KUALA LUMPUR – Tropicana Corp Bhd has proposed to acquire two parcels of land in Bentong, Pahang through its two indirect subsidiaries for RM402.5 million.
In a filing with Bursa Malaysia today, it said both parcels, measuring 124.64ha in total, will be acquired through Elkwood Realty Sdn Bhd and Snowflakes Realty Sdn Bhd.
"Tropicana’s strategy for landbank acquisitions has been to focus on the nation’s main economic regions, namely the Klang Valley, Johor, and Genting Highlands and to ensure that the Tropicana Group is well represented in key growth corridors within each region.
"The proposed acquisitions along with the company’s existing land adjacent for future development hereby provide an opportunity for the company and the group to build upon its land bank and also to enhance its property development profile in Genting Highlands," it said.
The group is focused on developing its existing townships in Klang Valley and Johor, which it said have performed tremendously well in view of its established township themes.
"This strategic location within a short distance to Awana Genting Highlands Golf and Resort, Genting Highland Premium Outlet, and Awana Skyway, along with its immediate vicinity within the established and matured Gohtong Jaya augurs well for the development of the said land parcels.
"Additionally, there are established and well-received condominiums/serviced apartments developments in the vicinity such as Windmill Upon Hills, Vista Residence, Geo 38 and Midhills at Genting Highlands," it said. – Bernama, November 10, 2020
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