The Ashbourne, U-Thant: Paramount's 458 Serviced Apartments on Freehold Land off Jalan Ampang
- 458Serviced apartments in two blocks
- RM1.1 billionGross development value, per Paramount
- 3.7 acresFreehold land in the U-Thant enclave, off Jalan Ampang
The Edge Malaysia reported on 8 September 2026 that Paramount Corporation’s new launch in Kuala Lumpur’s U-Thant enclave is named The Ashbourne: 458 premium serviced apartments, targeted for launch in November 2026. Paramount’s own announcement sets out the rest. The project stands in two blocks on a 3.7-acre freehold site off Jalan Ampang, bought from IOI Properties for RM257.9 million in March 2026, with a gross development value of about RM1.1 billion and completion about six years from launch. Prices, unit sizes and the unit mix will be released at launch.
The Ashbourne in brief
| Name | The Ashbourne |
| Developer | Paramount Corporation Bhd, through its wholly owned Meridian Kuasa Sdn Bhd |
| Location | Off Jalan Ampang, U-Thant enclave, Kuala Lumpur |
| Land | 3.7 acres, freehold, bought from IOI Properties Bhd for RM257.9 million |
| Product | Premium serviced apartments in two blocks |
| Units | 458 |
| Gross development value | About RM1.1 billion |
| Launch | Targeted for November 2026 |
| Completion | About six years from launch |
| Rail | Persiaran KLCC MRT and Ampang Park LRT and MRT stations nearby |
| Prices and layouts | Released at launch |
Why The Ashbourne is drawing attention
A freehold site on Embassy Row
U-Thant is one of Kuala Lumpur’s most established international addresses, home to many embassies and ambassadors’ residences, with leafy streets and large plots. New freehold land here rarely comes to market. Paramount’s site is a vacant 3.7-acre parcel surrounded by established homes and offices, a few minutes from KLCC.
Rail on both sides
Paramount places the site within walking distance of Persiaran KLCC on the MRT Putrajaya Line and the Ampang Park interchange, where the MRT meets the LRT Kelana Jaya Line. That is closer to rail than most of the enclave: our Residensi R8 guide puts that building about 1.3 km from Ampang Park.
A ready development order
The vendor had already obtained the development order before the sale, which Paramount says gives the project a speed-to-market advantage. That is why the launch could follow the March 2026 land purchase within the same year.
A developer with a U-Thant track record
The Ashbourne is Paramount’s third project in the Jalan Ampang area, after The Ashwood and The Atrium, both of which Paramount describes as fully sold. The Ashwood is a 354-unit freehold condominium of three- and four-bedroom homes, 1,381 - 1,707 sq ft, with an indicative entry price of about RM1.82 million and completion due in 2028, according to EdgeProp.
A large project for the address
Most U-Thant towers are boutique buildings of a few dozen to a few hundred homes. With 458 units, The Ashbourne gives buyers a wider choice of stock, and its size makes it the lead launch in Paramount’s fourth-quarter programme. The Edge reports that Paramount is holding its RM1.2 billion sales target for 2026 partly on the strength of this launch.
What we know about the land
Meridian Kuasa Sdn Bhd, a wholly owned subsidiary of Paramount Corporation Bhd, signed the sale and purchase agreement with IOI Properties Bhd on 18 March 2026, and The Star reports that the purchase completed in the second quarter of 2026. The parcel is commercial land with freehold tenure, which is the usual title for serviced apartments in central Kuala Lumpur. In its April 2026 results coverage, EdgeProp described Paramount’s U-Thant landbank as two parcels totalling 4.5 acres with a combined projected GDV of RM1.1 billion; The Ashbourne is on the 3.7-acre parcel.
Prices: released at launch
Paramount has not yet released prices, unit sizes or the unit mix for The Ashbourne. These will be published at launch. Until then, the best guide is what nearby homes sell and ask for:
- U-Thant transacted level. PropertyGuru data puts Residensi R8 at about RM1,226 psf in 2025. This is the U-Thant figure on our Kuala Lumpur price radius.
- Average deal size. EdgeProp reports that the average transacted price of a non-landed home in the U-Thant area was RM3.3 million in 2024.
- Jalan Ampang. Pavilion Embassy listings averaged about RM1,290 psf in late 2025.
- KLCC. Aria Luxury Residence has a median transacted price of RM1,488 psf, and Le Nouvel KLCC about RM2,780 psf.
New launches in central Kuala Lumpur usually price above completed stock nearby, so expect The Ashbourne’s launch prices to be set against these figures rather than below them.
How it compares
| Project | Developer | Tenure | Status | Price benchmark |
|---|---|---|---|---|
| The Ashbourne | Paramount | Freehold land | Launching November 2026 | Released at launch |
| The Ashwood | Paramount | Freehold | Under construction, completion 2028; fully sold | Indicative from about RM1.82M, 1,381 - 1,707 sq ft |
| Residensi R8 | Revival Capital | Freehold | Completed 2023 | About RM1,226 psf transacted (2025) |
| Pavilion Embassy | Pavilion Group with Global Oriental | Freehold | Completed 2021 - 2022 | About RM1,290 psf average asking (late 2025) |
| Aria Luxury Residence | Hap Seng Land | Freehold | Completed 2019 | RM1,488 psf median transacted |
| Le Nouvel KLCC | Wing Tai Asia | Freehold | Completed 2017 | About RM2,780 psf median transacted |
For the other projects coming to market around the Twin Towers, see KLCC new launches in 2026.
What to weigh
- A long build. Completion is about six years from launch, which points to around 2032. Buyers are committing capital early, and rental income starts only after handover.
- Commercial title. Serviced apartments on commercial land usually pay commercial rates for utilities and quit rent, and maintenance fees are typically higher than for a residential condominium.
- Scale. 458 units in two blocks brings more neighbours, and more units competing for tenants and buyers at resale, than the boutique towers around it.
- Prices to come. Compare launch prices with the transacted figures above, including the U-Thant level of about RM1,226 psf, rather than with asking prices alone.
For foreign buyers, our guide to buying property in Malaysia covers minimum prices, financing and MM2H.
How The Ashbourne compares with TRX
The Ashbourne offers an embassy-row address with rail close by, delivered in about six years. Tun Razak Exchange is about a district that is already working: the city’s only MRT Line 1 and Line 2 interchange, a 10-acre rooftop park and about 30,000 people working on site, with completed homes renting today. For prices by area across the city, see our guide to luxury housing in Kuala Lumpur.
We are an independent agency and are not appointed by Paramount. This guide is based on Paramount’s announcements and published press coverage.
Frequently asked questions
What is The Ashbourne?
The Ashbourne is a Paramount Corporation development of 458 premium serviced apartments in two blocks, on a 3.7-acre freehold site in the U-Thant enclave off Jalan Ampang, Kuala Lumpur. Its gross development value is about RM1.1 billion.
Where is The Ashbourne?
Off Jalan Ampang in the U-Thant enclave, Kuala Lumpur’s embassy district, within walking distance of Persiaran KLCC MRT station and the Ampang Park LRT and MRT interchange, according to Paramount.
When does The Ashbourne launch?
Paramount is targeting a launch in November 2026, as the first of its fourth-quarter launches. Completion is planned for about six years from launch.
How much will The Ashbourne cost?
Prices, unit sizes and the unit mix will be released at launch. For context, nearby Residensi R8 transacted at about RM1,226 psf in 2025, and Pavilion Embassy listings averaged about RM1,290 psf in late 2025.
Is The Ashbourne freehold?
Yes. The 3.7-acre site Paramount bought from IOI Properties is freehold commercial land, the usual title for serviced apartments in central Kuala Lumpur.
Register for a private viewing
If you are comparing new launches in the city centre this year, we are arranging private previews of a new private residence launching in TRX in Q4 2026. Register for a private viewing to receive details first.
This article is general market information, not investment advice. Project details are from Paramount’s announcements and the press reports listed; prices and layouts will be released by the developer at launch.