Dijaya buys Selangor land for township project

KUALA LUMPUR (April 16, 2013): Sapphire Index Sdn Bhd, a wholly-owned subsidiary of Dijaya Corporation Bhd, has entered into a sale and purchase cum development agreement for 11 parcels of leasehold land in Selangor for a cash consideration of RM1.297 billion.

In its filing to Bursa yesterday, Dijaya said Sapphire's agreement was with Menteri Besar Selangor (Incorporated)and Permodalan Negeri Selangor Bhd for the 474.3 hectares (1,172 acres) land in an area previously known as "Canal City", in Kota Kemuning.

The proposed acquisition is in line with the Group’s strategy to acquire and continue to expand its existing landbank, which currently stands at about 323 hectares (800 acres).

Dijaya plans to develop a township in the area.- Bernama