Petaling Jaya, 7 January 2026 – Paramount Corporation Berhad (Paramount) is acquiring a parcel of freehold land measuring 2.62 acres in Putrajaya. This acquisition reflects Paramount’s disciplined land replenishment strategy, prioritising locations with solid long-term fundamentals, excellent connectivity and development readiness, particularly in areas where it has an established brand presence.
Phoenix Blanc Sdn Bhd, a wholly owned subsidiary of Paramount, today entered into a sale and purchase agreement with Cahaya Nusantara Sdn Bhd, a local company principally involved in property development, building contracting as well as resort and recreation operation, to acquire 2.62 acres of freehold land for a total cash consideration of RM40 million. The transaction will be funded via a combination of internally generated funds and bank borrowings.
Located within the Putrajaya Sentral masterplan, the site is located near the Putrajaya Sentral Station, which is the city’s primary integrated transportation hub connecting the MRT Putrajaya Line, the Express Rail Link (ERL) KLIA Transit and comprehensive bus networks, while offering seamless access to key destinations across Putrajaya, Cyberjaya, Kuala Lumpur city centre and Kuala Lumpur International Airport. The site is further supported by direct links to major road networks including the Putrajaya-Cyberjaya Expressway and Lingkaran Putrajaya, reinforcing its position as a highly connected urban development site.
The site is also complemented by its proximity to essential public amenities and key government facilities (such as Putrajaya Hospital) and established retail destinations (such as Dpulz Shopping Center). The surrounding catchment of education institutions (such as Limkokwing University) further enhances the site’s long-term appeal to both owner-occupiers and investors.
Paramount Group Chief Executive Officer, Jeffrey Chew, said, “Continuing our land replenishment momentum from last year – 363 acres of land purchased, with RM2.3 billion development potential – we have now penned our first land replenishment of the year. This acquisition reflects a deliberate and value-driven decision to invest in transit-oriented land, which we believe remains one of the most resilient and sought-after asset classes in urban development.”
The proposed high-rise residential development carries an estimated gross development value (GDV) of RM323 million, with an anticipated launch a year after the sale and purchase completion. This acquisition will further enhance Paramount’s current GDV of RM5.04 billion and is expected to contribute positively to the Group’s future earnings.
The land acquisition also benefits from secured development orders, enabling a swift transition from land purchase to project execution and reinforcing Paramount’s speed-to-market approach.
“Similar to our recent land acquisition in Mukim Bukit Raja in Shah Alam, which also comes with development approvals, the Putrajaya site is development-ready and allows us to move decisively. This positions us to capture strong residential demand for a transit-oriented development, while building on the brand trust we have established through our successful developments in the surrounding areas,” Chew added.
In neighbouring Cyberjaya, Paramount has established a strong track record through its award-winning Sejati developments comprising landed homes, including the 49-acre Sejati Residences (expected completion in 2028), 41.4-acre Sejati Lakeside 1 (completed) and 32.74-acre Sejati Lakeside 2 (completed).
Source: Paramount Corporation Berhad
