Dijaya plans RM1.2b high-end projects by year-end
New Straits Times , 01 September 2010
Property developer Dijaya Corp Bhd aims to launch four new high-end projects worth RM1.2 billion before year-end as it is bullish on the market, its chief said.
Dijaya (5401) plans to launch its Casa Tropicana condominium and Tropicana Avenue office development at Tropicana Golf and Country Resort in Petaling Jaya, Selangor, within the next one month.
Casa Tropicana has 296 units worth RM138 million or more than RM400,000 each, ranging from 986 sq ft to 1,400 sq ft.
Tropicana Avenue, worth RM336 million, comprises 442 offices. Sizes start at 885 sq ft and each office is priced at RM400,000 onwards.
Dijaya managing director Datuk Tong Kien Onn said the two projects have received overwhelming enquiries from buyers including foreigners.
"We expect the projects to do well. There are discerning buyers who want to put their money into properties as an investment," Tong said in an interview with Business Times.
Tong said the company's recent launches namely, Grand Villas and Pool Villas at Tropicana Indah Resort Homes in Petaling Jaya enjoyed good sales.
In May, Dijaya launched Grande Villas, comprising 12 bungalows worth RM61 million. One third has been sold, with each unit being priced at RM5.5 million onwards.
A month later, it launched Pool Villas, which are 54 units of semi-detached homes worth RM194 million or from RM3.6 million each. A few units have been taken up.
Tong said by December it will launch Tropics @ Sg Long in Cheras, where it has 10.7ha of land.
He said the project will comprise semi-detached homes, zero lot and link houses worth over RM200 million.
Also in December, Dijaya will launch Phase One of Tropicana City@Danga Bay, its RM3.8 billion integrated waterfront flagship project in Johor.
Phase One will feature some 700 units of upper middle serviced apartments in three blocks, worth RM600 million or more than RM600 per sq ft each.