KUALA LUMPUR (Jan 7): Paramount Corporation Bhd (KL:PARAMON) said it is acquiring a 2.62-acre parcel of freehold land in Putrajaya for RM40 million and plans to develop a residential project with an estimated gross development value (GDV) of RM323 million on the site. The land also has direct access to major road networks, including the Putrajaya–Cyberjaya Expressway and Lingkaran Putrajaya. Paramount plans to develop a high-rise residential project on the site, with a launch expected about a year after completion of the sale and purchase. The project will add to Paramount’s current GDV of RM5.04 billion and is expected to contribute positively to future earnings. Paramount said the land comes with secured development orders, allowing for a swift transition from acquisition to project execution.

Source: The Edge Markets January 07, 2026 14:14 UTC