Subang Jaya, 29 September 2020 – During the virtual Annual General Meeting (AGM), CEO of MCT Berhand, Teh Heng Chong, provided a summary of the property developer’s performance in 2019, current initiatives, and future plans.
Teh shared that 2020 will be a record year for the group in terms of handing over completed projects, with over 3,000 units to be delivered to homeowners of Selangorku PR1MA Lakefront Homes and Lakefront Residence Phase 2 at Lakefront at Cyberjaya, as well as Casa Bluebell and Casa Wood at Cybersouth in 2020.
The combined gross development value (GDV) of these four projects is RM1.2 billion. MCT has successfully delivered two projects and another two are scheduled for handover soon.
Touching on the new launches for 2020, Teh said, “Our group’s strategies remain focused on the affordable to mid-tier residential market in the Greater Klang Valley Region with a high population catchment, where transport links and public facilities are well provided for. We intend to spread our portfolio of developments to various growth corridors, expanding from our existing base in Cyberjaya and Cybersouth.”
Of the 317.3 acres of landbank, MCT has allocated 258.5 acres for future developments. The property developer is set to generate a GDV of approximately RM12.6 billion from on-going and future developments that will help MCT secure its revenue stream moving forward.
Teh added, “As a property developer, we need to continuously replenish our landbank in order to have a clear and sustainable growth plan. This remains one of our top priorities moving into 2021 as we have set land acquisitions targets in specific locations in established growth corridors in the Klang Valley.”
– Construction+ Online
Source: MCT Berhand
