MCT sells 600 property units in 2021
While the overall property market was subdued in 2020, MCT Berhad managed to recorded a commendable performance with a 6.8% increase in revenue plus units sold similar to the previous year.
Elaborating on the success, Mr. Teh Heng Chong, the CEO of MCT, added that the on-going transformation and growth plans has played out well for the group towards this positive performance.
The property group was able to deliver the vacant possession of four (4) projects with a total 3,053 units, a record high for the Group and within the prescribed delivery schedule. These projects were LakeFront Residence Phase 2 and PR1MA Homes from the Lakefront @ Cyberjaya development, as well as Casa Bluebell and Casa Wood in the Cybersouth township. During the period, it sold 600 units of properties with a total GDV of RM365.2 million, almost the same level as that in 2019. A total of RM185.2 million or approximately 51% of total sales were contributed by Market Homes from its Lakefront @ Cyberjaya development.
In 2020 it also launched two new developments with a combined GDV of approximately RM725.6 million. These were the Aetas Damansara @ Petaling Jaya and Casa Bayu @ Cybersouth. Both developments enjoyed favourable take up rates of 41% for Aetas Damansara and 36% for Casa Bayu thus far.
Adopting to new market conditions, MCT has invested in digital solutions to remain competitive and attractive to home-seekers. A few concepts have been introduced to ease buyers concerns during this pandemic, like cashless payment system and 360° virtual tour of show units and street views of projects.
Moving forward, MCT plans to focus on catering to the wider demography within the Klang Valley by providing mid-range and affordable housing projects. Carefully considering the current and emerging market trends, the Group is well positioned to provide a diverse portfolio of offerings within the RM450,000 to RM750,000 price range.
MCT’s total land bank as at end 2020 for current and future developments stands at approximately 285.9 acres. This is expected to contribute approximately RM11.6 billion in GDV over the next 10 years.