Property & Resort Development
Property development is the core business of Tropicana Corporation Berhad (“Tropicana” or “Company” or “Group”). Over the last 23 years, the Company's assets has increased more than thirteen-fold from RM500 million to RM7.2 billion. The Group also enjoys a commanding position in the property market attributable to more than 1,800 acres of quality land bank with an approximate total Gross Development Value (GDV) of over RM50.0 billion. Supplementing the core business is the resort operations of Tropicana Golf & Country Resort. Established in 1992, the Resort has won numerous awards, making it a household name amongst residents in Petaling Jaya City, Malaysia. With a strong foundation of past and present successes in property and resort development. Tropicana Corporation is committed to building luxurious, resort-themed lifestyle developments and commercial properties for discerning customers.
Launched in 2009, Tropicana City marks Tropicana Corporation’s maiden venture into property investment. The mixed commercial development, strategically located in the heart of Petaling Jaya city encompasses Tropicana City Mall, Tropicana City Office Tower and Tropicana City Tropics serviced apartments. The Group also built and manages the established Damansara Intan e-Business Park, which is located next to this vibrant development. Both developments recorded 100% occupancy rate.
In 2015, the Group sold Tropicana City Mall and Tropicana City Office Tower for a cash consideration of RM540 million. This disposal underscores Tropicana’s strength as a developer in developing products that appeal to the marketplace, and the Group’s ability to monetise the value of its assets.
With remarkable success, the Group marks its debut into the hospitality industry by introducing the W brand to Malaysia. W Kuala Lumpur Hotel and Tropicana The Residences, located adjacent to Petronas Twin Towers, is expected to be completed by 2016. The hotel will be managed by Starwood Hotels & Resorts Worldwide whilst The Residences will be managed by Tropicana Group.
Tropicana also entered into a strategic partnership with Marriott International to develop Courtyard by Marriott, the first Courtyard Hotel in Malaysia. Courtyard by Marriott Penang will be developed at Tropicana 218 Macalister, the Group’s latest development on the popular tourism city, Penang Island. Designed to reflect the fabric of Penang, the grand opening is slated on 2018 and will incorporate the city’s vibe and personality into its modern deco.
Property Management & Services
Tropicana Corporation Management Services provides expertise in property management as well as maintenance services for both residential and commercial developments. The Company’s property management portfolio includes landed developments in the prestigious Tropicana Golf & Country Resort, Tropicana Indah Homes, Tropicana Danga Bay and the Group will also manage its future luxurious developments such as Tropicana The Residences at Kuala Lumpur City Centre and Tropicana 218 Macalister at Penang Island.