By Farah Wahida:
Property developer Dijaya Corp Bhd eyes to launch a new RM6.8billion township in Canal City, Selangor, reported The Sun Daily.
In line with this, Dijaya’s unit Sapphire Index Sdn Bhd, yesterday entered into a deal with Permodalan Negeri Selangor Bhd (PNSB), to acquire 11 parcels or 1,172 acres of land for RM1.3 billion. The acquisition will likely be completed in Q3.
Datuk Dickson Tan, Group Managing Director at Dijaya, said that “with strong prospects for capital appreciation due to excellent accessibility, this project can potentially generate a GDV of up to RM20 billion when fully completed over its 15- to 20-year targeted development timeframe.”
To be funded by internal funds and bank borrowings, the acquisition and development will “serve to further strengthen Dijaya's presence in the three key growth regions of Malaysia, namely Johor, Greater Kuala Lumpur and Penang,” noted Tan.
The planned township will include landed homes, serviced apartments, condominiums, corporate office towers, shop offices, private hospitals, international schools and shopping malls.
Aside from that, there will also be continuous vehicular free bike trails and jogging paths, central linear parks and lakes, children's playgrounds, kindergartens, community clubhouses and sports centres.
“It will become a key destination for people seeking a wholesome and balanced lifestyle,” added Tan.
Meanwhile, Dijaya Group CEO Datuk Yau Kok Seng noted that the acquisition is significant “for the group as large tracts of land in the Klang Valley with immediate development potential are fast becoming scarce.”
“The land neighbours established townships including Putra Heights, Kota Kemuning and also the up and coming Bandar Rimbayu which caters to middle and upper class income earners.”
Property developer Dijaya Corp Bhd eyes to launch a new RM6.8billion township in Canal City, Selangor, reported The Sun Daily.
In line with this, Dijaya’s unit Sapphire Index Sdn Bhd, yesterday entered into a deal with Permodalan Negeri Selangor Bhd (PNSB), to acquire 11 parcels or 1,172 acres of land for RM1.3 billion. The acquisition will likely be completed in Q3.
Datuk Dickson Tan, Group Managing Director at Dijaya, said that “with strong prospects for capital appreciation due to excellent accessibility, this project can potentially generate a GDV of up to RM20 billion when fully completed over its 15- to 20-year targeted development timeframe.”
To be funded by internal funds and bank borrowings, the acquisition and development will “serve to further strengthen Dijaya's presence in the three key growth regions of Malaysia, namely Johor, Greater Kuala Lumpur and Penang,” noted Tan.
The planned township will include landed homes, serviced apartments, condominiums, corporate office towers, shop offices, private hospitals, international schools and shopping malls.
Aside from that, there will also be continuous vehicular free bike trails and jogging paths, central linear parks and lakes, children's playgrounds, kindergartens, community clubhouses and sports centres.
“It will become a key destination for people seeking a wholesome and balanced lifestyle,” added Tan.
Meanwhile, Dijaya Group CEO Datuk Yau Kok Seng noted that the acquisition is significant “for the group as large tracts of land in the Klang Valley with immediate development potential are fast becoming scarce.”
“The land neighbours established townships including Putra Heights, Kota Kemuning and also the up and coming Bandar Rimbayu which caters to middle and upper class income earners.”
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