PETALING JAYA: Paramount Corp Bhd has proposed to acquire a parcel of 32.7-acre freehold land with a lake view in Cyberjaya to grow its series of award-winning Sejati branded homes.

       In a statement, the property developer said its wholly owned subsidiary Utropolis Sdn Bhd has entered into a sale and purchase agreement with Makmur Asiamaju Sdn Bhd to acquire a piece of freehold residential land for a cash consideration of RM102.7mil.

       The new land is within a kilometre radius of Paramount’s Sejati Residences and Sejati Lakeside.

       It is a 35-minute drive from Kuala Lumpur city centre or 25 minutes from the KL International Airport, and only 10 minutes from Putrajaya via major highways.

       “We are building on the strong momentum of Sejati Lakeside as we target to launch its final phase comprising three-storey lakefront semi-detached homes in the fourth quarter of this year,” said Paramount deputy group CEO Benjamin Teo.