Dijaya banking on Iskandar’s attraction

03 August 2010 , By The Star

It’s confident RM3.8bil Danga Bay project in southern corridor will do well

Dijaya Corp Bhd is banking on the long-term sustainable development of Iskandar Malaysia as the main attraction for its Danga Bay project here.

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

“The time is right for us to come to Iskandar in view of the good progress in the economic growth corridor since its launch,” he said at a press conference at the signing of the sales and purchase agreements for two parcels of land, totalling about 14.97ha in Danga Bay, for RM308mil.

The land is being 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.

Tan said Goldhill Quest would develop the project, which has a total gross development value of RM3.8bil, over the next 12 years.

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

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

Meanwhile, Johor Mentri Besar Datuk Abdul Ghani Othman said demand for high-end properties in Iskandar was on the upward trend and Singaporeans would be the major buyers for these properties.

He also said Khazanah Nasional Bhd and Temasek Holdings Ltd’s proposed joint-venture iconic wellness township project in Danga Bay augured well for Iskandar.