Sinar Harian, 16 August 2011 – TDC at Iskandar Malaysia

Sinar Harian, 16 August 2011

Dijaya Corp to develop commercial property on 92 hectares of land

NUSAJAYA- Property developer Dijaya Corporation Berhad (Dijaya) plans to develop a commercial property project named Tropicana Danga Cove (TDC) at Iskandar Malaysia with a Gross Development Value (GDV) of RM2.8 billion.

Dijaya MD said the development project which would be carried out on 92 hectares of land would comprise a mixture of residential buildings such as condominiums as well as commercial buildings and would be completed in eight years.

"We are committed to our investments in the highly strategic Iskandar Malaysia region, in line with our efforts to expand our business in the southern part of the Peninsula and in exploring new investment opportunities," he said after the signing of a Memorandum of Understanding and Sales and Purchase Agreement between Dijaya, Iskandar Waterfront Sdn Bhd (IWSB) and Trident World Sdn Bhd (Trident World) here yesterday.

The agreements were signed by Dijaya Group Chief Executive Officer, Tan Sri Dato' Danny Tan Chee Sing; Director of Trident World, Lim Keng Guan; and Chairman of IWSB, Johar Salim Yahya and witnessed by Menteri Besar, Datuk Abdul Ghani Othman.

Also present were Chairman of the Committee for Local Government, Housing, Public Works and Amenities, Datuk Ahmad Zahri Jamil, and IWSB Managing Director, Datuk Lim Kang Hoo, who is also the Chief Executive of Danga Bay Sdn Bhd.

The agreement marked Dijaya's purchase of 92 hectares of land worth RM220 million in Plentong in the Eastern Corridor of Iskandar Malaysia from Trident World.

The land was acquired by Magical Heights Sdn Bhd, a joint venture between Accroway Sdn Bhd, which is a subsidiary of Dijaya, and IWSB.

Dijaya had also undertaken the development of Tropicana Golf and Country Resort, Tropicana Indah Resort Home and Tropicana City in the Klang Valley.

It also acquired a 15-hectare parcel of land for the development of Tropicana Danga Bay, a property comprising hotels, offices, shop lots and shopping malls in Danga Bay with a GDV of RM3.8 billion.

Abdul Ghani shakes hands with Chee Sing, while observed by Johar Salim.