The decline in both revenue and profitability was primarily attributable to the completion of the divestment of several investment properties, resulting in a reduction of recurring income. On a positive note, the Group’s finance costs declined in line with its ongoing strategy to reduce overall debt levels through asset monetisation initiatives

The management cited, “We will continue to strive forward and strengthen our stakeholder engagements, focusing on value creation as well as establishing strategic marketing and salescampaigns across our online and offline platforms. We believe that the demand for properties in Tropicana’s established, mature and developing townships will persist and that the property market should maintain its positive momentum in 2025.”

“Tropicana’s unbilled sales stood at RM2.1 billion, placing the Company in a comfortable position to deliver sustainable earnings. As a community planner, we will continue to connect communities, forge better futures while delivering sustainable growth”, the management added .

Tropicana will continue to gain traction in the market with these ongoing and new developments worth an estimated GDV of RM6.2 billion:

1. Varia Shop Offices, Tropicana Aman @ Kota Kemuning
2. Avisa Terrace Homes, Tropicana Alam @ Puncak Alam
3. Breeze Hill Shoppes & Serviced Apartments, Tropicana Avalon @ Tropicana WindCity, Genting Highlands
4. Serviced Suites & Bungalow Lots, Tropicana Paradise @ Tropicana WindCity, Genting Highlands
5. Clarissa Serviced Suites & Beachwalk Shoppes, Tropicana Cenang @ Langkawi
6. Skypark Kepler Branded Residences, Lido Waterfront Boulevard @ Johor
7. Fraser Heights Terrace Homes, Tropicana Uplands @ Johor
8. Bora Serviced Apartments, Tropicana Danga Bay @ Johor

In the pipeline, these 2 projects will be ready for the delivery of Vacant Possession in FY2025:

1. Hana Residences, Tropicana Aman @ Kota Kemuning
2. Edelweiss Serviced Residences, SOFO & Shoppes, Tropicana Gardens @ Tropicana Indah

Over the past few months, the Group has announced many positive news such as the 100% take-up on 10 of its developments across Malaysia, as well as successful collaborations with various international firms to boost confidence and sales. Tropicana Miyu, Edelweiss Serviced Residences, Freesia Residences, Gemala Residences, Hana Residences and SouthPlace Residences in the Klang Valley recorded 100% take-up. In the northern and southern regions, Assana and Merissa Serviced Suites in Langkawi, as well as Aster Heights and Summit Commercial Hub in Johor, posted 100% take-up. Tropicana Alam, the Group’s latest township at Puncak Alam, introduced its Avisa Residences show units, resulting in a positive 76% take-up (phase 1). With these positive interests, Tropicana plans to roll out more new phases soon.

Tropicana’s current landbank stood at 1,336.1 acres, with a total potential Gross Development Value (“GDV”) of RM168.4 billion. In addition, the recent appointment of world-class architectural firm Skidmore, Owings & Merrill to lead the transformation of 163-acre Lido Waterfront Boulevard (“LIDO”) will add more value, placing LIDO as its most prime piece of land in Johor. This strong land portfolio strategically positions the Group to unlock significant value, drive growth and deliver sustainable performance in the next few years.