Paramount Property to Build 350 Affordable Homes in Butterworth under State Scheme

Paramount Property is extending its Penang portfolio by teaming up with the state’s housing agency, LPNPP, to redevelop a 6.19-hectare parcel in Ujong Batu, Butterworth. The agreement, signed by its subsidiary Paramount Property (Butterworth) Sdn Bhd, outlines a phased approach, with the initial stage delivering 350 affordable units under the Rumah MutiaraKu scheme. This initiative adds Butterworth to the developer’s existing projects, which include the integrated Utropolis Batu Kawan township, the residential Paramount Embun Hills in Bukit Mertajam, and the Paramount Palmera Industrial Park in Bukit Minyak.

Group CEO Jeffrey Chew highlighted that the partnership aligns with the company’s goal of creating livable communities that respond to evolving resident needs. The redevelopment also supports Penang’s broader strategy to increase homeownership among local residents. Details on the overall development value, later phases and timeline remain undisclosed pending regulatory approvals.