Petaling Jaya, 17 December 2025 – Paramount Corporation Berhad (Paramount) is acquiring three contiguous parcels of leasehold land measuring 48.489 acres at Mukim Bukit Raja, Daerah Petaling Jaya in Selangor, marking a strategic move to replenish its landbank at locations with strong growth potential and where it already has a strong reputational presence.
Prima Kuasa Sdn Bhd, a wholly owned subsidiary of Paramount, today entered into a sale and purchase agreement with SJ Properties Sdn Bhd, a local company principally involved in property development, to acquire 48.489 acres of leasehold land for a total cash consideration of RM113.5 million. The transaction will be funded via a combination of internally generated funds and bank borrowings.
The projected development – comprising residential property units of double-storey terrace homes, townhouses and low-rise condominium units – has been granted a development order and carries an estimated gross development value (GDV) of RM579.00 million over a period of six years. This will further strengthen Paramount’s current GDV of RM5.04 billion and is anticipated to contribute positively to the future earnings of Paramount’s group of companies.
The site is located within a new growth area of Shah Alam – Section U9 – along the Guthrie Corridor Expressway (GCE) and approximately three kilometres from the Damansara-Shah Alam Elevated Expressway and GCE interchange. Within a 10-kilometre radius from the site are established township developments with well-established amenities, namely Cahaya SPK, Sunway Kayangan, Denai Alam and the City of Elmina.
Paramount Group Chief Executive Officer, Jeffrey Chew, said, “Prudent land replenishment with development-ready land in a high-demand location is critical to sustaining our long-term growth. The site in Shah Alam presents a compelling opportunity, given its strategic location, strong connectivity and alignment with demographic and urbanisation trends, which continue to drive demand for quality housing in Selangor.”
Over the last two decades, Paramount has built a strong reputational presence in Shah Alam, anchored by the 524-acre Kemuning Utama township development (at tail-end of development), 20-acre Utropolis Glenmarie education metropolis (completed) and 30-acre Sekitar26 Enterprise commercial development (completed).
“We are particularly mindful of building where we have a proven track record. Our approach to build on the legacy in an area we understand well reinforces the trust we have earned with homebuyers and stakeholders,” Chew added.
Source: Paramount Corporation Berhad
