HOUSING developer Paramount Corp Bhd will begin developing the remaining RM549mil worth of landed property at Bandar Laguna Merbok, near Sungai Petani, Kedah, beginning next year.
The resort-themed development will be developed by wholly owned subsidiary, Paramount Property (Utara) Sdn Bhd, formerly known as Patani Jaya Sdn Bhd, on a 95.4ha.
Paramount Property (Utara) Sdn Bhd executive director Ricque Liew said a total of 1,444 units, including 1,181 double-storey terrace, 102 double-storey semi-detached, five bungalow and 156 double-storey shop units would be built in three phases by 2009.
The company had so far built 2,587 mixed development units worth RM451mil on a 101.8ha over six phases beginning December 1996 at Bandar Laguna Merbok, of which 92% had been sold, he said.
The whole township would eventually have a total of 3,823 residential units - 3,007 double-storey terrace units, 182 two-and-a-half-storey terrace units, 594 double-storey semi-detached units and 40 bungalows - and 208 commercial units - worth a total of RM1bil, he said in an interview in Sungai Petani.
Liew said the township was equipped with various amenities, including a club house with free membership worth RM4,000, jogging and cycling paths, reflexology paths, children's playground, a man-made lake and riverside jetty for fishing and picnic, all worth more than RM6mil. “The resort township is the first township to introduce the gated and guarded concept in Kedah, providing a quality of life comparable to the very best in the Klang Valley,” he added.
Liew said apart from Sungai Petani, the group had acquired a 210ha in Shah Alam, Selangor, and launched its first phase of Kemuning Utama project comprising double-storey terrace and double-storey semi-detached units in March this year, of which more than 700 units had been sold.
Besides the Sungai Petani and the newly launched Shah Alam housing projects, the company had to date completed 1,600 units of mixed development at Taman Patani Jaya in Sungai Petani on a 69.2ha and 212 units of medium-cost mixed development on a 9.2ha at Taman Sutera in Sungai Petani, all worth more than RM250mil.
Liew said years of commitment in developing Bandar Laguna Merbok based on the concept of Mediterranean-styled resort living had earned the company this year's prestigious FIABCI award of distinction for best residential development in the country.
FIABCI is a French acronym, which stands for International Real Estate Federation.
“Bandar Laguna Merbok is the first residential project outside the Klang Valley that has won the well-coveted FIABCI award so far.
“We have proven that we have achieved a standard of excellence in providing quality houses with innovative designs comparable to Kuala Lumpur standards,” Liew said.
He said the company had also sent Bandar Laguna Merbok entry to FIABCI headquarters in Paris, France, to compete for the World FIABCI Prix D' Excellence Award, adding that Subang Jaya, Suria, Sunway Lagoon and Petronas Twin Towers had in the past walked away with awards.