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Tropicana Outperformed H1 2023 Sales Target

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Tropicana celebrated 100% take up for its new business hub at Tropicana Aman, Kota Kemuning

Property developer Tropicana Corporation Berhad (“Tropicana” or “The Group”) celebrated many milestones in 2023, from 100% take-up of Tropicana Aman’s new shop offices, awards from industry experts to Islamic bond (sukuk) redemption of RM465.5 million. In a statement today, the Group announced that its property development arm has surpassed its property sales target, hitting RM650 million in the first six months of FY 2023 as property bookings soared above RM1.3 billion.

Nestled in the urban city of Subang Jaya, SouthPlace 2 Shoppes & Serviced Residences enjoy
strategic ingress and egress, with a direct link to the Federal Highway for ease of
connectivity

The management cited that the Group is on track to hit its RM1.3 billion mark as it focuses on rolling out market-centric developments while selling completed stocks to drive significant cashflows. Aside from the positive sales achievements, Tropicana’s unbilled sales stood at RM2.1 billion providing sustainable earnings for the Group.

Tropicana Paradise Villa Lots are nestled amongst lush forest greens, pristine waterfalls and
gentle creeks on the iconic hills of Tropicana WindCity, Genting Highlands

The Group remains optimistic and believes that there will still be strong demand for properties in prime locations in Tropicana’s established, matured, and developing townships. In 2023, the Group has 4 market-driven developments in place such as:

1.SouthPlace 2 Shoppes & Serviced Residences, Tropicana Metropark @ Subang Jaya

2.Shop Offices, Tropicana Aman @ Kota Kemuning

3.Tropicana Paradise Villa Lots, Tropicana WindCity, Genting Highlands @ Pahang

4.Phase 1 Terrace Homes, Tropicana Alam @ Puncak Alam

Overall, Tropicana’s total landbank spans 2,091 acres, with a total potential GDV of approximately RM203.7 billion, placing the Group in a good position to unlock the value of its strategic landbank and deliver sustainable performance in the next few years.

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