THE Penang government has extended the 5% discount under the Madani Ownership Campaign until next year.
Chief Minister Chow Kon Yeow said this initiative aims to make homeownership more attainable, reduce property overhang, and boost the overall real estate sector.
“This initiative is limited to participating developers who are registered with the Penang State Housing Board (LPNPP).
“The properties eligible for this discount must be confirmed as unsold completed units, with data verified and obtained through the National Property Information Centre (NAPIC).
“We hope this move will encourage more take-up of ready-built properties, benefit genuine homebuyers, and also help reduce the property glut in Penang,” Chow said in his speech during the official launch of Paramount Embun Hills at its sales gallery at Icon City in Bukit Mertajam today.
He also stated that there were 2,796 overhang units of various housing categories in Penang.
Speaking about the programme, Chow said the launch of Paramount Embun Hills is a significant milestone not only for Paramount Property but also for the continuing growth of Bukit Mertajam and Seberang Perai as a whole.
“This launch comes at a timely juncture. With a population of about one million, Seberang Perai plays a vital role in Penang’s ambition for balanced, inclusive development.
“Under the Penang2030 vision, we are working to create a state that is family-focused, green and smart, where infrastructure, housing, and public services grow hand in hand with community needs.
“It is within this broader context that Paramount Embun Hills finds its place, not just as a housing project, but as part of a greater vision for a well-planned, liveable Penang,” said Chow.
Paramount Embun Hills is strategically located along Jalan Kulim at the foothills of Bukit Mertajam, a pristine rainforest reserve.
Featuring 566 residential units and 30 commercial shop offices, Embun Hills is envisioned as a modern, sustainable, and community-oriented development that responds to the evolving needs of today’s families.
This development sets a new benchmark for sustainable township development in the northern peninsula, with infrastructure meticulously planned to utilise solar energy, manage waste responsibly as well as conserve water and biodiversity.
Paramount Corporation Berhad Group chief executive officer and executive director Jeffrey Chew Sun Teong said the company’s progression of projects in Penang over the past decade reflects its strong confidence in this dynamic and high-potential region.
“Leveraging our expertise in township planning, we aim to meet the evolving needs of the community while contributing to the growth of the local economy.
“With Paramount Embun Hills, we envision a township where families choose to build their future and where businesses can flourish,” he said.
It is learnt that Paramount Embun Hills will be developed over four years, with a gross development value (GDV) of RM460 million, with unit prices ranging from RM800,000 to RM900,000.
Also present during the ceremony today were Bukit Tambun assemblyman Goh Choon Aik, Paramount Property chief executive officer Chee Siew Pin and Paramount Property Northern Region chief executive officer Wang Chong Hwa.
On a separate matter, Chow also announced that the groundbreaking ceremony of the highly anticipated Juru-Sungai Dua Elevated Highway project is set for November this year.
Story by Riadz Akmal
Pix by Siew Chia En
Video by Noor Siti Nabilah Noorazis