Tropicana Corp To Develop RM6.3 Billion GDV Tropicana Metropark

Post date: Apr 13, 2014 12:35:24 PM

May 31, 2013

SUBANG JAYA: Property developer, Tropicana Corp Bhd, is developing a 35.6ha land here into a mixed development project, namely Tropicana Metropark, with a gross development value of RM6.3 billion, spanning over 12 years.

Group Chief Executive Officer Datuk Yau Kok Seng said the project, with a net floor area of about 743,000 square metres, will be offering a fusion of residential, office space, retail, shopping mall, a four to five-star hotel, entertainment hub and learning and medical centres.

"Tropicana Metropark is the company's launch pad to build its momentum this year," he told reporters at the project ground-breaking by Subang Jaya Municipal Council (MPSJ) President Datuk Asmawi Kasbi.

To enhance accessibility of its development, Yau said, the company will build a RM150 million flyover which will directly link the project to the Federal Highway.

"Work on the flyover will commence next year and is expected to be completed by 2016," he said.

Meanwhile, Asmawi said MPSJ was talking to Keretapi Tanah Melayu Bhd to relocate the nearby Batu Tiga commuter station into the Metropark area to improve connectivity of the development.

In conjunction with the ground-breaking, Tropicana also launched the Pandora service residences, with a gross development value of RM360 million.

The two residential towers offered 627 apartment units with three designs - studio, two and three-bedroom, with built-up areas from 600 to 1,200 square feet, priced at RM840 per square foot.

"Since the preview two months ago, over 70 per cent of the total units were snapped up, signifying high demand and buyers' confidence for the development," Yau added.

- BERNAMA