In an impressive culmination of strategic initiatives and market resilience, Tropicana Corporation Berhad (“Tropicana” or “The Group”) has announced a remarkable close to 2023. The property giant not only recorded an astounding RM1.4 billion in property sales but also adorned its mantle with 11 prestigious awards from 8 distinguished industry recognitions. This significant achievement underscores Tropicana’s unwavering commitment to excellence and innovation in the real estate sector.
Stellar Performance and Unbilled Sales: A Testament to Strategic Marketing
Tropicana’s remarkable journey through 2023 was significantly bolstered by its aggressive TropiQuest marketing campaign, dedicated customer engagement initiatives, and the relentless commitment of its team and agents. The introduction of customer-centric developments and new phases in existing townships such as Tropicana Aman, Tropicana Gardens, Tropicana Metropark, Tropicana Cenang, and Tropicana WindCity played a crucial role in spurring the Group’s sales growth. With a solid foundation of RM2.3 billion in unbilled sales, Tropicana is strategically positioned to deliver sustainable earnings in the forthcoming years.
From Resort-Style Developer to Sustainable Community Planner
The management team at Tropicana proudly reflects on the Group’s evolution and sustained focus. “Building townships since 1979, Tropicana has broadened its position from a resort-style developer to a sustainable community planner anchored on its 8 development DNAs and 3 ESG pillars. Our approach focuses on future proofing our businesses through our constant engagement with our stakeholders, especially our loyal property purchasers as well as our marketing and sales amplification through various online and offline initiatives. We aim to provide the best value, make a difference to the community and contribute to a sustainable future.”
A Year of Triumphs and Future Endeavors
The year 2023 was marked by a series of positive developments for Tropicana, including a successful sukuk redemption and multiple award triumphs. The strong property sales recorded across Malaysia and the high unbilled sales of RM2.3 billion are testaments to the Group’s robust market presence and future earning potential. Looking ahead, Tropicana is set to introduce 8 new or upcoming developments in 2024, with an estimated Gross Development Value (GDV) of over RM4 billion.
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Accolades Galore: Recognizing Excellence and Innovation
Tropicana’s commitment to excellence and innovation has been recognized across various prestigious platforms. The Group bagged 11 coveted accolades from 8 prestigious industry awards, including the StarProperty Awards, BCI Asia Awards, Asia Pacific Property Awards, FIABCI Malaysia-Star Malaysia Developer Awards, The Edge Billion Ringgit Club, The Edge Malaysia Property Excellence Awards, Malaysia Urban Planning Awards, and CXP Best Customer Experience Awards. These awards are a testament to Tropicana’s dedication to creating value and delivering excellence in every aspect of its operations.
Unveiling the Future: A Glimpse into 2024’s Exciting Developments
As Tropicana Corporation strides into 2024, it is poised to continue its growth trajectory with the unveiling of signature developments across Malaysia. These include Shoppes at Tropicana Aman, Terrace Homes at Tropicana Alam, Bora Tower B Serviced Residences & Retail Shops at Tropicana Danga Bay, and several others in strategic locations. With a total landbank spanning 1,842 acres and a potential GDV of approximately RM120 billion, Tropicana is well-positioned to unlock the value of its strategic landbank and deliver sustainable performance in the years to come.
Tropicana Corporation Berhad’s stellar performance in 2023 is not just a reflection of its past achievements but a strong indicator of its future potential. With a solid strategy, a commitment to sustainability, and a focus on customer-centric development, Tropicana is set to continue its trajectory of growth and success, contributing significantly to the real estate landscape in Malaysia and beyond.
