KUALA LUMPUR (April 17): Having started out as a construction firm in 1999, MCT Bhd was listed on Bursa Malaysia in 2015, with prominent projects in Cyberjaya and Subang Jaya. Its achievements in the past two decades attracted Philippine-based property giant Ayala Land Inc to make its first investment in Malaysia by taking up a private placement at MCT’s initial public offering.

The strong growth potential of MCT subsequently prompted Ayala Land to increase its shareholding in the company. In February 2018, it raised its stake to 72.3% after making a mandatory general offer for the remaining shares of the company. This officially made MCT a subsidiary of Ayala Land.

With the new board of directors coming on board, MCT has undergone an internal restructuring and changing of business model to be the brain behind all its projects by outsourcing the other works — design, construction and consultancy — to the right partners.

In December 2020, the “new” MCT officially launched its first upmarket condominium project called Aetas Damansara in Tropicana, Selangor. The niche project has achieved a take-up rate of 61% slightly more than a year after the launch despite the challenging property market conditions amid the pandemic.

Following the successful launch of Aetas Damansara, MCT launched Phase 1 of Alira @ Metropark in Subang Jaya in November last year.

Taking up 5.6 acres of freehold land in the 88-acre Metropark township development in Subang Jaya, Phase 1 of Alira will have 467 high-rise apartments with built-ups of 695 to 998 sq ft. The selling price starts from RM493,800.

Read more about it in The Edge Malaysia weekly's April 18 edition.

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