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Continue Reading ⋅ 30 January 2023
Tropicana Avenue is a mixed commercial hub by Tropicana Corporation Berhad. It fronts the bustling Persiaran Tropicana, and is right opposite Casa Tropicana condominium. It was launched in early 2012 and completed in 2015.
The development sits on 5.73 acres of land, and it features a mix of business, dining and entertainment under one roof. Tropicana Avenue has a gross development value (GDV) of RM210 million, and it comprises 359 lifestyle corporate suites and 38 loft offices sitting on top of 45 retail lots on 2 floors.
Address: Off Jalan Tropicana Utara, Tropicana, 47410, Selangor
Property Type: Mixed Development
Land Title: Commercial
No. of Floors: 38
Total Units: 453 serviced residence, 210 offices, 62 shop-offices
Tenure: Leasehold
Year of Completion: 2015
Built-up Area:
- 660 sq ft – 1,621 sq ft (Residence)
- 685 sq ft – 1,180 sq ft (Office)
Facilities:
- Gymnasium
- Function room
- Children’s playground
- Tennis court
Launch Price: N/A
Launch Price Per Sq Ft: From RM600 psf (residential units)
Awards:
The developer, Tropicana Corporation has won multiple property accolades during the PropertyGuru Asia Property Awards (Malaysia) 2020 event such as:
- Winner: Best Developer
- Highly Commended: Best Mega Township Developer for Tropicana Aman development
- Winner: Special Recognition for ESG (Environmental, Social, Governance)
Project Details
Tropicana Avenue is a leasehold integrated office, residential and retail hub located in Tropicana, Petaling Jaya. There are 453 apartment units, 210 offices and 62 shop-offices, with built-ups ranging from 660 sq ft to 1,621 sq ft for the residential units, and 685 sq ft to 1,180 sq ft for the offices. The development was completed around 2015.
Tropicana Avenue features a retail strip on the ground floor, while strata offices are on the upper floors. The retail outlet strip faces the F&B area and there are escalators to bring shoppers to the first floor. Sizes for the retail lots are from 1,150 sq ft to 3,077 sq ft. To date, a myriad of eateries, gyms, bookstore, grocers, clinic, beauty centre, and more, have set up here. This provides much convenience to the tenants and residents.
Key features:
- Well connected to major highways and expressways such as New Klang Valley Expressway (NKVE), SPRINT Expressway, and Damansara–Puchong Expressway (LDP)
- Retail shops, office suites and serviced residences
- Gymnasium
- Function room
- Children’s playground
- Tennis court
- 24-hr security
The development offers resort-style landscape and its strategic location offers ease of access through several main highways.
Location
In terms of accessibility, Tropicana Avenue is connected via Persiaran Tropicana which will leads motorists straight to Lebuh Bandar Utama. It also has easy connectivity to Persiaran Surian via Persiaran Damansara Indah, New Klang Valley Expressway (NKVE) via Jalan Tropicana Selatan, SPRINT Highway and Damansara-Puchong Highway (LDP) via Taman Bukit Mayang Emas.
The following neighbourhoods are within a 5km radius:
- Tropicana Indah Resort Homes
- Kota Damansara
- Taman Tun Dr. Ismail
- Bandar Utama
- Damansara Jaya
- Damansara Utama
Accessibility
- Persiaran Tropicana
- Lebuh Bandar Utama
- Persiaran Surian
- Persiaran Damansara Indah
- New Klang Valley Expressway (NKVE)
- Jalan Tropicana Selatan
- SPRINT Highway
- Damansara-Puchong Highway (LDP)
Education
- Putra Business School
- SJK (C) Damansara
- SK Tropicana
- SMK Tropicana
- SMK Bandar Utama Damansara 2
- SRK Bandar Utama
- SJK (C) Puay Chai 2
- SMK Damansara Utama 3
- St Joseph’s Institution International School Malaysia (Tropicana PJ Campus)
- SEGi University
- First City University College
- UOW Malaysia KDU College Damansara Jaya
- HELP University
- Asia Pacific Int. School (APIS)
- Sri KDU International School
- MSU
Medical Care
- Thomson Medical Centre
- Tropicana Medical Centre
- KPJ Damansara Specialist Hospital
Shopping
- Centrepoint Bandar Utama
- Atria Shopping Gallery
- 1 Utama Shopping Centre
- Starling Mall
- Damansara Uptown
- Glo Damansara Mall
- The Curve
- 3 Damansara
- IPC Shopping Centre
- Tesco Mutiara Damansara
- IKEA
Recreation
- Tropicana Golf & Country Resort
- Central Park Bandar Utama
- Champion Badminton Court
- Ara Court Badminton Hall
- Central Park Bandar Utama
- Bandar Utama Golf Course
- The Club Bukit Utama
- Mutiara Damansara Recreational Park
- Tropicana Golf & Country Resort
- TPC (Tournament Players Club)
Analysis
Everything that residents need is just a short drive away, or they can just take the lift down to settle their daily needs. Plus, Tropicana Avenue is surrounded by a ready catchment of higher-end residential developments.
There’s also heavy traffic (more so, during peak drive hours) at the tunnel before Tropicana Golf & Country Resort, so residents will have to be patient if they are using those roads.
There is constant potential as the population is dense, and as evidenced by neighbouring commercial areas such as Aman Suria, Dataran Prima and SunwayMas Commercial Centre, and Kota Damansara, these areas are usually crowded.
Here’s a look at residential properties in Petaling Jaya.
|
Project |
Land Tenure |
Unit Type |
Completion |
Built-up |
Approximate Launch Price |
|
Tropicana Avenue by Tropicana Corporation Berhad |
Leasehold |
Serviced Residence |
2015 |
660 sq ft – 1,621 sq ft |
N/A |
|
Tropicana Grande by Tropicana Corporation Berhad |
Leasehold |
Condominium |
2012 |
2,283 sq ft – 6,602 sq ft |
From RM1.5 million |
|
Leasehold |
Serviced Residences |
2019 |
862 sq ft – 2,218 sq ft
|
From RM 857,650
|
|
|
The Arcuz @ Kelana Jaya by Exsim |
Leasehold |
Serviced Apartment |
2022 |
753 sq ft – 978 sq ft
|
From RM681,500 |
|
Freehold |
Serviced Apartment |
2022 |
From 922 sq ft |
From RM708,000 |
|
|
Leasehold |
SoHo / Serviced Apartment |
2023 |
450 sq ft & 750 sq ft |
From RM318,000 |
|
|
Leasehold |
Serviced Apartment |
2021 |
678 sq ft – 990 sq ft
|
From RM550,000 |
Summary
In terms of location, you can’t go wrong with Tropicana Avenue. It represents lifestyle living with its 3 blocks of residential, corporate office and retail lots. Plus, it is flanked by well-established and matured townships of Bandar Utama, Kota Damansara, and Ara Damansara.
At January 2021, the 660 sq ft units are listed for sale between RM560,000 and RM669,000 on PropertyGuru. Here are some estimated loan figures for a 660 sq ft unit priced at RM600,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM66,000
- Loan amount: RM594,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM2,569
- Approximate required gross annual income: RM103,000*
These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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