Paramount to build Paramount Utropolis with RM1.3 bil GDV

KUALA LUMPUR (Jan 8): Paramount Corporation Bhd has unveiled a masterplan to build Paramount Utropolis, a university metropolis, sprawled over 8.4 hectares (ha) in Glenmarie, Shah Alam, with a gross development value (GDV) of RM1.3 billion.

To be fully completed in seven years, the first phase would comprise the KDU University College campus, on which work had already begun.

"The first phase will be completed in the first quarter of 2015," said Executive Deputy Chairman Datuk Teo Chiang Quan.
Inspired by foreign universities such as Oxford, Cambridge and Melbourne, Teo said the KDU University College Campus would have the same essence so as to promote a learning neighbourhood and community.

"There will be open spaces, themed gardens and discussion cubes, along with nine fully equipped lecture halls that can house up to 250 students each.

"It will also have 60 classrooms, a 50,000 sq ft of space that can house a library and a 500-bed student village," he said.
The location of the metropolis university is strategic, giving the students an easy access and transportation links across the Klang Valley. On funding for the project development, Teo said the company would be using its own capital plus some bank borrowings.

Meanwhile, Managing Director Datuk Ricque Liew said the land on which the metropolis university is located forms part of the company's total landbank of 320ha.

"At this moment, Paramount is developing about seven to eight projects on the landbank. These projects will have a total gross development value of about RM8 billion," he said, adding that Paramount has a very bright future going forward.

All these projects are expected to be completed in 2020, he said. Among the projects locked in by the company are located in Kedah, the Klang Valley and Cyberjaya.- Bernama

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