Nov 3, 2019: TO FIABCI Malaysia’s Property Man of 2019, Paramount Corporation Berhad chairman and executive director Datuk Teo Chiang Quan, the timing of the award could not be better as the company is celebrating its 50th anniversary this year with the theme ‘Building a legacy for tomorrow’.
“What beautiful timing!” exclaimed Teo, 70, also known as CQ to his friends, adding that “together with my team, we have created what Paramount is today.”
Reflecting on his journey with Paramount, Teo considers it both a blessing and great honour to receive the Property Man of 2019 Award.
On the secret behind Paramount’s achievements, Teo said, “Even in our early days of property development, we ensured our homes are designed with sensitivity to homeowners’ needs while accommodating the religious and social needs of the community.”
“Quality finishing, practical use of space and functional layouts are our trademarks.
“Building with the people in mind, be it townships, stand-alone industrial, commercial or residential properties, Paramount fulfils the trust it is given through timely and ahead-of-schedule delivery of their projects,” he added.
To Teo, sustainability means delivering value to customers and employees. This is achieved by taking a long-term view in its decisions and actions while delivering value through responsible shareholder returns.
“To future proof our organisation, we adapt to industry trends,” citing how Paramount via its subsidiary, Co-labs Coworking, has innovated the business of shared working space and expanded to over 100,000sq ft in various locations in the Klang Valley.
“Paramount also believes in investing in diversity, including in younger people to bring the company forward,” he said.
Sharing the credit of his Property Man of 2019 Award with his team, Teo said the Paramount leadership team are all professionals.
His son Benjamin, 30, is the only other family member in the leadership team of his fourth-generation family business.
On the continuity of his legacy, he assured Paramount is in the good hands of his team, who are upholding the company’s vision, mission and core values, namely trust, respect, integrity, bravery and energy.
Teo said Fiabci plays an important role as the voice of the property industry. Through its various initiatives, Fiabci has highlighted outstanding designs and themes, raising project quality standards across all aspects, including workmanship, financial viability, functionality and environmental consciousness.
“Fiabci Malaysia Property Award recognises outstanding efforts in this area and inspires specialists in property development to achieve greater heights.”
Elaborating on the formula behind Paramount’s achievements, he said it is about winning the trust of both customers and employees by consistently providing quality products and services.
“Our property arm, Paramount Property has earned the reputation of being – The People’s Developer,” he said.
Paramount’s projects in north and central regions
Paramount’s (and Kedah’s too) first gated and guarded (G&G) community, Bandar Laguna Merbok in Sungai Petani, was the first project outside of the Klang Valley to win the Fiabci Malaysia Best Residential Development award. That was in 2004.
Its other award-winning township, Bukit Banyan, represents Sungai Petani’s first hillside G&G development. Expected to be completed by 2027, it also houses Paramount’s northern regional office and sales gallery, Wisma Paramount, Kedah’s first Platinumrated green building.
Teo said the trust from its buyers extends to a few generations, partly due to the synergy between Paramount’s core businesses in property and education.
Examples are Paramount’s Utropolis developments in Glenmarie, Shah Alam, and Batu Kawan, Penang, which bring two businesses into one location.
Utropolis Batu Kawan, anchored by KDU Penang University College, is viewed as a game changer for Penang.
In the central region, Paramount’s projects include Kemuning Utama, its first township in the Klang Valley with G&G precincts; and Sekitar26 in Shah Alam, where Paramount Property’s head office is located.
In Cyberjaya, Paramount has two projects – Sejati Residences and Sejati Lakeside. The former, being Paramount’s first high-end residential development, is built around the concept of inviting the outdoors in.
Its iconic clubhouse, Chengal House, built with 200-year old upcycled chengal wood, has won multiple awards, including a world Fiabci award.
Paramount’s projects in Selangor include Greenwoods Salak Perdana in Sepang, and Atwater serviced apartments and office towers in Petaling Jaya.
Some of Atwater’s residential units come with senior-friendly living features such as enlarged bathrooms that are wheelchairfriendly, besides reachable switches and handlebars.
“The apartments are 98% sold,” Teo said.
With nine on-going projects, Paramount will be busy over the next few years. In Klang, he said Berkeley Uptown, an urban regeneration project anchored by the Sri KDU International School, will be Paramount’s new frontier of mixed development. The campus will open in 2021 and be a catalyst for Klang’s regeneration.
Paramount aims to be a pure property player upon completing the divestment of controlling stakes in its education business.
“It has been an amazing journey,” quipped Teo, “and we look forward to more exciting times ahead.”