Nanyang Siang Pau, 8 October 2011 - Dijaya spent RM65.25 million purchasing land
Nanyang Siang Pau, 8 October 2011
(Petaling Jaya, October 7) DIJACOR Institution (DIJACOR, 5401, Main Board Industry Unit) announced that it would spend RM65.25 million on the acquisition of three pieces of land in Sultan Ismail Road, Kuala Lumpur, covering an area of one acre, through ACE Rhythm Private
Limited Company – a subsidiary company of Dijaya with 99.9% equity.
These three pieces of adjoining land will be used for building comprehensive apartments and commercial plaza in the future, with estimated total value worth RM650 million and will contribute to the Group’s future earnings.
The above freehold land is situated in the area near “a city inside a city”, close to high-end apartments and office buildings such as Pavilion Residence, Four Season Place, The Binjai and Regent Residence, and has a great development potentiality.
Dijaya recently announced that it would jointly promote W Hotel with Starwood Hotel. This purchase and W Hotel turned over a new leaf in the promotion of its industrial integration, especially in the downtown area.