Tropicana Corp Bhd is keen to explore opportunities with landowners who are looking to unlock their landbank in a strategic move to push forward and expand the group's foothold across Malaysia.
Its founder and group executive vice-chairman Tan Sri Danny Tan Chee Sing said Tropicana is also looking for partners to help develop its landbank.
"To boost our business resilience and scale up our expansion plan, we invite landowners to join us, leverage on our expertise and unlock their landbank or we welcome corporations to partner with us to jointly develop our strategic landbank," he said.
Tan said Tropicana is the proud owner of over 858 hectares (ha) of strategic landbank worth over RM77 billion in gross development value (GDV) across Malaysia, namely in Klang Valley, Genting Highlands, Langkawi, and Johor.
"For 25 years, we have witnessed and celebrated many milestones and achievements with our valued partners. Together, we have successfully developed luxurious residences, commercial lots, mixed townships, shopping malls, five-star hotels, and international schools.
"We are humbled and very grateful for their confidence, trust, and support in us. Backed by my capable management team and committed workforce, I believe we are ready to take a big step forward and welcome more partners to join our Tropicana Smart Partnership Programme," he said in a statement.
Established in 1979, Tropicana has become a household name that is synonymous with community builders and value investments.
In 1992, Tropicana introduced the first resort-themed development, Tropicana Golf & Country Resort in Petaling Jaya and since then, it has completed many successful projects across Malaysia and unlocked more than 612.2ha of landbank.
The developer has had the privilege to partner with 11 reputable corporations over 25 years.
The Tropicana Smart Partnership Programme began in 1996 when the developer entered into a strategic partnership with Selangor State Development Corporation (PKNS) to develop a 165.3ha township at Tropicana Indah Resort Homes.
In 2010, the group partnered with Iskandar Waterfront Sdn Bhd to build a 15.1ha mixed development known as Tropicana Danga Bay in Johor.
Tropicana was then invited to form alliances with other reputable local and international firms such as Ivory Properties Group, Marriott International, HK-listed Agile Property Holdings Ltd, GEMS Education, MBI Incorporated, Tenby Schools, and Temokin Development Sdn Bhd.
To date, the group has joined forces with 11 corporations, completed over 45 successful joint venture projects ranging from integrated mixed developments, townships, luxurious residences, international schools, shopping malls, and world-class hotels with a total GDV of over RM13 billion over the course of 25 years.
Tropicana and Temokin Development launched Tropicana Miyu in September 2020.
Temokin Development director Jeremiah Tan Chien Yih said the project was launched amidst the challenging market environment.
He said the two firms were encouraged by the response and to-date the project has recorded over 95 per cent take-up.
"The Tropicana and Temokin brand name plus its ability to launch the right product at the right location is a testament to the strength of its joint venture partnership complemented by the wealth of expertise in the industry," he said.
PKNS chief executive officer Siti Zubaidah Abd Jabar said both the firm and the developer launched Tropicana Gardens and the first residential block, Arnica Residences was sold out in two days.
"The rest of the three residential towers followed suit and sold out, too. Tropicana Gardens Mall, the largest neighbourhood mall in its region has achieved 68 per cent take-up with 50 per cent of tenants open for trade as of today," she said.
Source: NST.com.myPrev. Article Next Article