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Wednesday, February 13, 2008

Dijaya plans Jenjarom project launch in 2009

PETALING JAYA: Dijaya Corp Bhd plans to launch the first phase of the RM270 million mixed development on its recently acquired land in Jenjarom, Kuala Langat, Selangor, by end-2009, its managing director Tong Kien Onn told theSun.

“We have yet to decide on the final components of the proposed development, but it will comprise mainly residential properties.

The composition will depend on market studies yet to be carried out,” he explained.

Earlier this week Dijaya Corp announced that its wholly owned subsidiary Nadi Jelita Sdn Bhd had entered into a sale and purchase agreement with Beta Fame Sdn Bhd to acquire four parcels of freehold agricultural land, measuring 93.418 acres in Jenjarom, Kuala Langat, for RM29.5 million.

Tong said the project, which has yet to be named, will be targeted at the upgrader market of the local population in Jenjarom, Banting and its immediate surroundings who are looking for quality products. The site is located within the commercial center of Jenjarom town and along the Klang/ Banting road, which has been seeing rapid development.

The land acquisition for the project, which is slated for completion within six years, is in line with the developer’s direction to increase its landbank for development and to generate long-term sustainable income.

Dijaya Corp is synonymous with the development of its flagship project, the Tropicana Golf & Country Resort and the Damansara Indah Resort Homes.

In the Tropicana Golf & Country Resort, the developer is expecting to launch the first phase of its Tropicana Grande golf-course-fronting condominiums by the third quarter of the year.

Tropicana Grande, one of the final offerings in the resort development in Petaling Jaya, is tagged at an estimated price of RM500 psf.

There will be 298 units with built-ups from 2,208 to 6,138 sq ft.

Tong with a scale model of the integrated development of Tropicana City

Meanwhile, construction on its nine-acre freehold development of Tropicana City located at the crossroads of the LDP and Sprint highways is progressing rapidly. The Tropicana Mall is expected to be completed by the third quarter of the year. More than 40% of its 440,000 sq ft of nett lettable area has been leased out.

The second component of the integrated development is the RM147 million Tropics Designer Suites, which already has a take-up rate of 75%. The 601 units are sized from 625 to 1,176 sq ft and priced between RM222,000 and RM506,000.

The suites, which sit on top of the shopping podium, are scheduled for completion by the third quarter of 2009. Construction work on the third offering — the 105,000 sq ft Signature Office Tower recently commenced. The developer intends to retain the tower for leasing.

By theSun (by Allison Lee)

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