Paramount Corporation Bhd has proposed to acquire freehold commercial land in Kuala Lumpur for RM257.88 million. Pic by ParamountKUALA LUMPUR: Paramount Corporation Bhd has proposed to acquire freehold commercial land in Kuala Lumpur for RM257.88 million. The proposed development on the land comprises two blocks of high-end serviced apartments with a projected gross development value (GDV) of RM1.1 billion. The proposed acquisition would increase the group's total remaining GDV, which stood at RM4.8 billion as at Dec 31, 2025, and contribute positively to the future earnings of the group. Barring any unforeseen circumstances, the proposed acquisition is expected to be completed within three months from the date of the agreement.

Source: New Strait Times March 18, 2026 12:15 UTC