MCT EXPANDS ITS DEVELOPMENT FOOTPRINT WITH THE ACQUISITION OF 3.9 ACRES OF LAND IN TAMAN DESA, KUALA LUMPUR

Subang Jaya, 28 February 2023 – Emerging property developer MCT Berhad (“MCT”) announced its second land acquisition for the year 2023 with the acquisition of three contiguous parcels of freehold residential land totalling 3.9 acres in the matured Taman Desa township in Kuala Lumpur for RM64.6 million.

The land is strategically situated at the fringe of Kuala Lumpur’s central business district in a matured and affluent neighbourhood with readily available public amenities and infrastructure with excellent connectivity within the vicinity. It is located 3km from Mid Valley Megamall and approximately 11km from Kuala Lumpur City Centre and is accessible via Old Klang Road, Federal Highway and New Pantai Expressway. It also has access to various schools such as SMK Taman Desa and Vikas International School, all within a 1km radius. In addition, it is close to the planned Bandar Malaysia project, an integrated transit-oriented development.

Teh Heng Chong, Chief Executive Officer of MCT said, “Riding on the back of our recent acquisition of the Seputeh land, we are continuing our plans to expand our development footprint in the Klang Valley.

The proposed development is expected to be our third instalment of our award-winning Aetas series and is tentatively named Aetas Taman Desa. Based on the preliminary plans and subject to approval from the authorities, Aetas Taman Desa will encompass 236 units of spacious family-sized condominiums with an estimated gross development value of RM500 million and is planned for launch in 2024.

We are excited with this acquisition as Taman Desa is an exciting, matured and vibrant neighbourhood with an affluent catchment. Nestled in a tranquil enclave within this popular neighbourhood, we intend to introduce a residential development that would appeal to the market with emphasis on family lifestyle, security and green features that would benefit the owners.”