SUBANG JAYA: MCT Bhd has entered into an agreement to acquire 4.02 acres of leasehold commercial land in Bangi, Selangor for RM31.5mil for their next development. Located near Pusat Bandar Baru Bangi, the parcel of land is connected to major expressways such as North-South Expressway (NSE) and Kajang Dispersal Link Expressway (Silk).
In line with MCT’s recent goal of expanding its geographical footprint in the Klang Valley, MCT is going beyond its current landbank primarily located at Cyberjaya, Dengkil, Petaling Jaya and Subang Jaya.
"This is an important milestone for our Group as it is our maiden foray into the Bangi market and is our Group's first land acquisition since 2018. Moving forward, we are continuing to look for land at strategic locations and expand our footprint in the Klang Valley with more exciting projects as we continue to build the MCT brand," MCT chief executive officer Teh Heng Chong said.
Slated for launch from late 2023 to early 2024, the land is planned for a mixed development project comprising high-rise serviced apartments and retail lots, which are planned for drive-through food and beverage outlets.
“We see a good opportunity to introduce a nature-inspired mixed development here as we feel that the land is located in the most affluent neighborhood in Bangi. It is time to elevate the living standards here. We will design most of the serviced apartments to have unobstructed views of the fairways of the Bangi Golf Resort and create neighborhood commercial amenities within the development,” Teh added.