China Press - Tropicana corporation eyes on 1.2 billion property sales

Petaling Jaya, 30 May 2017 – Backed with new launches and affordable home projects, Tropicana Corp. Bhd. (TROP, 5401, main market, property) is targeting more than RM 1.2bil in property sales for this year.

Group Chief Executive Officer Datuk Yau Kok Seng said: “Due to the increased in property sales, the group hopes to break record sales of RM 1.2bil in 2016.”

For the first quarter ended March 31, 2017, Tropicana received unbilled sales of RM 2.3bil.

Datuk Yau Kok Seng stated that for this year the group is planning to launch RM 1.6bil of property projects, focusing on landed residential houses, shophouses and high-rise affordable homes.

“The affordable home is new for the group and targeting to launch 766 units this year in our existing township projects. The RM 1.6bil of property projects are mainly Klang Valley development, it also contain more than RM 300mil of development in Johor. “

He told reporters after the company’s shareholders meeting on today.

Besides, Tropicana has 1,283 acres of land with gross development value (GDV) of RM 50bil that 80% of the land is located around Klang Valley, whereas the balance 20% are in Johor.