KL and Selangor Property
Tropicana Wins Gold At ESG Positive Impact Awards 2024 For Its ESG Excellence
Tropicana Wins Gold At ESG Positive Impact Awards 2024 For Its ESG Excellence • Tropicana came out tops when the Group won Gold at
Tropicana Wins Gold At ESG Positive Impact Awards 2024 For Its ESG Excellence • Tropicana came out tops when the Group won Gold at
Positioning itself as an eco-friendly and sustainable community builder, Tropicana Corporation Berhad (“Tropicana” or “Group”) inked an MOU with GreenRE Sdn Bhd (“GreenRE”) to pledge a long-term partnership anchored on sustainable living. This MOU demonstrated Tropicana’s commitment to sustainable practices and green building excellence for its developments.
Tropicana Corporation Berhad (“Tropicana” or “Group”) announced its unaudited financial results for the second quarter ended 30 June 2024 (“Q2 2024”). The Group’s profit before tax (“PBT”) for Q2 2024 rose to RM76.1 million compared to RM1.8 million in the corresponding quarter last year, mainly due to higher income as a result of higher progress billing, unrealised gain on quoted shares and lower finance cost following the Group’s debt reduction initiatives.
In July, Tropicana Corporation Berhad (“Tropicana”) celebrated the 7 months early handover of vacant possession (“VP”) to 116 happy homeowners of Gemala Residences in Tropicana Aman, the developer’s largest 863-acre self contained township at Kota Kemuning. Gemala Residences is a premium lakeside development within Tropicana Aman located on a 16-acre enclave featuring modern smart homes for the tech-savvy offering peace-of-mind security within a guarded township.
Until today, when I am traveling, I would still prefer hotels over AirBnB. Safety is one. I have stayed in a homestay where my unit was the only one which was occupied in the whole corridor. I also prefer to have an immediate response to any issues in the room. I also think that having a breakfast ready for me if better than me driving out to find a place which I may not be familiar with. However, could there be an oversupply of hotels when 10 new ones are built within a few years in Penang? Penang Chief Minister does not think so.
Apologies. This is the first time I read about the Silicon Island. Somehow, this news did not reach me previously and now I get to know about this super huge development on a reclaimed island in Penang. Then I read further and I realized this was once known as Penang South Island. Okay, I have heard of this before! I think I have written in support of it too. So, how will this impact Penang and when would there be something significant happening in Silicon Island of Penang?
My second property in Penang was by an IOI Properties subsidiary company. That was the property which kick-started my property investment journey. I personally believe our property investment journey starts when we buy the second property. If it’s just one, then it’s just a property buy. Note that this is my own definition and I have no idea what other think. Now, there’s some good news with regards to IOI Properties Group.
Sorry. I do not understand the article below. Basically, it is implied that when it comes to renting out their property, homeowners are supposed to ensure they only rent to locals? If they rent out to foreigners, then it’s not good because then they will turn the neighbourhood into a foreign colony. However, at the moment, this is more of an advice since there are no legal requirement that Malaysian homeowners can only rent out to locals and not foreigners. Do read on and let me know your thoughts, if you also own properties in the areas stated below.
Typically, the land price is usually 10-15 percent of the gross development value (GDV). Therefore, if a developer purchases a RM100 million land, then they are aiming for a GDV of probably RM1 billion. Of course, if this piece of land is within the city centre, then land cost versus GDV could be much higher because land price within the city centre is usually higher than land in the suburbs for example.
Tropicana Indah Sdn Bhd (“TISB”), an indirect 70%-owned subsidiary of Tropicana Corporation Berhad (“Tropicana” or “Group”), has signed a sale & purchase agreement (“SPA”) with IOI Mall Damansara Sdn Bhd (“IOI MD”), a wholly-owned subsidiary of IOI Properties Group Berhad (“IOIPG”), for the sale of Tropicana Gardens Mall (“TGM”) for a total consideration of RM680 million. This disposal will enable the monetisation of Tropicana’s investment property. The proceeds from the sale will be used to substantially reduce the Group’s debt, thereby improving the cash flow position and reducing interest expenses. This transaction aligns with the Group’s ongoing strategic initiatives to monetise its low-yielding landbanks and investment properties, providing the financial flexibility necessary to support future growth.
I just read that the LRT line for Penang is finalised. In fact, it’s now in the open tender phase too. For Penangites who may want to take the public transport and only drive when it’s necessary, this is good news yeah. Let’s also not forget that the petrol price will be going up too and that’s not a great news versus a potentially lower cost when one takes the LRT instead.
Tropicana Aman Celebrates Timely Completion Of Freesia Residences With Qlassic Score of 81% • Tropicana Aman celebrates the timely handover of Freesia Residences to its’