Introducing the Paramount Property Circle – Our new loyalty programmes for our close-knit homebuyer community. As part of the Circle, you will be entitled to cash rewards of up to RM 16K and savings of up to 2% on your next purchase.
Even though property is a favoured asset in Malaysia, it was not spared by the pandemic. The property market declined in the first half of 2020, with the number of transactions falling 28% as value of those transactions fell 32% on-year to RM47 billion.
In line with that, property player Paramount Corp’s saw earnings swing to a loss as revenue fell 70% on-year in the second quarter.
Is the worst over for Paramount?
From spacious family homes to stylish modern suites, Utropolis Batu Kawan has something for everyone. A university metropolis complimented by one of Australia’s best universities, UOW Malaysia KDU Penang University College, Utropolis Batu Kawan is an integrated township with education, leisure, wellness, retail and residential elements coming together as one vibrant and holistic address.
Currently in its third phase of development, Utropolis Batu Kawan offers two distinct residential choices, Suasana and Sinaran, each answering to different homeowner’s needs.
Suasana is your perfect family home
Just as its name suggests, Suasana accords you with a cosy ambience to come home to. Offering a generous built-up of 1,313 sq ft, these capacious residences are particularly designed for growing families. It features a total of 3 bedrooms and 1 master suite connected via a dual-key concept, making it suitable for multi-generational living and provides the opportunity for a passive income without the expense of your privacy.
As you step into this homey abode, you will discover natural sunlight coming into every room, a feature rarely found in high-rise residences. Not only that, full width glass panels of up to 15 ft wide at the living area brightens up the entire home and gives you a spectacular view of the horizon.
Fast facts on Suasana:
√ Ideal size for families at 1,313 sq ft
√ 3 bedrooms + 1 master suite
√ Versatile layout offers flexibility to extend room sizes according to your needs
√ Dual-key feature offers passive income opportunities
√ Separate wet and dry kitchen areas
√ Natural sunlight to every room
√ Full width glass panels brighten the entire living area
√ 5-tier recreational indulgences designed for the whole family
Sinaran for the young and ambitious
Sinaran, on the other hand, offers the choice of a smaller living space ranging from 667 sq ft to 1,044 sq ft, making it an affordable first home for many young adults. Designed to suit today’s modern lifestyle, the entire place is conceptualised with stylish comfort and classy leisure in mind.
Living up to the tagline “Living without Boundaries”, the development features an impressive list of up to 50 recreational facilities, amongst them are an outdoor cinema, smart co-working spaces, hammock garden, 50m Olympic length swimming pool, boxing ring and more.
Fast facts on Sinaran:
√ Cosy residential suites from 667 sq ft to 1,044 sq ft
√ Stay-work-play concept with co-working spaces, co-kitchen, meeting room, sauna room, glamping deck and more
√ Offers up to 50 recreational facilities
√ 5-tier smart security system with digital locks
√ Selective units with dual key feature
Pay only RM1,000 to own your dream home*
With the recent launch of Utropolis Batu Kawan’s U-Want-to-Buy campaign, it’s so easy and affordable to own a home in this self-contained township. With a booking fee as low as RM1,000* and an Easy Entry Package that saves you so much more, now is the best time to make your move. Interested purchasers are also urged to take advantage of the extra incentives offered under HOC 2020.
Not only that, all units at Suasana and Sinaran are furnished with kitchen cabinets, hood & hob, fitted bathrooms, water heaters and digital lock sets making moving in seamless and hassle-free for you.
So don’t miss the opportunity to own this prime address strategically located just 1km from the Second Penang Bridge. Whatsapp or call 012-501 0733 for more information or visit paramountproperty.my/utropolis-batu-kawan/ for a virtual tour of these homes today!
*Terms and conditions apply
The refurbishment continues! On a slightly overcast Saturday morning on Sept 5, some 12 community volunteers from Perumahan Awam Seri Kedah or Flat Seri Kedah public housing scheme here in Gombak Setia, Kuala Lumpur rolled up their sleeves to begin refurbishment works on their outdoor sports court.
Work began as early as 8am and as usual, the court was cleaned up before the application of acrylic sealant. And, in line with the standard operating procedures (SOPs) prescribed by the Health Ministry during the Recovery Movement Control Order (RMCO), volunteers were required to observe physical distancing rules and wear face masks.
Compared to previous refurbishment works in PPR Lembah Subang 1 and PPR Seri Cempaka, this court in Seri Kedah is the largest of the lot and comes with concrete slides and a gazebo.
Besides community volunteers, staff from EdgeProp.my, Paramount Property Development Sdn Bhd and Nippon Paint Malaysia also helped out in the painting works, to give the facility a colourful makeover throughout September.
“This is a great project. The refurbishment of the court allows the residents to utilise the area for events in the future as well. There is no need to hold them on the narrow roads around the housing area and block traffic.
“When [the painting] is done, it will lead to merrier surroundings and also encourage youths to come over and engage in sporting activities,” the president of Seri Kedah residents association Hassan Basri Osman told EdgeProp.my.
Another community volunteer, Basiroh Abdul Kamil, who has lived in Flat Seri Kedah for over 30 years, described this housing estate as her “kampung”, where everyone gets along well with each other, with numerous gatherings and activities held at the sports courts.
“However, there is still a lack of community awareness in taking proper care of the communal facilities. The condition of the sports courts dilapidated over the years and a refurbishment or upgrading is important to make this a safe place for the community,” said Basiroh, who is also a committee member of the Seri Kedah residents association.
Nabil Nasyriq, who also volunteered in the painting of the facilties, felt happy to contribute to the community where he was born and raised.
“The sports courts are important to the community as they offer an outlet for the youth to utilise for their sporting activities. We appreciate this project [Sayang Rumahku] as it helps to upgrade the condition of the sports courts and it also promotes volunteerism and strengthens our community bonds, and I am grateful for being involved [in Sayangi Rumahku]” said the 28-year-old resident.
The Sayangi Rumahku campaign is a joint effort by EdgeProp.my, Paramount Property and Nippon Paint Malaysia in support of the National Community Policy or Dasar Komuniti Negara (DKN) formulated by the Housing and Local Government Ministry which aims to improve the lives of the B40 group.
Started in July 2019, Sayangi Rumahku has completed the refurbishment of sports courts in PPR Lembah Subang 1 and PPR Seri Cempaka.
Meanwhile, stay tuned for more updates as the volunteers add more splashes of colour to the courts over the following week.
The refurbishment will see the outdoor badminton courts in Flat Seri Kedah turned into one large multipurpose space that will provide the residents with three badminton courts and a futsal court, as well as an event space.
KUALA LUMPUR (Sep 2): Paramount Corp Bhd remains bullish on the prospects of the property market as interest rates remain low, saying it will help regain demand that was affected during the Movement Control Order period.
As a result of the restricted movement policy, Paramount’s property sales for the cumulative six months ended June 30, 2020 (1HFY20) came in at RM193 million, compared with RM310 million for the corresponding period last year.
This affected the group’s second quarter ended June 30, 2020, which ended in the red with the group posting a net loss of RM3.7 million compared with a net profit of RM28.47 million a year ago.
For 1HFY20, however, the group’s net profit surged 13 times to RM463.25 million from RM34.63 million a year ago, contributed by the gain recognised on the disposal of its pre-tertiary education business of RM460.6 million.
Paramount group chief executive officer Jeffrey Chew said the group’s prospects for 2HFY20 will be boosted by higher property launches.
Paramount has an estimated RM640 million worth of launches in the pipeline — all residential — which is 121% more than what the group launched in 1HFY20, said Chew.
It also had unbilled sales of RM873 million as at June 30, 2020, which will continue to provide some visibility on its cash flow in the near term, Chew said. The pace of conversion into billings, however, will largely depend on construction progress.
“Demand has picked up a lot. Why? Government initiatives have helped, but one other important factor is low interest rates.
“And this low interest rate environment is very favourable to property developers. Hence, I am very bullish on Paramount and all developers,” he told a media and analyst briefing on the group’s 1HFY20 financial performance today.
Meanwhile, the group is sitting on a cash pile of RM324.4 million, which will enable it to do more land acquisitions in the near future, he said. As at June 30, 2020, Paramount had 505.1 acres of undeveloped land in the Klang Valley, Kedah and Penang.
On the government’s proposed vacancy tax on property developers, Chew said Paramount would not be taxed as much if it materialises, as the company does not have many vacant units. However, he acknowledged that other property players could be adversely affected.
Last month, the Housing and Local Government Ministry announced that it was formulating a tax that could be imposed on developers who fail to sell their properties as early as 2021, in an effort to reduce overhang of residential units in the country.
“If they do this, the supply will become very specific because property developers do not want to be taxed. Developers will be even more worried to do new launches. It will curtail supply, and will therefore drive prices up.
“So I believe it’s not a good move and there are other ways to go about this. With the Covid-19 pandemic still ongoing, many people need a place to stay so we need house prices to be cheap,” Chew added.
KUALA LUMPUR: Paramount Corp Bhd remains bullish on the property sector’s prospects in emerging markets, especially in Malaysia, for the second half of the year, despite the uncertainties caused by the Covid-19 crisis.
Group chief executive officer Jeffrey Chew Sun Teong said the property take-up rate is expected to recover in later this year due to the gradual reopening of the economy since the implementation of the recovery movement control order (MCO).
“Our employment market is very stable, if compared with the United States, and that is just for government services.
“We also have a number of government-linked companies in the country, which makes it a bit harder for retrenchments because the government wants to preserve employment, ” he told a media briefing on the company’s first-half financial performance 2020 yesterday.
Besides the employment market, he said, Malaysia also has other strengths to support its economic recovery, including its status as a commodity-based country.