MCT REBRANDS TO AVALAND: A New Chapter Begins
Subang Jaya, 10 July 2023 – Avaland Berhad, formerly known as MCT Berhad, celebrated a significant milestone recently as it unveiled its new corporate identity at its rebranding event at W Kuala Lumpur Hotel. This marks the culmination of a transformative journey that began four years ago.
Ayala Land Inc. (Ayala Land), one of the largest property developers in the ASEAN region, bought a majority stake in the company in 2018. Avaland has since undergone a comprehensive organizational restructuring exercise and refocused its core business on property development. Through the implementation of processes targeted at enhancing efficiency, recruitment of top talent, and formulation of effective business strategies, the company has been rejuvenated.
“Avaland is derived from “Avant-Garde”, which means to embrace innovation and introduce new concepts. That’s exactly what we have done in recent years by reinventing ourselves and rediscovering new possibilities of growth. The word ‘Ava’ evokes a sense of revitalization 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 Heng Chong, CEO of Avaland Bhd.
Despite facing unprecedented challenges such as the aftermath of the Covid-19 pandemic, rising costs and inflation, Avaland swiftly adapted to the new normal and evolving market conditions.
“The company embraced digital transformation and has implemented rigorous cost management measures while prioritizing the health and well-being of our employees, likewise, ensuring that we are able to maintain operational continuity for our valued customers,” highlighted Teh.
Since 2019, Avaland has successfully launched 7 new projects, comprising approximately 2,500 units, with a total Gross Development Value (GDV) of RM2 billion.
The company’s transformation is evident from its improved market perception. Recent projects like Aetas Damansara and Alira Subang Jaya have achieved healthy sales and take-up rates despite the timing of these projects which were launched during the pandemic.
The company’s commitment to excellence has been validated by multiple accolades, including numerous awards at the StarProperty Awards where all of its on-going projects are now under award-winning status. Its completed project, Selangorku PR1MA LakeFront Homes in Cyberjaya also bagged The Edge Malaysia Best Managed & Sustainable Property Awards. The company also won two awards at the Asia Pacific Property Awards.
Avaland’s name also bears resemblance to its parent company, Ayala Land. This association allows it to leverage the achievements of one of the most established property developers in the Philippines, opening new opportunities for growth.
“By tapping on Ayala Land’s expertise and solid track record in developing large-scale integrated, mixed-use, and sustainable estates, we are confident of achieving our rebranding initiative’s goal to elevate our corporate branding and build trust among our customers, and stakeholders,” Teh emphasized.
“Today we announce the rebranding of MCT Berhad to Avaland Berhad and redefine the company’s mission to “Creating communities, enhancing lives for generations.” This aligns with Ayala Land’s vision of “Enhancing land and enriching lives for more people.”
“As we continue this journey together, Ayala Land reaffirms its unwavering commitment to Avaland and the Malaysian property development market for years to come,” said Bernard Vincent Olmedo Dy, President and CEO of Ayala Land.
As part of its growth plans, Avaland has also actively expanded its land bank with the acquisition of a 4.02-acre land at Bangi in 2022. It 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 land in Taman Desa this year. Its pipeline launches for 2023 has a combined GDV of RM1.2 billion, which include Alora Residences and Amika Residences in Subang Jaya. Coupled with having robust unbilled sales of RM850 million as of 30 June 2023, the Company expects that these will all contribute to the future earnings of the Group.
Avaland, is embracing its new DNA and purpose of rediscovering possibilities to create lasting value, hence it’s new tagline “Rediscovering Possibilities”. It will deliver its brand value by reinventing spaces for new living and working concepts, while developing products of timeless quality and excellence.
Moving forward, Avaland is dedicated to embracing ESG practices where sustainability features will be prioritized, providing value in design and functionality that benefits customers. It will also collaborate with GreenRE Malaysia to certify all new projects as Green Developments.
The company’s rebranding initiative also focuses on customer-centricity, considering the evolving consumer lifestyles post-Covid-19, with projects designed to fulfil flexible living and working space needs.
“With renewed focus, we are poised to create an even more impactful presence in the industry, delivering exceptional experiences and creating vibrant communities for our customers,” Teh shared.