SUBANG JAYA: MCT Bhd anticipates a stronger performance this year and is gearing up to launch seven new developments, comprising residential units and commercial projects, all at a combined gross development value (GDV) of RM2.2bil.
MCT listed Aetas Damansara as its beacon project in setting the pace for growth this year. The development is its maiden luxury residential project, which is jointly curated with Ayala Land Inc. It consists of 226 units of upscale residences and will be launched this month. MCT chief executive officer Teh Heng Chong said the property market is expected to continue its path towards recovery, with the global economy gaining steady progress following the recent Covid-19 vaccine roll-out.
He added that the low interest rate environment and reintroduction of the Home Ownership Campaign will once again see homebuyers searching for their dream homes. Due to the prevailing uncertainty in the environment, MCT has broadened its product offerings to support future growth and build business resilience.
“Over the past few years, we have been growing our presence in the southern region of Klang Valley, focusing on residential developments in Cyberjaya and our first township development in Cybersouth.
“Moving forward, we aim to expand our development footprint, targeting prime areas within the Klang Valley in order to reach out to various market segments. We are also actively pursuing joint venture and land acquisition opportunities to fuel future growth,” he said. On another note, MCT has identified phase one of Alira in Metropark Subang and Sanderling Lakefront Residences in Cyberjaya as main contributors to the group’s sustained sales performance for the year.
Targeted for launch in Q1 2021, phase one of Alira, with a GDV of RM316mil, consists of 492 units of resort-style apartments with built-up areas from 695 sq ft to 1,048 sq ft. Meanwhile, the Sanderling Lakefront Residences consists of 606 units of condominiums priced from RM475,000 and will be launched in Q2 2021.
Reviewing the group’s performance in 2020, Teh elaborated that the group has achieved a record high of over 3,053 completed units handed over to homeowners. MCT has an undeveloped land bank of 289.5 acres with a total future GDV of approximately RM11.4bil.