KUALA LUMPUR: Paramount Corporation Bhd
is targeting property sales of RM1.2 billion this year, underpinned by new launches, active land replenishment and a strategy to strengthen profitability over the longer term.
Group chief executive officer and executive director Jeffrey Chew Sun Teong said the group is targeting yearly launches of between RM1.0 billion and RM1.5 billion, supported by projects in Kuala Lumpur, Petaling Jaya, Penang and Kedah.
"We are still focusing on property development, especially residential,” he told a media briefing today.
Chew said Paramount is maintaining a 70:30 ratio between high-rise and landed developments, in line with market demand and the group’s existing development pipeline.
The group is also aiming to achieve a return on equity (ROE) of at least 10 per cent by 2030, compared with 8.3 per cent in the financial year 2025.
On landbank expansion, he said Paramount has undertaken active land replenishment since 2024, with the new landbank carrying a potential gross development value (GDV) of RM4.0 billion.
"The land replenishment will support our future launches and provide visibility for the group’s development pipeline over the medium term,” said Chew.
He said demand in the property market remains segmented, with upgraders turning more cautious while starter-home buyers continue to show resilience.
"People are doing the wait and see, especially the upgraders segment,” said Chew, adding that some buyers are delaying plans to move into bigger homes amid concerns over income stability, fuel supply and broader uncertainties.
"So why upgrade? Stay where I am first, don’t take extra. So the upgrader market is affected,” he said.
However, the starter homes segment remains supported by first-time homebuyers, renters and newly married couples who need to own a home.
"The other segment that’s not affected is the starter homes, the first home,” Chew said, even though he acknowledged that some buyers are concerned that raw material prices could rise further and make future homes more expensive.
"Over the long run, there will be people who still need to buy. Ultimately, they may rent for a while and then buy, or they will stay in their own house and wait for things to settle,” he added. - Bernama
