Utusan Malaysia, 11 October 2011 - Dijaya Purchases Three Parcels of Land

Utusan Malaysia, 11 October 2011

PETALING JAYA, 10 OCTOBER: Developer Dijaya Corp Bhd has bought three parcels of freehold land the size of 0.4 hectares at Jalan Sultan Ismail, Kuala Lumpur, for the price of RM65.25 million.

The purchase was made through its subsidiary Ace Rhythm Sdn Bhd that will undertake to develop the mixed development comprising of serviced apartments and commercial lots.

With this initiative, Ace Rhythm is expected to generate a Gross Development Value of RM650 million from the development projects contributing towards Dijaya Group’s future earnings and financial performance.

Group Chief Executive Officer Tan Sri Dato’ Danny Tan Chee Sing said that they are planning to build W Kuala Lumpur, a hotel and residential project that will help to expand and strengthen Dijaya’s development portfolio in Kuala Lumpur.

"This is the Group’s opportunity to introduce the Tropicana brand and the development is expected to attract local and foreign investors," he said.