New Straits Times - Tropicana in Genting Highlands, Cenang Foray
TROPICANA Corp Bhd is developing resort-themed products at holiday destinations, starting with Genting Highlands and Langkawi.
Tropicana, which boasts projects with a total potential gross development value (GDV) of more than RM152 billion, owns 241.2ha in Genting Highlands and more than 50ha in Langkawi.
Managing director of marketing and sales Joanne Lee said the company had begun works on Tropicana Grandhill in Genting Highlands and Tropicana Cenang in Langkawi, marking its foray into the two popular holiday destinations.
Tropicana Grandhill and Tropicana Cenang come under the "Tropicana Journey Collection" of iconic selection of resort-style properties.
Unlocking its landbank at the right location and the right price point would ensure Tropicana's resilience, especially at a time when the economy was recovering from the Covid-19 pandemic, said Lee during a visit to the project sites recently.
The prices of the residential units for both projects range from RM400.000 to just over RM1.8 million.
The first phases of the two projects are expected to be completed by 2026.
Besides locals, the products will also be marketed across Southeast Asia, including Indonesia, Thailand, Singapore and Vietnam, as well as Middle East countries such as the United Arab Emirates, Qatar and Saudi Arabia.
It is also targeting buyers from China, Hong Kong, Taiwan, Japan, South Korea, Australia and India.
Lee said Langkawi and Genting Highlands were popular, well-developed holiday destinations with high tourist turnovers.
Genting Highlands, for example, received some 28.7 million visitors, or about 78,000 per day, in 2019, according to a study by the property developer.
Langkawi received nearly four million visitors in 2019, prior to the Covid-19 pandemic.
Tropicana Grandhill will be the first township development in Genting Highlands with contemplative master planning.
Its selling points include its status as a freehold development, being the nearest development in Genting Highlands from Kuala Lumpur, as well as its holistic and health-centric resort-style living at 3,000 feet above sea level.
When fully completed, Tropicana Grandhill will feature 880m of elevated roads, residences, retail, healthcare and wellness facilities, an international school, a senior living facility and a park.
Tropicana Grandhill, covering 45.32ha, will be developed in three phases, with Phase 1 featuring a serviced residence, the international school, retail facilities and wellness hub.
Phase 2 will have a recreational park, a serviced residence and the Silver Hair village for senior citizens, while plans for Phase 3 are being finalised.
Under Phase 1, Tropicana's first product for sale is the serviced apartment development known as TwinPines serviced suites, with a GDV of about RM1 billion.
Sitting on 1.45ha, the two-tower development comprises the 55-storey Tower A with 795 units and the 56-storey Tower B with 648 units.
Meanwhile, Tropicana Cenang will feature two blocks of serviced suites. The 39-storey Assana Serviced Suites will boast 831 units while the six-storey Merissa Serviced Suites will have only 60 units.
Tropicana has promised that each Assana serviced suite will have a view of the sea.
It will have retail shops and a luxury hotel in its second phase.
The company is confident that Tropicana Cenang would sell itself based on the fact that it is sited next to the beach.
Tropicana Cenang is strategically located near the Underwater World tourist attraction as well as well as duty-free shops and a diverse mix of cafes and restaurants.
Besides the Cenang land, Tropicana also owns 49.6ha in Pantai Kok, Tanjung Rhu, Rebak Kecil and Bukit Mali.
Tropicana Corp Bhd says the Tropicana Grandhill development at Genting Highlands, covering 45.32ha, will be developed over three phases and feature residential units as well as a senior living facility.
