Moving with the Times and setting higher

P12
my. Developer
W
hile “location, location,
location” has always
been the mantra in
property development,
there’s a new catchphrase in town.
Datuk Ricque Liew, chief
executive officer of Paramount
Property Division, the property
development and construction arm
of Paramount Corporation Bhd,
said “design, design, design and
lifestyle, lifestyle, lifestyle is in for
today’s market and has to a certain
extent replaced location”.
He pointed out that developers
have to balance between having
the right location with lifestyle
offerings and unique design.
Failing to do so would leave them
MOVING with the TIMES
and setting higher standards
Paramount is moving from
developing townships to
high-end lifestyle products
Paramount’s first foray into high-end market
〈 BY PAVITHER SIDHU 〉
out of the consideration list of
prospective buyers.
The Paramount name has
been thriving in the property,
construction and education scene
since the 1980s. The company’s
reputable and quality products
with the Paramount brand are seen
in Taman Patani Jaya, Bandar Laguna
Merbok, Kemuning Utama, Bukit Banyan,
KDU University College, KDU College and
Sekolah Sri KDU.
Over the years, while the group remains
very active in education, it has also
KU Suites offers
affordable homes
for young urbanites.
The new commercial project
in Section 13 of PJ will be
within the vicinity of a bustling retail-commercial zone.
P13
propertytimes.my | ISSUE #6 | SEPTEMBER / OCTOBER, 2012
ventured into building quality, affordable
housing in purpose-built residential
townships and recently into developing
niche and high-end lifestyle homes.
Liew said the company’s philosophy
is “to balance the triple bottom line of
people, planet and profit”.
“The industry is moving towards better
built, high quality designed buildings that
pay greater attention to the soft and hard
landscaping of the environment. This is a
small but significant first step.”
He said the property market is ever
evolving and Paramount Property, in
moving along, will be anchored by these
four strategies.
Making changes to the business
model: Paramount Property is moving
from primarily landed township
developments to integrated projects
that offer a higher proportion of highrise
developments. This would keep the returns
consistent by managing land costs and
helping to make better profits on smaller
plots of land.
Active land banking: To add to its
sizeable land bank, it will continuously
buy land in the Klang Valley and upcoming
surrounding areas.
Targeting a new niche: Previously,
Paramount Property aimed at the
middle-to-upper price segment. Now, the
impending launch of Sejati Residences
in Cyberjaya, Selangor, represents a new
business segment in the higher-end
market.
Investing in the strongest asset: Looking
at ways to further improve the quality of
standards, while consistently delivering
value to its customers, Paramount Property
has put in place a comprehensive talent
development plan and is actively hiring the
brightest in the industry.
The new Sejati Residences and other
development projects in the pipeline have
further strengthened Paramount Property’s
standing as a game-changing multiproject developer. While building new
businesses is the focus for the future, the
developer continues to build value in the
existing projects.
Paramount Property is expanding its
RM1.6 billion Kemuning Utama township
with KU Suites serviced apartments
designed with young couples and
professionals in mind. The fully fitted units
are priced from RM450psf and feature
built-ups from 600sq ft. The gated-andguarded KU Suites has full facilities and
enjoys the additional advantage of being
located within a mature township.
In the northern region, it won the
Fiabci-Malaysia Award for Best Residential
Development 2004 for Bandar Laguna
Merbok in Sungai Petani, Kedah, and
recently embarked on another township
named Bukit Banyan with total land area
of 520 acres planned as a gated-andguarded development.
“T
The 30-acre Harper City will
inject fresh dynamism into
the inner city of Klang.
Glenmarie’s RM730 million
project will cater for young
city dwellers.
About 25 acres of hill parks, 20 acres
of water parks and a 13-acre commercial
centre have been allocated as part of the
amenities within the township. The first
phase will contain 236 double-storey
terrace homes with built-ups from 2,318sq
ft and 68 double-storey semi-dees with
built-ups from 3,265sq ft. These are
priced from RM269,900 and RM465,900
respectively.
Paramount Property also has several
land parcels in Glenmarie, Shah Alam
and Klang as well as Section 13 and Kota
Damansara in Petaling Jaya.
The Glenmarie land acquired in 2009
will be an integrated development with an
estimated gross development value (GDV)
of RM730 million and positioned to cater
for urbanites. The 30-acre parcel close by
Shah Alam, acquired for RM125 million,
will have a GDV of RM360 million. This
will be developed into a freehold business
park which will include SoHo (small
office-home office) units and
boutique factories.
In Klang, the 30-acre former
Fung Keong Factory land at
Jalan Goh Hock Huat will be
transformed into a modern inner
city commercial and residential hub
in downtown Klang. It is slated for
launch by 2013.
In Petaling Jaya, a new
integrated development of SoFo
(small office-flexible office) units,
residential units and offices located
near the bustling retail-commercial
zone of Section 13 is in the works.
The five-acre tract has an estimated
GDV of RM321 million.
Elsewhere, a nine-acre mixed
development in Kota Damansara
close to the proposed Sungai
Buloh MRT station is at the design
planning stage.
Liew said Paramount Property
remains committed to offering
quality homes, interesting lifestyles
and outstanding value in the years
to come “with benchmarks by
which we measure our success”.
“Are we providing design and
lifestyle offerings in locations with
good potential in maturity? Are
we respecting the triple bottom
line of people, planet and profit
in growing our revenues while
continuing to develop our people
and communities? And are we
giving our stakeholders, not just
shareholders, a good return on
their investment?
“We would be guided by these
questions as we progress in the
property development industry,”
Liew added.
he challenges
faced by the
industry today
have forced us
to rethink what
we build so we
can meet market demands and continue
to provide fair and equitable returns to
our stakeholders,” said Datuk Ricque Liew,
CEO of Paramount Property Division, the
property development and construction
arm of Paramount Corporation Bhd.
In line with diversifying its property
offerings by focusing on market-centric
developments, Paramount Property
has moved on from developing typical
townships to the high-end market via its
maiden 50-acre freehold development
called Sejati Residences located in
Cyberjaya.
The RM800 million gated-and-guarded
enclave exemplifies exclusivity with
spacious built-ups, private facilities and
sustainable built environment just 32km
away from Kuala Lumpur city centre.
There will be 249 units of three-storey
bungalows, semi-dees and superlink
homes set amidst natural surroundings.
These will be built in three phases.
The developer will be unveiling 78
units in the first phase consisting of 26
three-storey superlink homes with builtups from 3,805sq ft. These will have fourplus-one bedrooms and are priced from
RM1.4million.
In addition, there will be 28 threestorey semi-dees with built-ups from
4,287sq ft to 4,960sq ft and come in
five-plus-one bedrooms. Thoughtfully
designed, some of the semi-dees will have
“an evocative bouquet” placed literally at
the doorstep in keeping with a ribbon of
greenery that will link these units.
The gated-andguarded Sejati
Residences will
feature a host of
nature friendly
elements.
Meanwhile, the majestic homes,
which will be the 24 units of three-storey
bungalows with built-ups from 5,379sq
ft to 5,890sq ft and come in six-plus-one
bedrooms, will be pegged from RM3.4
million.
Sejati Residences will feature an
entrance statement, dubbed the Garden
of 5 Senses, to stimulate the five senses of
sight, sound, smell, touch and taste.
The herb garden comprising edible
plants and spices will take shape beside a
fully-equipped clubhouse. To add charm
and character to the clubhouse, the
columns and beams will be made from
recycled Cengal wood salvaged from a
73-year-old building.
In keeping with the green elements
in the development, there will be openair seating areas and fitness stations,
an 8km jogging trail, reflexology path
and playground as well as ornamental
flowering trees, colourful plants and
shrubs.
All units boast spacious layouts
for that feel of extravagance.
“At the same time, we are continuing
with the development of Kemuning
Utama, Bandar Laguna Merbok and our
new Bukit Banyan township in Sungai
Petani. As for the luxury Sejati Residences,
we have a very strong pool of Paramount
loyalists. Moreover, this new project offers
new opportunities for upgrades and
investment,” Liew noted.
Waking up to lush greenery, fresh air and sounds of
birds chirping is a Sejati experience.