Tropicana Corporation Bhd (Tropicana) is gearing up to soft-launch two of its significant developments in JohorโLido Waterfront Boulevard in Johor City Centre and Fraser Hills in Tropicana Uplands, Gelang Patahโin the coming months. These projects reflect Tropicana’s strategic expansion in response to the growing demand in Johor’s property market, particularly after the announcement of the Johor-Singapore Special Economic Zone (JS-SEZ) in January 2024.
The announcement was made during an event that also marked the signing of a sale and purchase agreement between Tropicana Firstwide Sdn Bhd (TFSB), a wholly-owned subsidiary of Tropicana, and NTT GDC Malaysia, an indirect subsidiary of Japan’s NTT Data Group. The agreement involves the sale of a piece of freehold land in Gelang Patah, Johor Bahru, to NTT GDC for the development of a data centre, further enhancing Johor’s positioning as a digital and economic hub.
Lido Waterfront Boulevard: A Landmark Development in Johor City Centre
Lido Waterfront Boulevard (Lido) is set to be a landmark integrated mixed-use development, occupying 163 acres of reclaimed land along the Johor City Centre waterfront, facing Singapore. With a gross development value (GDV) of RM34 billion, Lido is poised to become one of the most prestigious addresses in the region. The first phase of the project, The Watermark residence, will be soft-launched around the fourth quarter of 2024.
The Watermark residence will offer a luxurious living experience with close proximity to essential amenities, including a 7 to 10-minute drive to the Bukit Chagar Station of the Johor BahruโSingapore Rapid Transit System (RTS) line. This strategic location enhances connectivity, making it an attractive option for those who work or do business in Singapore.
Tropicana Uplands: A Sustainable Township with Strategic Connectivity
Tropicana Uplands, another key development by Tropicana, is a 314-acre sustainable freehold township located in Gelang Patah. The township is strategically positioned within a 15 to 20-minute drive from the Malaysia-Singapore Second Link Expressway and Senai International Airport, providing excellent connectivity for residents and businesses.
Tropicana Uplands aims to be a modern, sustainable community that integrates residential, commercial, and recreational spaces. The development’s sustainability features and strategic location are expected to attract both local and international buyers, particularly those who value green living and convenient access to key transportation hubs.
A Boost in Demand Following the Johor-Singapore SEZ Announcement
Tropicana’s managing director, Ixora Ang, highlighted the impact of the Johor-Singapore Special Economic Zone (JS-SEZ) on the property market. “Since the announcement of the JS-SEZ in January 2024, we have seen a significant boost in demand across all property sectors, especially for residential and commercial properties. This is evident in the increased transaction volumes and rising rental values for purpose-built offices, which will be integral to our new developments,” Ang said during her presentation.
The JS-SEZ is expected to drive economic growth in the region, attracting investments and boosting property values. Tropicanaโs developments, such as Lido Waterfront Boulevard and Tropicana Uplands, are positioned to capitalize on this growth, offering high-quality living and working spaces that meet the needs of the evolving market.
Land Sale to NTT GDC: A Strategic Partnership for Digital Growth
In addition to its property developments, Tropicana is also making strategic moves in the digital economy sector. The sale of 68.457 acres of freehold land in Gelang Patah to NTT GDC Malaysia for RM383 million is a significant step in this direction. The land will be used to develop a state-of-the-art data centre, supporting Malaysia’s vision to become a global destination for data centre operators.
“Johor is experiencing an exciting time with the rapid growth of its digital industry. We support Malaysia’s vision to become a global destination for data centre operators to the worldโs largest technology companies,” Tropicana stated in a joint statement with NTT GDC.
Looking Ahead: Tropicanaโs Vision for Johor
Tropicanaโs commitment to Johor extends beyond these two developments. The company plans to strengthen its presence in the Iskandar Malaysia region with its remaining landbank, which spans nearly 1,000 acres. These lands are earmarked for a variety of developments, including data centres and mixed-use projects, further contributing to Johor’s economic growth.
“Tropicana has a strong presence in Johor, and close to a 1,000 acres of additional landbank in the region, which are ready to be utilized for a variety of developments,” said Tropicana CEO Ong Chou Wen. “This includes strategic landbank neighboring our T Industrial Park, Pontian, as well as around Gelang Patah.”
As Tropicana continues to expand its footprint in Johor, it is clear that the company is committed to driving growth and creating value in the region. With its strategic developments and partnerships, Tropicana is well-positioned to capitalize on the opportunities presented by the Johor-Singapore Special Economic Zone and the broader economic growth in Johor.
