China Press, 6 September 2011 - Dijaya Acquired Land for RM230 Million for Mixed Development with Gross Development Value of RM2 billion

China Press, 6 September 2011

Dijaya Corp Bhd (DIJACOR, 5401, main property stock) has acquired five parcels of land for RM230 million for its mix development with an expected gross development value of RM2 billion.

When filing with Bursa Malaysia, Dijaya said that the company has entered an agreement with Taiyo Resort (KL) Bhd to acquire five parcels of freehold land in Ulu Langat, Selangor, measuring approximately 198.5 acres.

In another statement, Dijaya said that it will transform the land into a mixed development consisting of landed houses, condominiums, apartments and shop offices and this will be known as Tropicana Kajang.

Dijaya hopes that the development to transform the land into a mixed development of residential and commercial properties will be another future revenue generator for the group.

Group Chief Executive Officer Tan Sri Dato' Danny Tan Chee Sing said the group was continuously acquiring sizeable land-banks with good development potential in strategic locations.

"The land deal provides an opportunity for the group to introduce more development in Kajang of quality and prestige synonymous with our Tropicana brand," he said