sustainability Roadmap, we are proud to partner with AmBank for our 2Fifth Avenue masterplan. With a total GDV of over RM3 billion, this green city will be a key contributor to Avaland’s growth plans over the next 10 years,” said Avaland chief executive officer Teh Heng Chong.

“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 realising a greener and more sustainable community in Subang Jaya,” said AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir.

“Of course, in addition to financing the project itself, AmBank will also be providing special green end financing facilities for potential home buyers,” he added. The financial institution also offers up to RM54 million end financing for Alora Residences.

Teh mentioned in his speech that Avaland’s vision for 2Fifth Avenue is to be a place where people can live, work and play in a sustainable manner. As a key focus on improving people’s wellbeing and lifestyle, 20% of the development footprint will be dedicated as green space.

The property developer is discussing a collaboration with Malaysian Highway Authority (LLM) for a 6-acre green reserve conversion into a community park in 2Fifth Avenue, while also planning to connect the development to the USJ21 LRT Station via a dedicated pedestrian bridge to improve accessibility.

“As a responsible developer, we must plan effectively from the very beginning of any project in order 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,” he said.

With a total GDV of RM552 million, Alora Residences offers a total of 770 serviced apartments ranging from 923 to 1,457 sq ft wide and priced from RM693,800 onwards.