KUALA LUMPUR (July 8): Formerly known as MCT Bhd, the company has rebranded itself as Avaland Bhd after unveiling its new corporate image last night.

A subsidiary of Ayala Land Inc which bought a majority stake in the company in 2018, Avaland has since undergone a comprehensive organisational restructuring exercise and refocused its core business on property development.

Speaking at the press conference, Teh Heng Chong, chief executive officer of Avaland said that they went through 200 names before deciding on Avaland as the new name.

“Avaland is derived from ‘Avant-Garde’. The word ‘Ava’ evokes a sense of revitalisation and dynamism, perfectly capturing the transformative nature of the company with a renewed culture that places customer centricity and performance at the forefront,” said Teh.

The new name also bears resemblance to Ayala Land, the parent company. This association allows Avaland to leverage the achievements of one of the largest and most established property developers in the Philippines for fresh opportunities and growth.

Teh highlighted that “the company embraced digital transformation and has implemented rigorous cost management measures while ensuring that they are able to maintain operational continuity for their valued customers”.

Since 2019, Avaland has successfully launched seven new projects, comprising approximately 2,500 units, with a total gross development value (GDV) of RM2 billion.

Avaland also made its first foray in Kuala Lumpur with the acquisition of a 1.57-acre land in Taman Seputeh and a 3.9-acre plot in Taman Desa this year as part of its growth plans.

“Our focus has been in the Klang Valley. But right now, we are also looking at other options because we want to grow the company faster. So we are also exploring other areas where we can actually participate. Potentially, we are looking at the industrial sector,” added Teh.