Paramount acquires 21.7 acres land in Selangor for RM62.4 million
College, condominiums and commercial developments planned Nov 04, 2009
Paramount Corporation Berhad has entered into a conditional sale agreement with The Titular Superior of the Brothers of Saint Gabriel to acquire 21.7 acres of freehold land in Selangor for a total sum of RM62.4 million or RM66 per sq ft.
The property group has plans to develop 10 acres of the land to build a new campus for KDU College while the remaining 11.79 acres for commercial development and condominiums. According to the group’s statement released on Bursa Malaysia, the total development cost as well as the expected commencement and completion dates has not been determined pending finalisation and approval of detailed layout plan.
