Dijaya Corp acquires Johor land; expected to generate RM3.8b GDV

KUALA LUMPUR: Dijaya Corportion Bhd bought two land parcels from Danga Bay Sdn Bhd in Johor that is expected to generate a gross development value (GDV) of RM3.8 billion, the Group said on on Monday, Aug 2.

“This is a stepping stone for the Group to kick start its first property development in the southern region,” it said.

The two freehold land parcels, which measure 31.3 acres and 6 acres, was acquired for RM258.8 million and RM49.7 million respectively.

Dijaya Corp, through its wholly owned subsidiary Nagasari Cerdas Sdn Bhd acquired the land via a joint-venture agreement with Global Corporate Development Sdn Bhd to form a joint-venture company, Goldhill Quests Sdn Bhd, which will develop the land.