Updates

HOC contributes 70% to Paramount’s property sales in 1H19

Paramount Corporation Bhd Group CEO Jeffrey Chew Sun Teong

Aug 29, 2019: PARAMOUNT Corp Bhd’s projects registered under the government’s Home Ownership Campaign (HOC) 2019 have contributed about 70% of total sales in the first half of 2019 (1H19).

The developer made RM310 million worth of property sales in the six- month period.

“Our projects that are registered under the HOC contributed about 70% of our total sales in 1H19.

“The main sales were from our projects in the northern region — including Bukit Banyan in Sungai Petani, Kedah, and Utropolis Batu Kawan in Penang — which together contributed RM150 million in sales,” Paramount Property Development Sdn Bhd CEO Beh Chun Chong (picture) told The Malaysian Reserve at the group’s 1H19 performance briefing in Shah Alam, Selangor, yesterday.

Paramount Property’s projects registered under the HOC include Greenwoods in Salak Tinggi, Sejati Residences in Cyberjaya and Atwater in Petaling Jaya, among others.

“If there is no HOC, it does not mean that our sales will only be 30% of the total. Some of the buyers buy because of the HOC, some of them would want to buy anyway, but they still want to wait for the HOC to save some money,” Paramount Corp CEO Jeffrey Chew said.

“We have to thank the government for initiating the HOC and extending the HOC as well,” he added.

Chew said the company aims to achieve a sales target of RM1 billion this year, banking on the Atwate’’s commercial units which are intended to be sold en bloc, as well as new development launches.

Paramount Property is expected to launch projects worth RM900 million in 2H19, including new developments at Kemuning Idaman in Shah Alam and Berkeley Uptown in Klang.

Kemuning Idaman is an affordable housing project which has a gross development value (GDV) of RM113 million, targeted to be launched in the third quarter of 2019.

Berkeley Uptown’s Phase 1, which consists of serviced apartments with a GDV of RM222 million, is expected to be launched in 1H19.

Other projects include link-houses in Greenwoods with a GDV of RM136 million; Sejati Lakeside in Cyberjaya (RM132 million GDV); Utropolis Batu Kawan’s commercial and serviced apartments Phase 3 (RM222 million GDV); and Bukit Banyan’s terrace houses and bungalows (RM80 million GDV).

As at 1H19, Paramount Property’s unbilled sales rose to RM978 million — a record high for the group.

The group has a total of 132 unsold units worth RM110 million in the period. Commercial projects made up the bulk of the inventory with 95 units worth RM94 million and mainly contributed by its newly-launched Sekitar26 project in Shah Alam with 47 units worth RM62 million.

As for the residential projects, Bukit Banyan contributed the highest inventories with 29 units worth RM6 million.

Paramount Property has 219.8ha of undeveloped land bank with a potential GDV of RM7.7 billion over the next nine years.

Paramount lancar enam lagi projek GDV RM900 juta

Aug 28, 2019: SHAH ALAM: Pemaju pembangunan, Paramount Corporation Bhd (Paramount) akan melancarkan enam lagi projek pembangunan baharu pada separuh kedua tahun ini dengan nilai pembangunan kasar (GDV) keseluruhan RM900 juta.

Ketua Eksekutif Kumpulan Paramount, Jeffrey Chew berkata empat projek pembangunan berkenaan adalah di Selangor (Shah Alam; Klang; Salak Tinggi dan Cyberjaya) manakala masing-masing satu di Pulau Pinang dan Kedah.

Katanya, kesemua projek pembangunannya mempunyai faktor jualan unik seperti mempunyai akses dengan kebanyakan lebuh raya utama dan terletak berhampiran dengan kemudahan awam.

“Walaupun pasaran hartanah masih perlahan pada masa ini, kami masih menerima sambutan yang memberangsangkan daripada pembeli untuk setiap projek pembangunan yang dilancarkan.

“Buktinya, kami merekodkan purata jumlah belian sebanyak 81 peratus pada separuh pertama tahun ini dengan jumlah jualan belum dibilkan meningkat sebanyak 13 peratus kepada RM978 juta berbanding tempoh sama tahun lalu,” katanya pada sidang media prestasi separuh pertama 2019 di sini, hari ini.

Pada separuh pertama tahun ini, Paramount mencatatkan jualan hartanah sebanyak RM310 juta.

Selain itu, kumpulan turut mencatat peningkatan perolehan sebanyak sembilan peratus kepada RM479 juta berbanding tempoh sama tahun lalu.

Mengulas lanjut, Chew berkata Paramount juga masih mengekalkan sasaran jualan segmen hartanah sebanyak RM1 bilion pada tahun ini.

“Sama ada ia boleh dicapai atau tidak, ia bergantung kepada kemampuan unit pemasaran kami untuk memeterai perjanjian sewa beli dengan pembeli yang sudah membuat tempahan menggunakan cek.

“Ia hanya boleh diketahui pada September depan. Jika ia tidak mencapai sasaran RM1 bilion, kami menyasar untuk meraih jualan sekurang-kurangnya RM800 juta,” katanya.

Sementara itu, Paramount turut mengembangkan operasinya dalam segmen ruang kerja bersama menerusi pembukaan dua ruang iaitu di Naza Tower dan Sekitar26.

“Kami menyasar untuk menyiapkan satu lagi ruang di Starling Mall menjelang suku keempat tahun ini.

“Dengan modal belanja antara RM3 juta hingga RM4 juta yang diperuntukkan bagi setiap ruang kerja bersama itu, kami menyasar ia akan menyumbang sebanyak 10 peratus hingga 20 peratus kepada perolehan kumpulan,” katanya.

Paramount plans RM900m property launches, to double co-working space

SHAH ALAM (Aug 28, 2019): Paramount Corp Bhd said today the real estate developer is planning new property launches worth some RM900 million in the second half of 2019 to achieve its RM1 billion sales target for the year.

Group chief executive officer Jeffrey Chew said the group has secured property sales of some RM310 million in the first half of 2019 compared to about RM600 million in the first half of last year. However, Paramount is maintaining its 2019 property sales target at RM1 billion.

“As at end-June 2019, the group has unbilled sales of about RM978 million,” Chew told reporters here today during a fund managers and analysts’ briefing on Paramount’s financials.

He said the unbilled sales is expected to provide clear earnings visibility for the group in the next three years.

The co-working space business is expected to be a growth story in Paramount. Chew said Paramount aims to double its co-working space to 200,000 square feet within the next one and half years.

He said the group, which has existing co-working spaces in several Klang Valley locations, plans to open between two and four co-working spaces every year by allocating capital expenditure of between RM3 million and RM4 million for each co-working space.

He said the group has existing co-working spaces within Shah Alam’s Glenmarie and Sekitar 26 enclaves besides The Starling mall in Petaling Jaya and Naza Tower within the Kuala Lumpur City Centre.

“We hope that this business (co-working) can get RM20 million to RM30 million in terms of revenue for the next three to five years. We have secured a turnover of RM1.3 million for the first half of this year. For the full-year, the number will double to RM3 million to RM4 million as we have more locations.

“Next year, we are looking to further grow the number to RM12 million to RM15 million,”  Chew said.

Sayangi Rumahku: PPR Lembah Subang 1 sports courts refurbishment completing soon!

Paramount Property COO Wang Chong Hwa helping out with the sports courts refurbishment. (Photos by Low Yen Yeing/EdgeProp.my)

PETALING JAYA (August 27, 2019):  PPR Lembah Subang 1 residents may just see their old badminton courts completely refurbished and repurposed as colourful multi-purpose sports courts this coming National Day!

Working over several days under the inclement weather, more than 40 volunteers from PPR Lembah Subang 1, Paramount Property, Nippon Paint Malaysia and EdgeProp.my spent over six hours a day to realise the project in time for Aug 31.

The project  is part of the Sayangi Rumahku campaign undertaken jointly by EdgeProp.my,  Paramount Property Development and Nippon Paint Malaysia in support of the National Community Policy or Dasar Komuniti Negara (DKN) formulated by the Housing and Local Government (KPKT) Ministry to improve the lives of the B40 group.

The senior management of these companies also took part in a painting session today including Paramount Property COO Wang Chong Hwa, Nippon Paint Malaysia assistant manager of marketing Gabriel Ng and EdgeProp.my advertising and marketing associate account director Heidee Ahmad.

Nippon Paint Malaysia assistant manager of marketing Gabriel Ng (centre) playing his part in the refurbishment effort.

When completed, the previously dilapidated badminton court of Lembah Subang 1 will be coated in  vibrant red, yellow, blue and white: the colours of the Malaysian  flag. It will be used as a multi-purpose sports court for badminton and futsal as well as a space for communal activities and gatherings.

Under the Sayangi Rumahku campaign, besides PPR Lembah Subang 1, PPR Seri Cempaka and Perumahan Awam Seri Kedah will have their sports courts refurbished next. The private sector initiative is expected to benefit close to 16,000 residents living in 4,116 units in these three public housing schemes.

Click here to learn more about the Dasar Komuniti Negara and how you can help

EdgeProp.my advertising and marketing associate account director Heidee Ahmad (right) putting her painting skills to good use.