Paramount Property marks Penang Debut

Shah Alam, 15 November 2016 : Paramount Property, the property development division of public-listed Paramount Corporation Berhad (Paramount), today marked its debut in the Penang property market with the unveiling of Utropolis Batu Kawan, Penang’s first university metropolis.

Utropolis Batu Kawan mirrors the successful, award-winning university metropolis concept first introduced by Paramount at its Utropolis Glenmarie development in Shah Alam, Selangor. The Utropolis Glenmarie development, launched in 2013, marked the first time Paramount had brought its two businesses of property development and educational services together in one location. The launch captured the imagination of the property market, resulting in its first phase being sold out in a matter of days.

The 44.3-acre Utropolis Batu Kawan development, with an approximate Gross Development Value (GDV) of RM1.8 billion, comprises well-integrated residential, commercial, retail and hotel components, anchored by a new flagship campus for KDU Penang University College, owned and operated by Paramount Education. The 10.5-acre campus will be the biggest purpose-built campus in Batu Kawan when fully completed.

Speaking at a preview of the Utropolis Batu Kawan development held in Shah Alam today, Paramount Group Chief Executive Officer Jeffrey Chew said, “Utropolis Glenmarie is a visionary development that successfully showcases Paramount’s strength-through-synergy business strategy, which is anchored on generating maximum value by bringing together our two core businesses of property development and educational services in one location. Three years and two property awards later, Utropolis Glenmarie is fast transforming the industrial area of Glenmarie with its unique live-and-learn, work-and-play lifestyle.”

He added, “This is our vision for Utropolis Batu Kawan – to support Penang’s aim of making Batu Kawan its third satellite city, and the Central Business District & Lifestyle Hub of the Northern region. At over 6,000 acres, Batu Kawan is not just a major development, but also the only landbank in Penang and the entire Northern region that has infrastructure completed ahead of property developments.”

He said that university metropolises were unique in that they never grow old – the constant infusion of new students acts as a catalyst to attract lifestyle businesses and support services, creating a dynamic and evolving community.

“This in turn creates a vibrant real-estate market, with a constant demand for investment and rental residential properties, as well as commercial, retail and office spaces. As a pioneer participant of the Batu Kawan vision, we are well-positioned to take advantage of the growth opportunities this address offers with our unique university metropolis concept,” Chew concluded.

He added that Batu Kawan’s well-crafted masterplan was already attracting many international and lifestyle retail brands, led by Swedish giant IKEA and Design Village Penang, the Northern region’s first outlet mall.

Utropolis Batu Kawan, at the heart of Batu Kawan, Penang’s third satellite city, is strategically located one kilometre away from the Second Penang Bridge and the North-South Highway. It will consist of commercial, retail and residential properties, all surrounding the purpose-built KDU Penang University College campus.

Work on the development has commenced; the campus is scheduled for completion by 2019, while property components will be completed progressively from 2016. The first phase of the property development offering, comprising offices and retail shops, is now on sale, with gross prices starting from RM326,600.

For more information on Utropolis Batu Kawan, please visit the website Enquiries can also be directed to the Paramount Property Sales Gallery at 604-506 0350.