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Property News

Tropicana records unbilled sales of RM2.3bil last year

Tropicana Corporation Bhd is confident in enhancing its market presence and contributing to future earnings, backed by high unbilled sales and robust property sales.

PETALING JAYA: Tropicana Corporation Bhd recorded solid unbilled sales of RM2.3 billion in 2023, placing the company in a good position to deliver sustainable earnings in the next few years.

The property developer expressed confidence in strengthening its market presence and contributing to its future earnings, mainly supported by the high unbilled sales and strong property sales recorded across Malaysia.

“This is also complemented by our eight new or upcoming developments worth an estimated gross development value (GDV) of over RM4 billion in 2024,” it said in a statement today.

Entering 2024, Tropicana will be unveiling developments such as Tropicana Aman, Kota Kemuning, Tropicana Alam, Puncak Alam, and Tropicana Danga Bay, Johor, among others.

Overall, Tropicana’s total landbank spans 745 hectares, with a total potential GDV of approximately RM120 billion, placing the group in a good position to unlock the value of its strategic landbank and deliver sustainable performance in the next few years.

The group closed 2023 on a high note, recording RM1.4 billion in property sales and bagging 11 coveted accolades from eight prestigious industry awards.

The significant increase was mainly attributed to its aggressive TropiQuest marketing campaign, customer engagement initiatives as well as strong commitment from its team and agents.

“The introduction of new customer-centric developments and/or new phases in existing townships such as Tropicana Aman, Tropicana Gardens, Tropicana Metropark, Tropicana Cenang, and Tropicana WindCity spurred the sales growth of the group,” it said.

At the close of trading, Tropicana’s share price was unchanged at RM1.26, giving it a market capitalisation of RM2.9 billion.

Source: FMT News

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