Developers Must
Play a Role in
Curbing House Price
Speculation
Tropicana’s Transformation as a Premier Developer
Meanwhile, the group’s PWC
project and its Tropicana 218
Macalister development in Penang
are expected to stir interest in the
northern region. The group is also
making inroads into Sabah where
it plans to develop a luxurious
golf fronted condominium project
called Tropicana Landmark.
Tropicana Penang World City artist impression
Real Estate and Housing
Developers’ Association (REHDA)
president, Datuk Seri Michael Yam
The government wants housing
developers to play a role in curbing
price speculation as there have
been cases of one person buying
many houses without any intention
of staying there, Minister in the
Prime Minister’s Department Datuk
Seri Abdul Wahid Omar said today.
He said some of the transactions
were made before the official
launch of the properties. He asked
that housing developers to focus
on genuine buyers so that those
who really want affordable homes
can have access to them.
“We (the government) want to
make sure we curb excessive
speculation (in the market) and
build enough supply.
“This is to ensure that those who
really want it, will have access to
affordable homes,” Wahid said after
launching Cagamas Holdings Bhd’s
book entitled Housing the Nation:
Policies, Issues and Prospects
today. Wahid said the government
did not want to over-regulate.
“We want developers to come
up with their own steps (to curb
speculation)..”
Meanwhile, Real Estate and
Housing Developers’ Association
Malaysia chairman Datuk Seri
Michael Yam Kong Choy said:
“I think a responsible housing
developer wouldn’t want to sell
too many units to one party. The
reason is because people who
purchase multiple units want a
discount.
“Also, some parents would like to
purchase multiple units for their
children,” he said.
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Tropicana Corporation Bhd,
formerly Dijaya Corporation Bhd, is
all set for strong growth ahead as it
enters 2014, judging from its past
year’s performance, well-received
new launches and transformation
initiatives. The group is also on
track to achieve its vision as a
premier developer in the country,
given its strong presence in the
key growth areas in the central,
southern and northern regions. A
large part of the credit goes to its
impressive sales performance for
its ongoing key projects such as
Tropicana Grande and Tropicana
avenue in Greater Kuala Lumpur
(KL) and Tropicana Danga Bay
project in Iskandar Malaysia, Johor
where its first phase of Tropez
Residences, has been fully sold and
is expected to be completed by
end of 2014.
Meanwhile, its second phase, Bora
Residences, with sizes ranging
from 694sq ft for a 1+1 bedroom
to 3,443sq ft for a 4+1 bedroom
penthouse with a private pool, has
opened for sales. This phase will be
infused with generous landscapes
and water features. The group’s
recent new launches – Bayberry
Serviced residence at Tropicana
Gardens,Pandora Serviced
residence at Tropicana Metropark
in Subang and Tropicana Bay
Residences in Penang Worldcity
(PWC), Bayan Mutiara, Penang
– which enjoyed strong take-up
averaging over 80%, is testimony to
the group’s brand appeal, design
and development concepts.
Taking into consideration that
the group’s DNA emphasises on
location, accessibility, innovative
designs, security, efficient use of
space and developing sustainable
townships, this augurs well for
its developments that are on the
drawing board for 2014.
New Project Highlights
In the Klang Valley, the group’s new
project line-up include Tropicana
Gardens in Kota Damansara and
Tropicana Metropark in Subang.
In addition to these projects
are W Kuala Lumpur Hotel and
The Residences in KL as well
as Tropicana Heights in Kajang,
Selangor, where phase one of its
parkview homes is expected to be
launched soon. Besides its RM8.3
billion Tropicana Danga Bay project
which spans 37 acres of freehold
land, the group will roll out two
other projects in the southern
region, namely Tropicana City
Centre and Tropicana Danga Cove.
Sited within Zone A of the Johor
Bahru City Centre in Iskandar
Malaysia, Tropicana City Centre is
a RM5 billion mixed development
that includes lifestyle properties
such as SoHo (Small office Home
office), an office tower, hotel and
retail or food and beverage outlets.
Targeted for launch in October
2014, its first phase, the 7.95acre Veridian Residences, will
comprise four towers of luxurious
serviced residences. Tower A1’s
unit size will range from709sq ft
for a 1+1 bedroom to 1,946sq ft
for a four-bedroom penthouse.
Jointly developed with Iskandar
Waterfront Sdn Bhd, the 227-acre
Tropicana Danga Cove in Bandar
Baru Kota Puteri will