Monday, November 14, 2011

Dijaya, Ivory rise on RM10b Penang property venture

KUALA LUMPUR (Nov 14): DIJAYA CORPORATION BHD [] and Ivory PROPERTIES [] Group Bhd shares advanced on Monday, Nov 14 after the two companies signed a joint venture agreement to develop mixed residential and commercial properties in Penang with a gross development value of RM10 billion.

At 9.50am, Dijaya up seven sen to RM1.46 with 490,000 shares traded while Ivory gained 8 sen to RM1.08 with 4.32 million shares done.

In a joint statement Friday, Nov 11, the two companies said the development will be completed over the next eight years and would comprise of residential, shopping mall, hotel, office suites, office towers, retail spaces and an open mall with a boulevard.

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