** Shares of AVJennings AVJ.AX rise 1.4% to A$0.72, their highest level since Feb. 2008

** Stock rises nearly over 12% this week, heading for its best weekly gain since Nov 25

** Property developer intends to provide due diligence access to Ho Bee Land, subject to the parties entering into confidentiality arrangements

** Co received a higher takeover offer from Ho Bee Land HBEE.SI on Wednesday after a getting a buyout bid from Proprium Capital Partners (Australia) and AVID Property in late Nov

** Stock rose as much as 2.1% earlier in the day

** 1.5 mln shares change hands, 1.5 times the 30-day average of 984,540

** Stock more than doubled in 2024

($1 = 1.6106 Australian dollars)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))