Developer's brand name a strong pull factor
The News Straits Times, July 27, 2001 - By Jennifer
t's no big secret that a home with ample land in
affluent Petaling Jaya is becoming a rare commodity
- so rare, in fact, that many turn green with envy
at the sight of bungalows with sprawling lawns. But
those with fat wallets need yearn no more as 47 bungalow
plots and 148 semi-detached house are being released
in the first phase of Green Acres, a new development
taking shape in the Tropicana Golf and Country Resort.
Developed by Tropicana Golf & Country Resort Berhad,
a member of the listed Dijaya Corporation Berhad,
and located near - by Bandar Utama Damansara and Kota
Damansara, Tropicana is spread over 625 acres of former
estate land. It presently boasts a 27-hole golf course,
reputed to be one of the top-three golf courses in
the country and one of the country's largest clubhouse
with a built up area of 350,000sq ft.
The Tropicana brand name is what Dijaya managing director
Poh Pai Kong says will draw buyers able to afford
the premium priced bungalow plots and semi-detached
houses within the resort development, despite the
prevailing market conditions.
"I am sure that the limited bungalow plots and
semi-detached units in Green Acres would be able to
attract buyers. After all, these properties, to be
built over 35 acres, will be the first phase of the
last batch of landed properties in Tropicana,"
The second phase, which will be built over 21 acres,
is expected to comprise 16 bungalow plots, 32 semi-detached
units and 118 terrace houses. For the first phase,
Poh said prices for the plots of land ranging from
7 ,632sq .ft to 15,661sq ft are between RM108psf and
RM128psf. The semi-dees, on the other hand, will be
pegged from RM951,000.
Poh - "Tropicana has attracted foreign interest"
Two types of semi-dees are available - Floria and
Gloria. The Floria will have built-up areas ranging
from 4,290sq ft to 4,315sq ft and land of between
4,004sq ft and 13,000sq ft. Gloria will be slightly
smaller, with 3,910sq ft to4,046sq it of space sitting
on plots of 3,595sq It to a little over 9,000sq ft.
Although only officially launched today, the developer
has so far sold RM31 million worth of properties representing
15 per cent of Green Acres' total sales value of RM200
million since get-together held for " about 1,000
registrants less than two weeks ago. For the whole
Tropicana development, Poh said 433 bungalow plots,
84 semi-detached houses, 143 terrace houses, 58 townhouses
and two office blocks have so far been developed.
"We believe we have , been able to create a place
where people can live, work and play in a secure environment,"
he said. Looking at the existing resident mix in Tropicana,
Poh's expectations that the Green Acres -units would
also draw foreign interest, either through purchase
or rental of the units are not entirely unrealistic.
"Foreigners prefer to live in landed properties
with large garden space, but usually end up living
in condos because of their concern for safety. "However,
Tropicana has managed to meet their security and quality
maintenance expectations, while offering them land
and recreational facilities," he said.
Poh added that the other attributes that would attract
buyers are Tropicana's extensive landscaping and modern
infrastructure, where the utility cables would be
neatly laid underground. Those deliberating purchase
should bear in mind that the developer would in the
future, increase the prices of bungalow plots and
units in its next launch.
Poh indicated that the bungalow plots could increase
by about RM5psf. "This is to ensure that our
initial purchasers are rewarded," said Poh. who
expects the Green Acres homes to be sold within the
next six to eight months. When completed in four years'
time, Tropicana will have 4,392 residential units,
of which 3,313 would be of the stratified type.
In the company's 2000 annual report, it was stated
that, Dijaya still owns 342.6 acres of land in Tropicana,
of which the golf course and club-house make up 261
acres, leaving another 26 acres to be developed excluding