Press Release: MCT Sees Upward Growth Momentum In 2021 Propelled By Seven New Project Launches
Subang Jaya, 5 January 2021: Leading property developer, MCT Berhad (MCT), anticipates a stronger performance in 2021 and is gearing up to launch seven new developments, comprising residential units and commercial projects, with a combined Gross Development Value (GDV) of RM2.2 billion.
Commenting on MCT’s growth prospects for 2021, MCT CEO, 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. Coupled with the low interest rate environment and reintroduction of the Home Ownership Campaign, which presents good buying opportunities, more homebuyers will once again be searching for their dream home.”
MCT is targeting to launch seven new developments, including Aetas Damansara, a high-end residential project in Tropicana Golf & Country Resort, Damansara, Alira in Metropark, Subang, and Sanderling Lakefront Residences in Cyberjaya. The other projects include a boutique commercial centre at Lakefront Cyberjaya, the maiden phase of Cybersouth Town Centre in Dengkil, as well as new residential developments located in USJ Subang and one in Cybersouth.
“Recognising the prevailing uncertainties in the environment, we have quickly pivoted to broaden our product offerings to support future growth and build business resiliency. 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,” Teh explained.
The Group has listed Aetas Damansara, which will be officially launched in January 2021, as its ‘beacon’ project in setting the pace for growth this year. Aetas Damansara, a collection of 226 units of upscale residences, has garnered a healthy take-up rate since its soft launch in November 2020.
With a GDV of RM564 million, Aetas Damansara is MCT’s maiden luxury residential project, jointly curated with Ayala Land, Inc. The development sits on a 1.76 acre piece of prime land which offers scenic views of the fairways of Tropicana Golf and Country Resort. It also provides a wide selection of spacious and luxurious layouts, from three-bedroom to four bedroom units which are attractively priced at a starting point of RM1.97 million.
Teh explained that, as reflected by its tagline, “A living, breathing home”, Aetas Damansara is the hallmark of refined residences designed to elevate people’s way of life and urban luxury living. It echoes MCT’s new vision to set a new benchmark of living spaces anchored on three key elements – bespoke design, efficient space planning and best-in-class fittings. Each unit also has an exclusive private lift lobby, further enhanced with a multi-tier security system for resident’s peace of mind.
On another note, MCT has also 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 RM316 million, 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 RM 475,000 will be launched in Q2 2021. The Sanderling Lakefront Residences has the potential to attract millennials homebuyers as the development is surrounded by universities and technology-related workplaces.
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 of Selangorku PR1MA Lakefront Homes, Lakefront Residence (Phase Two) in Lakefront Cyberjaya as well as Casa Bluebell and Casawood landed residential developments in Cybersouth township.
MCT has an undeveloped land bank of 289.5 acres with a total future GDV of approximately RM11.4 billion. For more information on MCT’s upcoming developments, visit https://www.mct.com.my/.
— End Of Press Release —
Love to be updated of investment news? Sign up for KopiWeekly. (once per week for property, finance, investment news and more)
Next suggested article: Investing is as exciting as watching plants grow