SUBANG JAYA, July 9 — Property developer MCT Bhd has rebranded as Avaland Bhd, marking a crucial milestone in the company’s evolution, said chairman Tan Sri Abi Musa Asa’ari Mohamed Nor.
He said that after starting its transformation journey in 2019, the company has turned around its financial performance and returned to profitability in 2022.
“This achievement, coupled with its sustained positive performance in the first quarter of this year, is a testament to the effectiveness of the strategies implemented by the company’s dedicated team,” Abi Musa said at the rebranding event on Friday.
“The company’s pipeline launches for 2023 have a combined gross development value of RM1.2 billion, which includes Alora Residences and Amika Residences in Subang Jaya. The future earnings of the company are expected to receive a significant boost from these upcoming projects.
“Additionally, the company has already achieved a remarkable milestone in terms of unbilled sales, amounting to RM850 million as at June 30, 2023,” the company said in a statement.
In 2022, the company acquired a 4.02-acre land in Bangi, and this year, it made its first foray into Kuala Lumpur with the acquisition of a 1.57-acre land in Taman Seputeh and a 3.9-acre land in Taman Desa.
“These strategic land acquisitions further enhance Avaland’s growth potential and position the company for long-term success,” it said. — Bernama
