JOHOR BARU: Dijaya Corp Bhd is banking on the strategic location of its Tropez Residences in Tropicana Danga Bay, Iskandar Malaysia, Johor , to attract international buyers.
Tower A of the three-tower condominium was launched last Saturday. The project is part of the RM3.8 billion Tropicana Danga Bay development, a joint-venture project between Dijaya Corp and Iskandar Waterfront Sdn Bhd. The integrated project sites on 37 acres (15ha) within Iskandar Malaysia.
"Due to the strategic location of Iskandar Malaysia at the crossroads of two straits, two oceans and two continents, Tropicana Danga Bay has great potential to become an international landmark. It is driving the development of a thriving metropolis in the southern part of Johor," said Dijaya Managing director.
"Our latest product, Tropex Residences, has garnered keen interest from local and foreign purchasers. Tropicana Danga Bay can capitalise on Malaysia's synergies with Singapore by offering an optional address that is conveniently linked to vibrant Singapore," he said.
The target market for the condos are young executives residing in Johor, small families, Malaysians working in Singapore, foreigners, especially Singaporeans, and investors, said the MD of Dijaya.
At press time, 200 of Tropez Residences' 428 units in Tower A had been sold. The RM650 million bay front condominium stands 38 storeys tall. The units have built-ups of 689 to 1,668 sq ft with prices from RM400,000. There is a range of one-bedroom plus study to three-bedroom apartments.
Facilities include a swimming pool, gym, multi-purpose hall and tennis court. There will be a two open air sky lounges in Towers A and B while the entire condo project will eventually be connected by a level six walkaway to the entire Tropicana Danga Bay development.
Tropez Residences' other towers will be launched next year. Tower B is 39 storeys with 424 units; Tower C is 29 storeys with 297 apartments.
Tropicana Danga Bay is set to be an integrated community linked via a network of well-shaded sky bridges and pathways and extensive green roofs. It will also have a blend of lifestyle and commercial properties along with a hotel and a shopping centre.
Situated on the Straits of Johor, the project is accessible via a network of major highways, such as the North-South Expressway and access to Singapore is easy. It is close to the city centre and Senai International Airport as well as cargo hubs and seaports.
The developer of Tropicana Golf & Country Resort, Tropicana Indah Resort Homes and Tropicana City in the Klang Valley is also in collaboration with Starwood Hotels and Resorts Worldwide Inc to develop a five-star W Kuala Lumpur Hotel and Residences in Kuala Lumpur city centre which is expected to commence by early 2012.
In Penang, the group has just entered a joint venture agreement with Ivory Properties Group Bhd to build a mixed development project in Bayan Mutiara, Penang.