Property developer Tropicana Corporation Bhd celebrated one more important milestone by entering into a strategic partnership with Powerchina International Group Limited to kickstart the development of Tropicana Paradise in Genting Highlands. The memorandum of agreement was inked between Tropicana Inspirasi Indah Sdn Bhd and Tropicana Inspirasi Impian Sdn Bhd, wholly-owned subsidiaries of Tropicana, and Powerchina International Group Limited together with Sinohydro Corporation (M) Sdn Bhd, a wholly-owned subsidiary of PowerChina.
This agreement marked the start of a bullish year for Tropicana, as the Group continues to gear forward with its vision to bring Tropicana’s unique development DNA to Genting Highlands. Complementing the already vibrant Genting Highlands, Tropicana WindCity is a 596-acre mega master-planned township development starring the 308-acre Tropicana Paradise as the main catalyst. The highlight of Tropicana Paradise is an integrated entertainment hub that offers a total of 1.5 million sq ft of entertainment choices and 1 million sq ft of retail options across 38 acres. To complete the township in terms of liveable spaces and accommodation options, Tropicana Paradise is conceptualised to include modern serviced apartments with an emphasis on smaller one- and two-bedroom units, branded residences as well as 4- and 5-star international brand hotels. Tropicana WindCity is also Tropicana’s first township in Genting Highlands, South East Asia’s most popular tourist hotspot. This world-renowned tourist destination sited just 45-minutes away from Kuala Lumpur welcomes more than 40 million visitors annually.
Lee Han Ming, Tropicana’s Group CEO said that the partnership with PowerChina showed united commitment towards building a sustainable future as well as Tropicana’s strategic selection of strong partners.
“Foremost, I want to extend my sincere appreciation to PowerChina for their trust, confidence, and support in Tropicana. Our Tropicana team has worked for months to line up this deal and this collaboration signifies our united commitment towards building a sustainable township. PowerChina is a global powerhouse and a Fortune 500 company with a strong presence in the construction and engineering industry. With their expertise and construction financing, we are confident PowerChina will bring Tropicana Paradise to the next level,” Lee concluded.
Zhou Jiayi, Executive Vice President of PowerChina cited that they are proud to partner with Tropicana and believe that the vibrant Tropicana WindCity master development will attract a lot of positive interest from both locals and foreign investors. “We are excited to be part of this wholesome and exciting development in the highlands with a cool climate. We are confident with our engineering and construction expertise together with Tropicana’s master plan, we will certainly build a prominent entertainment and leisure hub of tomorrow at Tropicana Paradise.”
Tropicana and PowerChina Partnership
Founded in 1979, Tropicana is famed for pioneering the 625-acre Tropicana Golf & Country Resort, a self-sustainable township that won many awards for its innovative concept and designs. The Group then went on to develop 405-acre Tropicana Indah Resort Homes and has since planned more than 8 master townships and completed more than 65 developments across Malaysia. Named as one of the top 10 property developers in Malaysia, Tropicana has diversified business interests in Property Development & Property Management, Property Investment, Recreation & Resort, and Investment Holding. Overall, Tropicana’s total landbank stood at 2,452-acre, with a total potential GDV of approximately RM152.2 billion.
The Powerchina International Group Limited was founded in 2011, offering a comprehensive and full range of services from planning, investigation, designing, consulting, civil works construction to M&E installation and manufacturing services in the fields of hydropower, thermal power, new energy, and infrastructure. The business also extends into real estate, investment, finance, and O&M services. By the end of 2020, PowerChina has expanded its presence to 131 countries and amassed more than USD100 billion in construction projects globally. In 2021, PowerChina was ranked 107th among Fortune 500 Companies and named as the top global power construction company.
Tropicana and PowerChina are also committed to a more sustainable and greener future. Tropicana Paradise will introduce sustainable transportation and infrastructure such as a comprehensive cable car system, electric tram system, and elevated pedestrian walkways which are disabled-friendly as well as bicycle & wheels tracks (for scooters, skateboards, etc). Nature is preserved in the township with the natural landscape of matured trees being used as jungle-trekking and outdoor adventure venues. There is also a strong emphasis on sustainable energy such as solar energy. The development is in line with both companies’ strong green initiatives to fortify environmental, social, and governance (ESG) efforts to safeguard sustainable growth.
Foreign Investment Magnet
Malaysians and tourists can look forward to more exciting family escapades at Genting Highlands with this impressive 38-acre entertainment paradise. This also serves as a real estate magnet for foreigners wanting to own a vacation home in Malaysia or as a future rich investment. With an extensive international reach and network, Tropicana has had successful marketing and sales efforts in several Asian region countries recording positive and encouraging interests. Tropicana is confident that with the good response amongst investors, strong brand presence, and one-of-a-kind catalytic offerings of the entertainment hub, Tropicana Paradise will be the epicentre of all things entertaining at Tropicana WindCity, Genting Highlands.