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Monday, August 16, 2010

Dijaya banks on Iskandar factor

JOHOR BARU: Dijaya Corp Bhd is banking on the long term development of Iskandar Malaysia as the main draw in attracting interest to its Danga Bay project here.

Group chief executive officer Tan Sri Danny Tan Chee Sing said apart from the project’s location on prime waterfront land, Johor’s proximity to Singapore would be another selling point.

“The timing is right for us to come to Iskandar in view of the good progress taking place in the economic growth corridor since its launch,’’ he said on Aug 10 at the signing of a sale and purchase agreement for two parcels of land totalling almost 15 ha in Danga Bay worth RM308mil.

The plots of land were acquired by Goldhill Quest Sdn Bhd - a 60:40 joint venture between Nagasari Cerdas Sdn Bhd (a wholly-owned subsidiary of Dijaya Corp) and Global Corporate Development Sdn Bhd, which is 100% owned by Iskandar Waterfront Sdn Bhd (IWSB).

Tan represented Dijaya at the event while IWSB was represented by its chairman Johar Salim Yahaya.

The signing ceremony was witnessed by Johor Mentri Besar Datuk Abdul Ghani Othman.

The joint venture company will develop the land which has a gross development value of RM3.8bil over the next 12 years.

Tan said the components of the integrated waterfront development project would include a stand-alone retail mall, four and five-star hotel towers and serviced apartments blocks.

“The project is likely to be known as Tropicana @ Danga Bay, after our flagship Tropicana Golf and Country Resort in Petaling Jaya,’’ he said.

By The Star

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