The Edge Online, 14 March 2014 - Tropicana unveils Bora Residences at Tropicana Danga Bay
The Edge Online, 14 March 2014
PETALING JAYA: Property developer Tropicana Corp Bhd last month launched the first tower of Bora Residences, which is Phase 2 of the Tropicana Danga Bay mixed integrated development in Iskandar Malaysia, Johor.
The 42-storey Tower A of Bora Residences, which has a gross development value (GDV) of RM480 million, comprises 396 units with built-up areas ranging from 694 sq ft to 3,443 sq ft. The units are priced from RM750,000.
“We have strong product differentiation and believe that Bora Residences will cater to the current growing demand for a mixed integrated development that embodies style, quality, safety and convenience,” said Tropicana southern region managing director Lee Han Ming in a press statement.
He added that the property market in Johor is exciting as it is reaping the benefits of the dynamic growth of Iskandar Malaysia.
Besides local developers, Chinese and Singaporean developers are also undertaking projects in the region. These have brought many changes to Johor’s property landscape, signalling market confidence and potential growth prospects.
Consisting of six luxury residential towers, Bora Residences comes with a range of floor plans to cater for various market segments, including one-bedroom duplexes with double volume ceilings, dual key concept units, homes with bay windows and balconies, as well as two penthouses with private swimming pools, all of which are conveniently integrated with the retail centre for easy access.
Each building is equipped with 4-tier, 24-hour security and high resolution motion-activated CCTV and interconnected via sky bridges, thus creating communal spaces for residents to connect with each other.
The unveiling of Bora Residences’ Tower A comes after the successful launch of Tropez Residences, Phase 1 of Tropicana Danga Bay, which has recorded more than 90% take up rate since its launch in end-2011.
Tropicana Danga Bay is a mixed-use development on 37 acres of prime freehold land within Zone A of Iskandar Malaysia. According to Tropicana, this development will in future be near the Railway Transit System and the High Speed Railway that connects Singapore to Kuala Lumpur.
Tropicana Danga Bay, which has an estimated GDV of RM8.3 billion, is set to be a mixed development with a variety of components such as food and beverage and other retail outlets, banks, budget hotels, medical and educational facilities, and offices. The development also boasts a 5-acre waterfront central park.
This article first appeared in The Edge Financial Daily, on March 14, 2014.