The People’s Developer
In 1978, Paramount acquired a real estate company, and was restructured into a property development company, making it one of Malaysia’s oldest property developers. Paramount assumed its present name in 1980 to better reflect its business activities. Two years later, Paramount acquired four property development companies and commenced property development activities in Sungai Petani (Paramount ceased its rice milling operations in 1984).
From Townships to Integrated Developments
Paramount Property’s first property development project was Taman Patani Jaya in Sungai Petani. It was launched in 1981, and established a new industry benchmark in township design and planning.
Having established a reputation for quality and reliability in the Northern region, Paramount increased its landbank in the area with the acquisition of 500 acres of land in November 1994. This led to the launch of its award-winning Bandar Laguna Merbok township – a luxury riverside residential address launched in 1996, which houses Kedah’s first gated & guarded community.
In line with Paramount's strategy to expand into high growth areas, the company acquired 524.7 acres of freehold land in the Klang Valley in June 2003. Paramount Property’s first township in the Klang Valley, Kemuning Utama, is today a mature, self-contained township located along the KESAS Highway, with early owners enjoying strong appreciation in property values. Kemuning Utama is also home to Paramount Property’s first high-rise development, KU Suites.
On the back of the success of Bandar Laguna Merbok, Paramount added 520 acres of land in Sungai Petani in December 2006, which led to the launch of the Bukit Banyan forest development in 2012. Sungai Petani’s only gated & guarded hilltop development, Bukit Banyan features lush landscapes and themed parks.
In 2007, Paramount made a strategic decision to venture into commercial and industrial property development, acquiring 5.2 acres of industrial land in Petaling Jaya for a proposed commercial development. This was followed by the acquisition of two parcels of industrial land totalling 13.2 acres in January 2008, for Paramount’s Surian Industrial Park in Kota Damansara. Another two parcels of industrial land measuring approximately 9.4 acres were acquired in February 2008; development has been put on hold pending application to convert the land use from industrial to commercial, to maximise returns.
Recognising the potential of the IT-centric Cyberjaya township, Paramount acquired 50 acres of freehold residential land there in June 2010, and in 2013, launched the gated & guarded Sejati Residences development. Paramount Property’s first ever high-end development, Sejati Residences is built around the concept of “Inviting the Outdoors In” and is anchored by the iconic Chengal House residents’ clubhouse. Built using 200-year-old chengal wood, Chengal House is Paramount’s tribute to the beauty and resilience of Malaysian hardwoods.
In June 2011, Paramount entered into a 50-50 joint venture with an Australian company to acquire 54.2 acres of land known as Crown Allotments 4A and 4B at Leakes Road, Rockbank, Victoria, Australia, for future development.
In December 2011, Paramount completed the acquisition of 29.2 acres of commercial land in Klang Town, earmarked for the future development of a lifestyle-themed integrated commercial hub.
In February 2012, Paramount completed the acquisition of 21.8 acres of freehold land in Glenmarie, Shah Alam, and launched Paramount Utropolis, a live-and-learn, work-and-play university metropolis the following year. The township features high-rise residential and commercial properties, as well as Paramount Property’s first retail property, Utropolis Marketplace. Anchored by the 10-acre flagship KDU University College campus, Paramount Utropolis marks the first time Paramount has brought its property development and education businesses together.
In 2013, Paramount acquired 30.3 acres of industrial land in Shah Alam, creating a commercial hub with an urban DNA called Sekitar26. The business component, Sekitar26 Business, was launched the same year, and is a boutique industrial development designed for a myriad of business uses, with seamless access to the larger Sekitar26 development.
In March 2014, Paramount cemented its position as a leading developer in the Northern region with the acquisition of 30 acres of freehold land in Batu Kawan, Penang, from Penang Development Corporation. The land, located approximately 5.5 km from the Second Penang Bridge, comprises 10 acres of institutional land and 20 acres of land for integrated development. The acquisition not only marks Paramount Property’s entry into the lucrative Penang property market, but also paves the way for the creation of Penang’s first university metropolis, which will be anchored by a new KDU College campus, mirroring Paramount Utropolis in Glenmarie.
In February 2015, Paramount completed the acquisition of a 65-acre landbank in Machang Bubuk, Penang. This future development has been earmarked for medium-cost landed residential development.
In September 2015, Paramount completed the acquisitioning of 238 acres of freehold land in highly ccessible Sepang-Salak Tinggi, Selangor, and launched Greenwoods Salak Perdana, Paramount Property’s second township development in the Klang Valley that offers wide inviting spaces, tranquil parks and abundant greenery.
An Award-Winning Developer
Along the way, Paramount Property has garnered several awards, including the 12th FIABCI-Property Award of Distinction 2004, Residential Development Category for Bandar Laguna Merbok, a first for a development outside the Klang Valley.
Paramount achieved another major milestone when Sekolah Sri KDU won the FIABCI-Malaysia, Malaysia Property Awards 2005 in the Specialised Project category for its first purpose-built private smart primary and secondary schools. Sekolah Sri KDU was also named the first runner-up in the Specialised Category of FIABCI International Prix d’Excellence 2006.
Paramount Property also enjoys a strong reputation as an employer of choice, garnering the HR Asia Best Companies to Work for in Asia Award in 2013.
In March 2015, Paramount Property garnered two awards at the Property Insight Inaugural Prestigious Developer Awards – Best Boutique Development Award for Sejati Residences and Best Self sustained Development Award for Paramount Utropolis – further raising the profile of Paramount Property as the people’s developer.
In September 2015, Paramount Property was honoured with two awards at the Malaysian Construction Industry Excellence Awards (MCIEA) 2015: Best Project Award in the Small Project, Building Development category for pushing construction boundaries in the use of reclaimed timber with the construction and completion of Chengal House; and a special mention for the Green Construction Special Award in recognition of Chengal House’s green construction concepts and practices as well as environmental impact. These awards are the culmination of a memorable journey that began in March 2013, when an abundance of chengal wood was discovered at a 70-year-old factory purchased by Paramount Property.
And in March 2016, Paramount Property garnered the All-Star Award at the inaugural StarProperty.my Awards 2016, in recognition of its achievements in engaging, supporting and serving customers and communities. Its Paramount Utropolis development in Glenmarie also received an Honours Award in the Just Walk category. Paramount Utropolis’s winning factor was its concept of a university metropolis, built with amenities within the development’s walkability range – hence the ‘just walk’ factor.
Today, Paramount Property is a full-spectrum integrated property developer, with residential, commercial, retail, education, industrial and integrated developments. Leveraging on its track record for building highly valued addresses that stand the test of time, Paramount continues to grow its landbank to create desirable addresses that feature innovative, practical designs to meet the needs of the growing Malaysian population, which in turn cements its reputation as the people’s developer.