KUALA LUMPUR: Paramount Property, the property development arm of Paramount Corporation Bhd
, has completed the main structural works for Seiras, the fifth residential phase of its Utropolis Batu Kawan integrated development in Penang.
In a statement, the company said the RM266mil gross development value (GDV) project comprises 411 residential units in a 43-storey tower.
Launched in 2025, Seiras is expected to be completed ahead of schedule in the fourth quarter of 2027.
Following the topping-out, construction will proceed with architectural and interior works, including communal facilities and the fitting out of fully furnished residential units.
Paramount Property northern region chief executive officer Wang Chong Hwa said the milestone marked further progress in the development of Utropolis Batu Kawan.
“It also reflects the continued progress of Utropolis Batu Kawan and our commitment to creating a well-connected community that evolves with the needs of the people who live, work and spend time here.”
Established in 2016, the 44.3-acre integrated development comprises residential, retail, office and education components, including the UOW Malaysia KDU Penang University College campus.
“We have seen Batu Kawan evolve considerably since we first established Utropolis Batu Kawan here a decade ago.
“We have grown alongside the area, progressively adding homes, commercial spaces and amenities that contribute to a more complete urban environment. Seiras marks the next chapter in that journey,” Wang added.
Seiras offers units measuring approximately 1,033 sq ft, with dual-key and triple-key configurations designed for multigenerational living, co-living and rental arrangements.
The company said the triple-key concept, which provides three separately accessible spaces within a single unit, is the first of its kind in a residential development in Penang.
The development also includes co-working spaces, shared kitchens, a gym, swimming pool and recreational facilities.
Utropolis Batu Kawan is located about one kilometre from the Sultan Abdul Halim Muadzam Shah Bridge, near retail, education and healthcare facilities.
