Singapore-listed property group World Class Land, which is 80%-owned by jeweller Aspial Corporation, announced on Feb 27 that it has started the handover of residential units at the 456-unit AVANT in Melbourne.

Located within walking distance of RMIT University, the 56-storey, freehold residential project was more than 96% (441 units) sold as at Feb 27, with sales totalling A$252.7 million ($261.5 million).

On Feb 23, World Class Land began the handover of 203 completed apartments to their buyers. The developer plans to hand over another 238 apartments sold over the next six months.

World Class Land expects to realise a revenue of up to $252.7 million from the handover of the 441 units.