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

By Public Technologies
  • 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.

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