Paramount forms joint venture with Mitsui Fudosan unit for Kuala Lumpur development

Bitget2026/11/04 04:34

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Paramount entered a joint venture with Mitsui Fudosan (Asia) Malaysia on November 4, 2026, to develop land in Kuala Lumpur.
Mitsui will acquire 49% of Meridian Kuasa for RM 23.06 million, leaving the seller with a 51% stake.
The venture will develop The Ashbourne, a serviced-apartment project with approximately 458 units and estimated gross development value of RM 1.34 billion.
Development is scheduled to begin in the fourth quarter of 2026, with completion expected in the fourth quarter of 2030.
The stake sale is expected to close by December 31, 2026, generating a pro forma gain of RM 43.87 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PCB - Paramount Corporation Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3721928) on November 04, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Paramount forms joint venture with Mitsui Fudosan unit for Kuala Lumpur development

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