From left: Puan Muhaili Binti Mat Saad, Ketua Pegawai Bisnes, Lembaga Perumahan Negeri Pulau Pinang; Yang Berhormat Tuan Kumaran A/L Krishnan, Ahli Dewan Undangan Negeri (ADUN) Bagan Dalam; Yang Berhormat Tuan Lim Guan Eng, Mantan Ketua Menteri Pulau Pinang, Merangkap Ahli Parlimen Bagan; Yang Berusaha Tuan Khairulnizam Bin Hashim, Ketua Pegawai Eksekutif, Lembaga Perumahan Negeri Pulau Pinang; Yang Amat Berhormat Tuan Chow Kon Yeow, Ketua Menteri Pulau Pinang; Jeffrey Chew, Ketua Pegawai Eksekutif Kumpulan, Paramount Corporation Berhad; Yang Berhormat Dato’ Seri Sundarajoo A/L Somu, EXCO Perumahan dan Alam Sekitar Pulau Pinang; Yang Berhormat Chee Yeeh Keen, Ahli Dewan Undangan Negeri (ADUN) Bagan Jermal; Beh Chun Chong, Timbalan Ketua Pegawai Eksekutif Kumpulan, Paramount Corporation Berhad
Petaling Jaya, 25 October 2026 – Paramount Property, the property development segment of Paramount Corporation Berhad, through its subsidiary Paramount Property (Butterworth) Sdn Bhd, has entered into a development agreement with Lembaga Perumahan Negeri Pulau Pinang (LPNPP) for the proposed redevelopment of land in Ujong Batu, Butterworth, Penang.
The agreement covers approximately 15.3 acres of land in Seberang Perai Utara, with the proposed development to be undertaken in phases. The first phase will comprise 350 units of Rumah MutiaraKu affordable homes, in support of the Penang State Government’s efforts to improve housing accessibility.
The signing ceremony was held at The Light Hotel, Penang, in the presence of Yang Amat Berhormat Tuan Chow Kon Yeow, Penang Chief Minister, and Yang Berhormat Dato’ Seri Sundarajoo A/L Somu, Penang State Executive Councillor for Housing and Environment.
Paramount Corporation Berhad Group Chief Executive Officer, Jeffrey Chew, said the collaboration reflects the Group’s commitment to developing homes and communities that meet evolving needs.
“As The People’s Developer, we believe that property development is ultimately about improving lives and creating better places for people to live. We are pleased to have the opportunity to work with LPNPP on this initiative and contribute our development expertise towards the State’s housing aspirations,” he said.
The proposed redevelopment will be undertaken in accordance with the relevant planning requirements and regulatory approvals.
