Sustained demand for high-rise residential properties in Petaling Jaya is supporting the next phase of Paramount Corp Bhd’s Lumeo @ The Atera development, following the full take-up of its first residential tower launched in 2023.
Speaking during the recent Petaling Jaya property review and outlook event organised by EdgeProp together with Paramount Corp, senior sales executive Kenji Choo said the strong response to the project has prompted the rollout of its second tower.
According to Choo, the development is designed around a modern urban living concept that combines accessibility, greenery, convenience and contemporary design to meet the evolving preferences of urban homebuyers.
He noted that location continues to be one of the project’s key selling points, as buyers increasingly prioritise connectivity and liveability when selecting homes for own stay rather than purely for investment purposes.
Lumeo @ The Atera enjoys direct access to major highways including the Federal Highway, LDP, SPRINT Expressway, NKVE and New Pantai Expressway. The project also benefits from transit-oriented development (TOD) appeal through a covered walkway located approximately 400 metres from the Asia Jaya LRT station, providing direct connectivity to key destinations such as Bangsar, KL Sentral and Kuala Lumpur City Centre.
The development spans approximately 9.66 acres and comprises three serviced apartment towers under a single masterplan. The first tower consists of 676 units, while the second tower will feature 788 units across 52 storeys. A third tower is expected to be launched by end-2026 or early 2027.
Unit sizes range from 775 sq ft to 1,420 sq ft, catering to different household needs and buyer profiles. The development also incorporates smart home technology, allowing residents to manage lighting, fans and air-conditioning systems via mobile applications.
In addition, the project includes green building features aimed at improving sustainability and lowering long-term maintenance costs. A dual-access road system is also planned to enhance traffic flow and accessibility within the development area.
During the event, Jacqueline Lim highlighted Petaling Jaya’s dominance in Selangor’s high-rise residential market. She revealed that the city accounted for 49.9% of Selangor’s high-rise transaction volume and 56.8% of transaction value in 2025, making it the leading district for high-rise property activity in the state.
Lim noted that properties priced between RM500,000 and RM900,000 remain the most actively transacted category, particularly among working professionals seeking relatively affordable homes within mature urban areas.
She also explained that Petaling Jaya’s transformation from a satellite town established in 1952 into a mature urban centre has significantly boosted property values over the decades. Today, future growth in the city is expected to be driven largely by redevelopment and adaptive reuse projects due to limited remaining greenfield land.
Redevelopment initiatives in Sections 1, 13, 14 and 16, along with lifestyle-oriented adaptive reuse projects such as Pickle Park and Hyprground, are contributing to renewed interest in older precincts while attracting younger demographics and supporting rental demand.
Separately, Affin Bank Bhd highlighted its Affin Home Reno/-i financing package during the event. Senior sales consultant Chan Kein On said the facility offers up to 90% financing margin for completed residential properties, with an additional 30% financing available for renovation purposes.
The financing package covers homes valued from RM150,000 onwards, with financing tenure extending up to 35 years or until the borrower reaches 70 years old.
