PETALING JAYA: Dijaya Corp Bhd plans to launch products in at least two of its new mixed development projects in the Klang Valley this year.
One of the mixed developments is Tropicana Gardens located in its 400-acre (161.8ha) Tropicana Indah development in Petaling Jaya, managing director Datuk Tong Kien Onn said.
Tropicana Gardens has a gross development value (GDV) of RM1.8 billion and will take up 14 acres of a total land area of 17 acres. Tong said the remaining three acres will be left for future development.
The product components of Tropicana Gardens will include serviced apartments, hotel, office and retail.
The developer is looking at having the first launch in the third quarter, Tong said on the sidelines of the group’s annual luncheon yesterday, where a total of RM225,000 was donated to 15 charities by the Dijaya Tropicana Foundation. Dijaya group CEO Tan Sri Danny Tan made the presentations.
Scheduled for launch in the second half of the year is a project in USJ 3, Subang Jaya called Tropicana Hills. Located close to the Federal Highway, it will be a mixed development with a GDV of RM3.5 billion on 88 acres.
|From the Dijaya Tropicana Foundation board of trustees are Dickson Tan (4th from left), Diana Tan (5th from left), Puan Sri Ivy Tan (6th from left), Tan Sri Danny Tan (7th from left) and Datuk Tong Kien Onn (8th from left) with the representatives of 15 charities holding their mock cheques totalling RM225,000.|
Tong said the project will include a school, hospital, hotel, condominiums and serviced apartments.
“At the moment, we are in the process of converting the land status from industrial to commercial,” he said.
“It is flat land and there is discussion with the authorities to build a ramp from the Federal Highway to Tropicana Hills for better accessibility.”
Meanwhile, Dijaya is launching exclusive zero-lot bungalows in the Tropicana Indah development dubbed Golf Villas by early March.
“There are only 12 units of 3-storey zero-lot bungalows. The Golf Villas are situated within Tropicana Indah project in Petaling Jaya,” Tong said.
The villas have a GDV of RM64 million. Prices start from RM4.8 million with average built-ups of over 7,000 sq ft.
In the past 1½ years, the group has been aggressively acquiring land. Pre-2010, the group only had 142 acres in its landbank but post-2010, Dijaya acquired 668 acres in Peninsular Malaysia for a current total of 810 acres. The total GDV of its landbank now amounts to about RM28 billion.
One recent purchase was 198 acres in Kajang, which Dijaya bought for RM228 million last September. It has a GDV of RM2 billion and Tong said the group is currently looking into rezoning the land from recreation to mixed-commercial and residential. The project is still in the planning stages.
This article appeared on the Property page, The Edge Financial Daily, February 10, 2012.
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