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> PARAMOUNT CORP'S ASIA JAYA SEC 14 PETALING JAYA, Building Blocks, Building TOD (Investment)

accetera
post Dec 23 2017, 05:24 PM, updated 7 months ago

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Paramount, Kumpulan Hartanah Selangor to develop RM1b GDV project in Petaling Jaya
Posted on 22 December 2017 - 07:38pm

PETALING JAYA: Paramount Corp Bhd, together with landowner Kumpulan Hartanah Selangor Bhd (KHSB), will undertake a residential development with an estimated gross development value (GDV) of RM1 billion in Petaling Jaya, Selangor.

In a filing with Bursa Malaysia, Paramount said its wholly owned unit Aneka Sepakat Sdn Bhd (ASSB) had inked a development rights agreement with KHSB for the proposed development on 9.66-acre land.

The proposed development will involve the construction of four blocks of high-rise residential buildings consisting of 1,600 units of residential properties, including 20% affordable units. It is expected to be completed within a period of 10 years commencing from 2018.

Aneka Sepakat will claim 84% of the development’s projected gross development value (GDV) of RM1bil, with 16% or RM160mil development rights value going to KHSB.

The gross development cost of the property is projected at RM835mil while profit is expected to be about RM165mil, both attributable entirely to Aneka Sepakat.

Paramount said the proposed development is line with its asset light strategy to enlarge its land bank at prime locations, particularly at strategic transit oriented development locations in the well-established Petaling Jaya city.

It will also provide the group with the opportunity to leverage on collaborations with landowners to scale up its property development activities to generate long-term sustainable income.

At a projected development cost of RM1 billion, Paramount said the expected profits to be derived from the development would be RM840 million. The development cost will be funded by a combination of internally generated funds and bank borrowings.

“With a projected GDV of RM1 billion, the proposed development will enable Paramount to further strengthen its current total GDV of RM8.6 billion,” it said.
Eddy924
post Dec 23 2017, 06:31 PM

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Looking forward to their affordable unit. But is that under rumah selangorku?
Babizz
post Dec 23 2017, 11:00 PM

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would this be cheaper than at h20 given the high density?? This area has less new supply and also very close walking distance to existing successful lrt route. rental demand should be solid here.

This post has been edited by Babizz: Dec 25 2017, 04:46 PM
nexona88
post Dec 25 2017, 02:41 PM

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Seems good location..
Expected BBB since its near LRT station..

This post has been edited by nexona88: Dec 25 2017, 02:42 PM
BEANCOUNTER
post Dec 25 2017, 10:15 PM

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Where is the exact location? Thanks.
PTX
post Dec 28 2017, 12:19 AM

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Wish to know more info too. Thanks
Babizz
post Dec 28 2017, 12:32 AM

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land is marked on wikimapia. go search.
empatTan
post Dec 28 2017, 12:51 AM

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Solid location. Investable. See d price. Many opis workers around.
aaron1717
post Dec 28 2017, 09:13 AM

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would paramount give a good pricing considering the good location? nowadays future pricing factored in for new projects bukan main sikit only...
A.B.D.
post Dec 28 2017, 10:02 AM

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5 mins walk to asia jaya lrt station

http://wikimapia.org/#lang=en&lat=3.103144...634918&z=18&m=b
Eddy924
post Jan 1 2018, 08:47 PM

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Any idea when this project will pre-launch on market?
brianlee4ever
post Jan 1 2018, 10:22 PM

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Nice location. BBB
jacky12288
post Jan 3 2018, 05:31 PM

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Anybody know the rental of the area?
empatTan
post Jan 3 2018, 06:33 PM

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Cons is d area is industrial feel... If they can connect up d roads to Fed highway, jln 223, then it's good...
tikusniaga
post Jan 4 2018, 04:51 AM

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QUOTE(aaron1717 @ Dec 28 2017, 09:13 AM)
would paramount give a good pricing considering the good location? nowadays future pricing factored in for new projects bukan main sikit only...
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Paramount will factor in the value of good location, it will not be cheap.
Truesmartinvestor
post Jan 4 2018, 06:56 AM

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Is there high tension cable around the area?
Eddy924
post Jun 14 2018, 08:35 AM

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Any update for this project?
Afterburner1.0
post Jun 27 2018, 05:02 PM

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any updates to date? At Water once done.... i think will launch this...
Eddy924
post Jun 28 2018, 11:20 AM

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Guess their affordable unit will not be under rumawip since its Selangor address.

But for rumah selangorku, i guess might not be much likely since the location is so prime. Maybe Paramount will set their own benchmark in term of affordable price?

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