DNR: Paramount will go for niche housing due to scarcity of land in the Klang Valley

Paramount Property Development Sdn Bhd, one of several property subsidiaries of Paramount Corp Bhd, will be repositioning itself from its focus on township development to niche housing going forward. Managing director Datuk Ricque Liew said this was due to the scarcity of land in the Klang Valley. The company has been incrementally replenishing its land bank since last year and, in the next four to five years, it is expected to have projects with a gross development value of between RM4bil and RM5bil. “We are looking into 50 to 60 acres or even down to five acres. 

"We have to move away from the traditional landed housing and go into integrated developments with commercial, residential and retail elements,” said Liew, adding that the firm had to take this step because the available land sizes were getting smaller today.