Dijaya sees record RM765m property sales

The optimism is based on recent launches like Golf Villas in Tropicana, Phase One of its RM3.8 billion Tropicana Danga Bay development in Iskandar Malaysia, and the RM1.8 billion Tropicana Gardens in Kota Damansara, Selangor.

PETALING JAYA: Dijaya Corp Bhd, well-known for the Tropicana Golf & Country Resort and award-winning clubhouse in Petaling Jaya, is upbeat on achieving record-breaking sales of RM765 million in the current year.

The optimism is based on recent launches like Golf Villas in Tropicana, as well as Phase One of its RM3.8 billion Tropicana Danga Bay development in Iskandar Malaysia, Johor and the RM1.8 billion Tropicana Gardens in Kota Damansara, Selangor.

Despite global uncertainties and stricter rulings by Bank Negara Malaysia on loan approvals, the company recorded positive sales.

When the Main Market-listed developer launched Phase One of Tropicana Gardens on October 12, it achieved 100 per cent sales within 48 hours.

Phase One, called Arnica Residence, comprises a block of serviced apartments with 400 units.

The units range from the 597 sq ft studio to the 2,700 sq ft penthouse, worth RM230 million collectively.

"Tropicana Gardens is purposefully designed to draw on the strengths of the location while offering residents the hallmark of our Tropicana brand of properties.

"In light of the encouraging response shown, we will launch Phase 2 of the serviced residence soon," Dijaya deputy managing director Dickson Tan said.

The 7.05-hectare Tropicana Gardens is a vibrant urban hub that offers a diverse component of serviced residences, mall, cinema, hotel, offices and SOHO.

It is situated at Persiaran Surian and easily accessible via North Klang Valley Expressway, Lebuhraya Damansara Puchong, Sprint Highway and Penchala Link.

For 2013, Dijaya is aiming to launch projects worth a combined RM2.3 billion. They include Tropicana Metropark in Subang, W Residence in Kuala Lumpur, Tropicana Cheras, Tropicana Landmark in Kota Kinabalu, Sabah, and its projects in Johor and Penang.

In Johor Baru, Dijaya is expecting strong sales from its Tropicana Danga Bay development, and the RM2.9 billion Tropicana Danga Cove.

Elsewhere in Penang, Dijaya has a joint venture development with Ivory Properties Group Bhd to develop Penang World City, which is estimated to rake in a GDV of RM9.8 billion.

"The projects will launch in several phases, taking more than five years to complete. This means Dijaya is on solid grounds for its targeted sales to exceed RM765 million," said several analysts when contacted.

By Business Times