Paramount previews 252 terraces at Cahaya SPK, Shah Alam

Paramount Corporation Bhd has opened Sejati by the Lake in Cahaya SPK, Shah Alam, for preview: 252 two-storey terraced houses on 19.32 acres of leasehold land, with an estimated gross development value (GDV) of RM236.6 million and indicative prices from RM850,300. The developer's factsheet of 22 September estimates completion in the fourth quarter of 2029.

The project

• Developer: Paramount subsidiary Prima Kuasa Sdn Bhd. A leasehold strata development, gated and guarded
• Homes: 196 intermediate, 34 end and 22 corner units, each with 1,885 sq ft of built-up area and four bedrooms, all en suite. Standard lots are 20 ft by 65 ft, with extra land for end and corner units
• Grounds: 4.3 acres of landscaping, green laneways behind the homes and a 2.5km jogging, walking and cycling route. An existing 16-acre public lake park is about 150m from the entrance
• Facilities: a community centre, kindergarten, surau, multipurpose court, playground, amphitheatre and pavilion, to be ready at handover
• Extras: an isolator point for an electric-vehicle charger and conduits for solar panels. The project is designed for GreenRE certification. Maintenance is about RM190 to RM380 a month, including a 10% sinking fund
• Access: Persiaran Mokhtar Dahari and Jalan Jingga, linking to the Damansara-Shah Alam Elevated Expressway (DASH) and the Guthrie Corridor Expressway
• Buyers: Paramount said its own market study found demand among families living within about 5 to 15 km, mainly first-time landed buyers and upgraders from apartments or older terraced houses

The numbers

Our sums from Paramount's figures:

• Density: 13.04 homes per acre of the whole site
• GDV per acre: about RM12.25 million, or about RM281 per sq ft of the site
• Average price: about RM938,900 a home, or about RM498 per sq ft of built-up area
• Saleable land: the 252 standard lots take 327,600 sq ft, about 39% of the site, before the extra land for end and corner units

The land

• Purchase: in December 2025 Prima Kuasa agreed to buy 48.49 acres of vacant leasehold land in Section U9, Shah Alam, for RM113.5 million, or RM53.74 psf. The seller was SJ Properties Sdn Bhd, a unit of Sharikat Permodalan Kebangsaan Bhd (SPK), the group behind Cahaya SPK. The purchase completed on 18 September 2026
• Terms: that land is for residential buildings, and the seller had already obtained development approvals. Its 99-year lease runs to 27 December 2108. Paramount put its GDV at about RM579 million over six years
• Not confirmed: Paramount has not said whether Sejati by the Lake sits on that land