Paloma Metropark @ Tropicana Metropark

  • Pavither
  • 8 August 2019

Tropicana Metropark is an 88-acre mixed development located in the enclave of Subang Jaya – an affluent, suburban city in the Klang Valley. Tropicana Metropark nurtures a holistic lifestyle by incorporating residential, business, retail, and recreational areas into the development.  

Tropicana Metropark, with a gross development value of RM7.2bil, is inspired by Melbourne, Australia, and its Yarra River. It is developed by Tropicana Corp Bhd (previously known as Dijaya Corp Bhd) and it encompasses the following.

  • 54-acre Metroplex
  • 2-acre Central Park
  • 94-acre Pandora Serviced Residence
  • 82-acre Paloma Serviced Residences & Courtyard Villas
  • 29-acre Paisley Serviced Residences
  • Commercial development

The development sits on freehold land in the Subang Hi-Tech Industrial Park, and includes a central park, and a flyover that links it directly to the Federal Highway. The developer has invested to build the park, flyover, and other infrastructure to enhance the value of the development.

Overlooking Central Park

Every building at Tropicana Metropark will have easy access to the Central Park. The completed Central Park, with its 750-metre canal complete with bio-filtration systems, also features cycling and jogging tracks and a pedestrian promenade.

For those with young children, there’s GEMS International School within the development. It opened in September 2017, and the approximately 252,000 sq ft campus will be able to accommodate up to 2,400 students aged 3 years old to 18 years old.

Pandora Serviced Residences, the first residential phase in Tropicana Metropark has been completed, and the residents have started to move in since March 2017. The RM500 million Paloma Serviced Residences and Courtyard Villas was launched in 2013 and completed in 2017. It includes a dedicated elevator and 4 parking bays for each unit. The third phase, Paisley Serviced Residences, is under construction and open for sale. It is scheduled for completion in 2021.

Tropicana, best known for its Tropicana Golf and Country Resort in Petaling Jaya, acquired the land in 2011 for RM385.5 million. The entire Tropicana Metropark development is scheduled for completion in 2025. According to the developer, there are many first-time home buyers, upgraders from Subang Jaya, young families, and investors who purchased the residential units.

Address: Subang Hi-tech Industrial Park, 40150 Subang Jaya, Selangor

Property Type: Serviced Residences and Courtyard Villas

Land Title: Commercial

Total Units: 587 units (Tower A: 323 units, Tower B: 248 units) & 16 courtyard villas

Tenure: Freehold

Gallery: No.1, Jalan Delima 1/1, Subang Hi-Tech, 40000 Subang Jaya, Selangor

Gallery GPS Coordinates: N 304.120, E 101 33.794

Year of Completion: 2017

Built-up Area: 609 sq ft, 916 sq ft, 1,259 sq ft, 1,309 sq ft, 2,400 sq ft – 2,674 sq ft

Facilities:

Level 3

  • Waiting lounge
  • Reflective pool

Level 3a Podium

  • Lift access to villas and Central Park
  • Infinity pool
  • Jacuzzi
  • Pool deck
  • Basketball half court
  • Pre-function area
  • Multi-purpose hall
  • Floating pavilion
  • Games room
  • Meeting room
  • Stone garden
  • Lawn
  • Lookout pavilion
  • Sanctuary pool
  • Wading pool
  • Children’s playground
  • Social terrace

Level 30 Rooftop

  • Sky gymnasium
  • Bubble tub
  • Sky lounge
  • Reading corner

Launch Price: From RM650,000

Launch price per sq ft: From RM800 psf

Maintenance fee per sq ft: RM0.30 psf

Awards:

  • PropertyGuru Asia Property Awards (Malaysia) 2017 – Best Mixed Use Development 
  • Asia Pacific Property Awards 2014 – Landscape architecture category
  • Asia Pacific Property Awards 2013 – Best mixed-use development category

Project Details

Nestled within the enclave of Tropicana Metropark, Paloma Serviced Residences and Courtyard Villas comprise 2 serviced residential towers, and duplex courtyard villas. The development is designed with a slanted setting to ensure unobstructed view of the Central Park.

Paloma Serviced Residences and Courtyard Villas comprises 587 units. Tower A has 323 units, while Tower B has 248 units, and there are 16 courtyard villas. The 30-storey Paloma Serviced Residences, has a GDV of RM465 million and built-ups range from 609 sq ft to 1,309 sq ft. They were sold at more than RM750 psf.

This development meets the needs of different market segments with its 609 sq ft studios which are suitable for single professionals, 916 sq ft two-bedroom units that are ideal for young couples or small families, and 1,259 sq ft to 1,309 sq ft three-bedroom units for larger families. 

Sky Gym at Level 30

Residents will be able to enjoy the facilities at Level 3a and Level 30 rooftop. These include the infinity pool, sanctuary pool, Jacuzzi, yoga deck, barbeque area, sky gymnasium, rooftop garden, stone gardens, fragrant spa gardens, basketball court, and many more.

Additionally, residents will be able to enjoy a panoramic view of the 9.2-acre Central Park, and residents’ car park bays are fully covered.

Unit Types

Built-Up

Launch Price

Dec 2013

Type A

  • Studio
  • 609 sq ft

 

 

 

 

 

From RM650,000

Type B

  • 916 sq ft
  • 2 bedrooms 

Type C

  • 1,259 sq ft
  • 3 bedrooms 

Type C1

  • 1,309 sq ft
  • 3 bedrooms 

Courtyard Villas

2,400 sq ft – 2,674 sq ft

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Location

Tropicana Metropark is a self-sustained satellite township that is complemented by educational, medical, commercial, and public infrastructure. It is located approximately 30 minutes from the Kuala Lumpur city centre (KLCC), and it is neighbours with established township such as USJ Heights, USJ, and Subang Jaya.

In terms of accessibility, the development enjoys direct access from the Federal Highway via the purpose-built RM106 million Metropark-Subang Link. The 1.6km flyover also serves residents of Subang Jaya, USJ and neighbouring areas, where they can enjoy a shortened 2.5km distance, and a reduction in daily travel time. The link goes all the way to USJ 3.

The 1.6km flyover also serves residents of Subang Jaya, USJ and neighbouring areas, where they can enjoy a shortened 2.5km distance, and a reduction in daily travel time.

The development will also be served by a network of highways and expressways, including Federal Highway, Shah Alam Expressway (KESAS), Kemuning-Shah Alam Highway (LKSA), Guthrie Corridor Expressway (GCE), New Klang Valley Expressway (NKVE), and Damansara-Puchong Expressway (LDP).

The development is also connected to Persiaran Jubli Perak, and easily accessible via ELITE Highway and Federal Highway. Additionally, the Batu Tiga and Subang Jaya KTM stations are just 5 to 10 minutes away.

Paloma Serviced Residences and Courtyard Villas are surrounded by various amenities and facilities, such as Subang Parade, Empire Shopping Gallery, and Tesco Extra Shah Alam. There are a number of schools and higher learning institutions close by, including Lick Hung Chinese Primary school, SS19 Subang Jaya National School, Inti College, Metropolitan College, Sunway University, Monash University, and Taylor’s Lakeside University College.

Tropicana Metropark is a self-sustained satellite township that is complemented by educational, medical, commercial, and public infrastructure.

GEMS International School is located within Tropicana Metropark and enrolment began in September 2017, to serve up to 2,400 students aged between 3 to 18 years old.

Accessibility

  • Federal Highway
  • Metropark-Subang Link
  • Shah Alam Expressway (KESAS)
  • Kemuning-Shah Alam Highway (LKSA)
  • Guthrie Corridor Expressway (GCE)
  • New Klang Valley Expressway (NKVE)
  • Damansara-Puchong Expressway (LDP)
  • ELITE Highway
  • Batu Tiga KTM station
  • Subang Jaya KTM station

Education

  • GEMS International School
  • Fairview International School
  • Management & Science University (MSU) 
  • Inti International College Subang
  • Metropolitan College 
  • Sunway University
  • Monash University
  • SEGI College
  • Taylor’s Lakeside University College
  • Sri Emas International School
  • Japanese School of Kuala Lumpur
  • University Teknologi MARA
  • Lick Hung Chinese primary school
  • SS19 Subang Jaya national school

Medical Care

  • KPJ Specialist Selangor Hospital
  • Sime Darby Medical Centre
  • Sunway Medical Centre
  • DEMC Specialist Hospital
  • Columbia Hospital Bukit Rimau
  • Assunta Hospital PJ
  • Ara Damansara Medical Centre

Shopping

  • Tesco Extra Shah Alam
  • Tesco Shah Alam
  • SACC Mall
  • Empire Shopping Gallery
  • Subang Parade
  • Sunway Pyramid
  • AEON Big Hypermarket
  • Summit Shopping Mall
  • Citta Mall

Recreation

  • Glenmarie Golf & Country Club
  • Saujana Golf & Country Club
  • Stadium Shah Alam
  • Shah Alam Convention Centre (SACC)
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Analysis

Prices for the serviced residences in Tropicana Metropark is at an average of RM800 psf. This is considered steep, but it has the appeal of low-density going for it. Each of the high-rise developments feature only 2 blocks, with views of either the facilities, the park, or the highway.

Based on listings in PropertyGuru in July 2019, the approximate gross rental yield of Paloma is around 4.25%, compared to 3.67% in Q3 2018. The highest rental yield thus far was 4.25% in Q3 2019; while the lowest rental yield was 2.88% in Q2 2018. As at July 2019, the listed price for the 916 sq ft unit range from RM540,000 to RM828,000, while rental is from RM1,600 to RM2,500.

Tropicana Metropark is a self-sustained satellite township that is complemented by educational, medical, commercial, and public infrastructure.

Here’s a quick review of serviced residences within Tropicana Metropark.

Project

Land Tenure

Unit Type

Completion

Built-up

Approximate Launch Price

Paloma at Tropicana Metropark

Freehold

Serviced Residence

2017

609 sq ft – 1,309 sq ft

From RM650,000 / RM700 – RM900psf

 

Pandora at Tropicana Metropark

Freehold

Serviced Residence

2017

596 sq ft – 2,969 sq ft

 

From RM500,000 /  RM600 – RM800psf

Paisley at Tropicana Metropark

Freehold

Serviced Residence

2021

601 sq ft– 1,491 sq ft

 

From RM528,000 / average of RM840 psf

 

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Summary

Tropicana Metropark is a project that is desired due to the developer’s reputation, the strategic location, and thoughtful planning. However, many opine that the residential units are overpriced. That said, it should not be much of a major surprise as several projects from this developer tend to be priced higher than average.

The general consensus is that this project should be successful and will be another feather in the hat for Tropicana Corporation. Their other successes include Tropicana 218 Macalister in Penang, Tropicana Avenue in PJ, and Tropicana Danga Bay in Iskandar, among many others.

If you are interested in a 916 sq ft unit at Paloma Serviced Residence that is priced at RM750,000, the monthly repayment would be approximately RM3,340. This is based on a 30-year 90% LTV loan of RM675,000 with an interest rate of 4.3%.

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Eric Wong

Pavither

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