Nanyang Siang Pau, 16 August 2011 - Two New Development Projects Worth RM6.6 billion; Dijaya to Develop Plentong’s Property Market

Nanyang Siang Pau, 16 August 2011

Dijaya Corp (Dijaya Corporation Bhd) bought a plot of 227-acre land (next to Senibong Cove) for its property development. The development will be a joint-venture project between Iskandar Waterfront Sdn Bhd (IWSB) and Dijaya Corp’s wholly owned subsidiary company.

This project will be launched in the southern region of Johor and it is Dijaya Corp’s second property development strategy.

The plot of land was acquired by Magical Heights Sdn Bhd and Trident World Sdn Bhd, which is a joint-venture development project. Magical Heights is a joint venture between Dijaya Corp’s wholly owned subsidiary Accroway Sdn Bhd and Iskandar Waterfront Sdn Bhd

(IWSB), both sharing a 50% joint-venture.

Johor Menteri Besar Dato’ Abdul Ghani Othman, who witnessed the signing of the joint-venture agreement ceremony, pointed out that in August last, Dijaya Corp and Goldenhill Quest Sdn Bhd had joint-ventured to develop the RM3.8 billion Tropicana Danga Bay, and this

year it has another property development plan. This development plan will promote and bring in major contributions to this special region of Iskandar in Malaysia.

SPECIAL REGION TO ATTRACT FOREIGN INVESTORS

He said that the development of this special region will continue to attract many foreign investors and also local companies. With Dijaya Corp’s two sizeable property developments costing a total of RM6.6 billion, investors’ confidence on Iskandar Malaysia will definitely be on the rise.

The Menteri Besar also said that there are many other massive developments to be completed soon in this special region, one of these will be the beautiful Kulai’s international branded products city. It is expected to be completed in November this year, and once it is ready,

it will expect to attract as many as four to five million visitors to this place.

In the past, great efforts have been made to attract overseas investors to this special region, but over the last two years, there have been many prospective local companies interested to invest in this major property development.

Abdul Ghani (second from left) witnessing the exchange of documents with Johar Salim Yahaya (left) and Tan Sri Dato’ Danny Tan Chee Sing and Datuk Lim Kang Hoo (second from right).