Tropicana unveils plans of two mega townships worth over RM30b in Johor

• Strategically located 1.5km from the Causeway Link and the JB RTS Station, Lido Waterfront Boulevard offers freehold properties with international zoning, allowing 95% foreign ownership and a low foreigner purchase threshold of RM400,000. 

JOHOR BAHRU (July 5): Tropicana Corporation Bhd is set to capitalise on its 2,000-acre land bank after it unveiled its plans to develop two mega townships in Johor with a combined gross development value (GDV) exceeding RM30 billion.

The integrated townships, Lido Waterfront Boulevard in Johor Bahru (JB) and Tropicana Uplands in Gelang Patah, will span a total of 407 acres.

“With Johor experiencing a phase of accelerated growth, Tropicana aims to tap into this huge potential and transform these signature townships  into a dynamic metropolis of the south,” said Tropicana group managing director, Din Tan.

Tropicana has been gaining a strong foothold in Johor since 2010 after partnering with Iskandar Waterfront to develop the 37-acre Tropicana Danga Bay and the 227-acre Tropicana Danga Cove. Both projects quickly achieved 100% take-up for their residences, shops and offices.

“The demand index for Johor properties climbed by 17%. These demand trends are in line with Napic (National Property Information Centre)’s Property Market Report 2023, which noted a 20% decrease in Johor’s unsold property units from 5,258 in 2022 to 4,228 units by 2023.

“Coupled with the rental price hike in Singapore, it is the right time for Tropicana to roll out its strategic townships to spur its growth plan in the booming Johor market,” said Tropicana chief executive officer Ong Chou Wen, referring to Tropicana’s headway in the southern region. 

Lido Waterfront Boulevard: 163 acres of prime land

Situated on reclaimed waterfront land bordering Singapore, Lido Waterfront Boulevard offers freehold properties with international zoning, allowing 95% foreign ownership and a low foreigner purchase threshold of RM400,000. 

Strategically located 1.5km from the Causeway Link and the JB Rapid Transit System (RTS) Station, it features a 2.5km coastal boardwalk, a 32-acre green park, serviced apartments, a hotel, offices, a shopping mall and retail shops.

The RM34 billion GDV masterplan will commence with a soft launch of The Waterfront Residences in the third quarter of this year, valued at RM1 billion. It will comprise 1,596 serviced residential units and 16 retail lots.

“We will also unlock the benefits of this international zone to Bumiputera buyers. They will access exclusive discounts and a privileged window to select lots,” said Ong.

The mega development is expected to take 10 to 15 years to complete. 

Tropicana Uplands: 314 acres of sustainable living

Approximately 25 minutes west of JB, Tropicana Uplands presents itself as a sustainable township with residential and commercial components. This freehold development in Gelang Patah features a central community park, and educational and recreational facilities.

The township's first residential precinct, Aster Heights, achieved a 100% take-up for its 193 units of two-storey terrace houses within five months of its 2021 launch. 

Fraser Heights, spanning 35.26 acres, is next in the pipeline in 3Q2024, offering 518 units of 2-storey and 2.5-storey premium terrace houses, with a GDV of RM387 million. 

T Industrial Park covers a vast 1,188 acres

Meanwhile, also in Gelang Patah, it was noted that the masterplan of Tropicana's Industrial Park (TIP) covers 1,188 acres, with Phase 1 comprising 220 acres. It has already achieved a 100% take-up rate, with 45.2 acres taken up by US-based appliance supplier Alton Industry Ltd Group when it was launched in November 2021.

Phase 2 of TIP, launched in 1Q2023, covers 38 plots spanning 104.5 acres and targets small and medium enterprises (SMEs) and multinational corporations. It has a GDV of RM171.6 million.

Johor’s growth catalysts

As the southernmost city in Malaysia, JB stands out as the second-largest and one of the fastest-expanding cities in the country. In 2023, JB welcomed 16 million tourists, with plans to attract 20 million visitors in 2024, underscoring its status as a major tourism hub.

The city's connectivity is enhanced by two causeways — the Johor–Singapore Causeway and the Malaysia–Singapore Second Link — connecting approximately 450,000 travellers.

The under-construction JB–Singapore RTS Link is also scheduled to be completed in December 2026. It is foreseen to transport over 10,000 passengers per hour between JB and Singapore in just six minutes.

“Post-announcement of the Johor-Singapore Special Economic Zone, many unsold units were snapped up within months. We foresee that the completion of the RTS will be a historical moment and the time to invest is now,” Ong added.

According to Napic, the Southern Region property market performance registered 103,527 transactions worth RM53.98 billion in 2023, which increased by 18% and 34.9% in volume and value respectively as compared to 2022.

Tropicana Corp​ is a strategic partner with EdgeProp START, featuring the Tropicana Gardens and SouthPlace 2 Residences developments. All Tropicana Corp​​​ homebuyers also get to enjoy rewards worth up to RM18,888.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!