Tropicana Corporation is poised to scale up its expansion in Johor, Malaysia, as it aims to unlock 800 acres of premium landbank with a gross development value (GDV) of RM43 billion ($12.3 billion). The move comes in the wake of positive developments in Johor, including significant foreign direct investment, revived high-speed rail plans, and the designation of special economic zones.
Tropicana Corporation is no stranger to Johor, having established a presence in the state back in 2010 through its partnership with Iskandar Waterfront to develop mixed-use projects like Tropicana Danga Bay and Tropicana Danga Cove. These developments achieved a 100% take-up rate for their residential, retail, and office components, setting a solid foundation for Tropicana’s expansion plans.
The company aims to capitalize on Johor’s thriving economy, which secured RM70.6 billion in foreign direct investment in 2022, the highest in Malaysia. Additionally, plans to revive the Kuala Lumpur-Singapore high-speed rail and the designation of Forest City in Johor as a Special Financial Zone (SFZ) are expected to further boost the state’s attractiveness to investors and businesses.
The Johor Bahru-Singapore Rapid Transit System (RTS) link, scheduled for completion by the end of 2026 or early 2027, is also poised to enhance connectivity and accessibility in the region, making Johor a desirable investment destination.
Tropicana has allocated RM23 billion for two integrated townships, Lido Waterfront Boulevard and Tropicana Danga Bay, in Johor. These developments are set to feature sustainable and modern components, including serviced apartments, retail lots, and Grade-A office towers. With their strategic locations near the upcoming RTS Link, they are poised to benefit from improved transportation infrastructure.
Tropicana’s commitment to expanding its presence in Johor reflects its confidence in the state’s positive economic outlook and its aspiration to contribute to the region’s growth and development.
