Property developer Dijaya Corp Bhd will acquire a boutique hotel from Multi-Purpose Holdings Bhd for approximately RM54 million.
The hotel, built on a 1,106 sq m freehold land in Kuala Lumpur, is strategically located near the China town and the Tung Shin Hospital, according to a report by The Business Times.
"The proposed acquisition will provide the group with stable, long-term and sustainable income stream," said Dijaya.
It added that with the property's prime location, "the propertywill be invaluable for the group to improve its profitability and thus shareholders' value."
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