The moment has come for Tropicana Corporation, a property developer listed on Bursa Malaysia, to increase the scope of its operations in Tembusu Grand. A “premium landbank” of 800 acres with a GDV of RM43 billion ($12.3 billion) is what it plans to unleash.
Tembusu Grand Price is familiar with Tropicana. The Tembusu Grand Floor Plan set up shop in the state in 2010 with the 37-acre mixed-use Tropicana Danga Bay, a joint venture with Iskandar Waterfront. A second deal to build the 227-acre Tropicana Danga Cove mixed-use complex was struck the following year by the same joint venture partners. The landed homes, businesses, and offices in these complexes were fully occupied by Tropicana in the years that followed.
As things are looking up in Johor, the developer plans to capitalize on it. Among Malaysia’s states, Johor attracted the most FDI in 2022, totaling RM70.6 billion. It was reported in July that the Malaysian government was soliciting ideas from private corporations in an effort to revive the Kuala Lumpur-Singapore high-speed rail scheme.
The Johor Bahru-Singapore Rapid Transit System (RTS) connection, which is expected to be finished by the end of 2026 or early 2027, would connect Singapore’s Woodlands North station with Johor Bahru’s Bukit Chagar station. This will be a landmark project.
According to Tropicana Southern Region managing director Karen Lee, these new projects are likely to make Johor a desirable investment and commercial destination, particularly with the SFZ and SEZ.
Tropicana is enthusiastic about the Johor property prospects since the state is becoming a top-tier investment destination in Malaysia, Lee says.
Two townships valued at RM23 billion have been designated for development by Tropicana. Lido Waterfront Boulevard and Tropicana Danga Bay are the two townships that are merged.
The Tropicana Danga Bay is planned to be a thriving community center with serviced apartments and retail sites, situated less than 10km from Lido Waterfront.
Featuring 245 contemporary serviced units ranging in size from 531 to 892 sq ft, the 26-story Bora units Tower B at Tropicana Danga Bay is about to go up. Each of the six retail business lots is 353 to 672 square feet in size. Launched in the first quarter of 2024.
The Malaysian terminal of the RTS Link is within a five- to ten-minute drive of both townships, notes Tropicana’s Lee. Accordingly, she explains, the projects will reap the rewards when the RTS is finished in three years.
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