diff --git a/gradle.properties b/gradle.properties
index cd596f3e..098dc1f1 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -1,6 +1,6 @@
 org.gradle.caching=true
 group=io.ballerina.stdlib
-version=1.12.1-SNAPSHOT
+version=1.13.0-SNAPSHOT
 ballerinaLangVersion=2201.11.0-20241008-112400-81975006
 puppycrawlCheckstyleVersion=10.12.0
 testngVersion=7.6.1