SELANGOR: Real estate developer MCT Bhd (MCT) recently launched the Casa Embun South Tower, a high-rise serviced apartment with two blocks, totalling 987 residential units and 16 units of commercial units.
Since its launch in 2015, more than 1,700 residential units at Cybersouth have been sold, with a population of approximately 5,000 residents. Park Place I, the township’s central park and first commercial hub, was completed in 2022 and Casa Embun was Cybersouth’s first vertical development.
“Casa Embun was built in accordance with MCT’s overall vision for Cybersouth which was designed to be a township which will endure and bring value for future generations. We have expanded on innovations that were incorporated in the various phases of our developments in the Cybersouth township, and Casa Embun is primed to be the latest gem,” MCT chief executive officer Teh Heng Chong said.
“We wanted these homes to be affordably priced, starting from RM286,800 as we want to offer value and quality to the wider market. This has already started to yield positive results as we have already sold approximately 40% of Phase 1 and 100% of the commercial units,” Teh added.
In commenting about uncertainties with the current economic conditions locally and on a global scale, Teh noted that while the downside risks of the prolonged global supply chain disruptions and rising inflationary pressures have led to the tightening of monetary policies, such as the recent OPR hikes could hamper the economic recovery in the near to medium term, MCT is better prepared to manage and circumvent the impact it could cause.
“We believe the positive momentum of last year will continue in 2023 as we plan to launch three new projects with a total GDV value of RM954 million across the Klang Valley. We are also targeting to achieve RM848 million worth of sales for 2023, a 57% increase from what we achieved in 2022,” Teh said.
“In addition, we are looking to get back into the black in 2023, underpinned by our robust unbilled sales of RM720 million as at 31 December 2022 and contributions from our pipeline property launches,” he added.
MCT chief finance officer (CFO) Susan Secreto, deputy CFO Shirley Leong Lee Chuin, project development director Kogelevanan Thinakaram, and sales and marketing director Chee Kok Keong were also present at the Casa Embun launching ceremony.
Casa Embun phase 2 is expected to be launched in the fourth quarter of 2023.