KUALA LUMPUR: Avaland Bhd has returned to the black with a net profit of RM11.12 million in the second quarter (Q2) ended June 30, 2023 versus a net loss of RM7 million in Q2 2022. 

Its revenue for the quarter more than doubled to RM113.84 million from RM53.5 million in the same period last year. 

The company said the improved performance came on the back of increased contributions from ongoing projects namely Aetas Damansara, Alira Subang Jaya and Casa Bayu Townhouse. 

MCT Berhad chief executive officer Teh Heng Chong said that the Covid-19 pandemic has changed people's lifestyles and the way they want to live.

Buyers, he said, are now looking for homes that are more spacious and have amenities that will appeal to their work-life balance lifestyle.

"There must be a suitable area for uninterrupted work needs for those who frequently work from home," he said.

MCT recently launched phase 1 of Alira, and the apartments, according to Teh, are designed to meet the needs of everyone.

MCT Bhd is giving rebates, cash backs, discounts and a fully furnished package for some of its projects to help lessen the burden of homebuyers in the bottom 40 per cent and middle 40 per cent income groups (B40 and M40).

The list of projects include the group's Lakefront Homes in Cyberjaya.

Lakefront Homes is part of MCT's Lakefront mixed development comprising condominiums, villas, and commercial outlets.

MCT has introduced a campaign called Sama Sama Special, which is taking place throughout the Movement Control Order (MCO) period.

KUALA LUMPUR: MCT Bhd, a unit of the Philippines' Ayala Land Inc, plans to roll out new property launches with estimated gross development value (GDV) of RM650 million.

The projects included Sanderling Lakefront Residences @ Cyberjaya, Casa Bayu @ CyberSouth and Alira @ Metropark Subang, MCT said in a statement today.

The company also said its shareholders had approved all the resolutions to support its growth, and this included the appointment of Teh Heng Chong as chief executive officer.