Kosmo, 16 August 2011 – Dijaya invests in project worth RM2.8 billion

Kosmo, 16 August 2011

NUSAJAYA- Dijaya Corporation Bhd. (Dijaya) has boosted its investment in Iskandar Malaysia via its latest property and commercial development project named Tropicana Danga Cove in Plentong, Johor Bahru, which has a Gross Development Value (GDV) worth RM2.8 billion.

Dijaya Managing Director said the development would take place on a 92-hectare land overlooking the Senibong Cove in Johor Bahru.

"We decided to increase our investment in Iskandar Malaysia, particularly in Plentong due to its strategic location and proximity to the city and also Singapore," he said.

He was speaking to reporters after the signing ceremony of a Memorandum of Agreement (MOU) and Sales and Purchase Agreement between Dijaya Corp, Iskandar Waterfront and Danga Bay Sdn Bhd (Danga Bay) here yesterday.

Also present at the Ceremony was Johor Menteri Besar, Datuk Abdul Ghani Othman; Dijaya Group Executive Officer, Tan Sri Dato’ Danny Tan Chee Sing; Iskandar Waterfront Chairman, Johar Salim Yahya; Danga Bay Chief Executive, Datuk Lim Kang Hoo; and Dijaya Director, Norliza Suleiman.

With the signing of the agreements, Dijaya's total investments in Iskandar Malaysia has reached RM528 million.

Dijaya had previously invested in a property and commercial development with a GDV of RM3.8 billion known as Tropicana Danga Bay.

Meanwhile, Datuk Abdul Ghani said the investment showed that Iskandar Malaysia was still a prime choice among local investors.

"Based on the latest development, Iskandar Malaysia continues to be a major investment hub, and even in the midst of an uncertain world economy, we believe that economic growth here would exceed six percent this year," he said.

ABDUL GHANI (middle) observes the exchange of documents between Johar Salim (left) dan Danny Tan at Kota Iskandar, Nusajaya yesterday.