Paramount Property announced the conversion of its fully sold Sinaran Residences residential development and Sinaran Avenue commercial development at Utropolis Batu Kawan, Penang, from leasehold to freehold tenure. This reinforces its commitment to delivering long-term value to homeowners and property customers while enhancing the overall appeal of the integrated development.
The conversion, which received the necessary regulatory approvals from the state government, was undertaken with the participation of homeowners who opted to proceed with the tenure upgrade. Following the conversion of the development’s land tenure, freehold strata titles have been issued by the state government to 964 purchasers of Sinaran Residences and 16 purchasers of Sinaran Avenue. This milestone reflects Paramount Property’s commitment to enhancing value for property owners as it continues to expand its footprint in Penang.
Paramount Property facilitated the execution of the Memorandum of Transfer and other relevant documents as part of the Perfection of Transfer process for individual freehold strata titles over two weekends, on 20-21 March and 28-29 March 2026. To commemorate the occasion, it hosted a strata title signing event on 28 March at the Utropolis Sales Gallery in Batu Kawan, where 322 purchasers attended.
Paramount Property Northern Region Chief Executive Officer, Wang Chong Hwa, said, “While the development has been fully sold, our commitment to the community does not end there. We took the lead in coordinating this land-tenure conversion, working closely with homeowners and the relevant authorities to facilitate the process and support residents in enhancing the long-term value and ownership security of their properties.”
He added, “This move strengthens ownership certainty by eliminating lease expiry concerns and reinforces the overall quality and long-term market appeal of the properties. As The People’s Developer, we remain committed to creating lasting value for our customers, even beyond project completion.”
The tenure upgrade is expected to further strengthen the developments’ positioning within this high-growth area.
Strategically located within the fast-growing Batu Kawan corridor, Sinaran Residences and Sinaran Avenue benefit from proximity to key infrastructure and economic drivers, including the Batu Kawan Industrial Park and the Penang Second Bridge. The developments are also close to amenities such as UOW Malaysia KDU Penang University College, Design Village Outlet Mall and the Bandar Cassia commercial hub.
Sinaran Residences is the third residential phase of the 33.8-acre Utropolis Batu Kawan integrated development, Penang’s first ‘university metropolis’. It comprises 964 serviced apartment units across two towers, complemented by 16 retail units at Sinaran Avenue. Sinaran Avenue has seen encouraging take-up, with growing mix of F&B and retail offerings that contribute to an increasingly vibrant environment for residents and the surrounding community.
As Paramount continues to grow its presence in key development corridors, it remains focused on delivering thoughtfully designed developments and supporting sustainable communities that create enduring value for homeowners.
