Tropicana [email protected] targets younger buyers

KAJANG: Tropicana Corp Bhd is targeting younger buyers in Kajang for the first phase of its Tropicana [email protected] development, Fairfield Residences, which will be launched tomorrow.

Tropicana [email protected] sits on 199 acres (80.53ha)of freehold land and commands a gross development value (GDV) of RM2.3 billion.

Fairfield Residences covers 25 acres and has a GDV of RM250 million. It offers 289 units of 2- and 3-storey terraced homes with built ups from 2,135 sq ft to 3,213 sq ft. Prices start from RM736,000. The highest priced unit is a corner lot unit worth RM1.4 million.

Each unit comes with a water heater, automatic gate and quality finishes that include 2x2 ft tiles.

Tropicana [email protected] will be developed in eight phases over 10 years. The second phase will include cluster homes and semi-detached units. However, it is still in its infancy and no details have been finalised.

According to Pam Loh, the company’s executive director of sales and marketing, two phases will be launched each year.

“But if the market can absorb more, we will offer more,” she said.

Tropicana [email protected] also features a 750m linear lake and clubhouse. Among the facilities are a swimming pool, gym, tennis court, badminton court, food and beverage outlets, and a lounge area. Tropicana Corp aims to promote outdoor activities such as cycling and jogging by allocating 15 acres to green space in the development.

“Many from Cheras and Jalan Kelang Lama have showed interest in our project,” she said.

To date, the project has received more than 11,000 registrants.

“Over the past two years, houses in Kajang have appreciated at least 20%, and some as much as 40%. So we are confident Tropicana [email protected] will fetch a good appreciation value,” said Loh.

Tropicana has a number of ongoing projects, including Penang World City and 218 Macalister in Penang, and [email protected] Danga Bay in Johor, which will be launched on February 22.

It has a landbank of more than 2,200 acres with a potential GDV of RM80 billion. Its previous developments include Tropicana Golf & Country Resort and Tropicana Indah Resort Homes in Petaling Jaya, and Tropicana Danga Bay and Tropicana Danga Cove in Iskandar, Johor.

This article first appeared in The Edge Financial Daily, on February 14, 2014.

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