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Continue Reading ⋅ 30 January 2023
Tropicana Gardens is a 17.6-acre mixed-use development by Tropicana Corporation Berhad. It is located in the mature area of Kota Damansara, fronting Persiaran Surian, and it comprises serviced apartments, an office block, and a 7-storey mall.
This leasehold development started in October 2012, and it has a gross development value (GDV) of almost RM3 billion. The residential towers are named Arnica, Bayberry, Cyperus, Dianthus, and Edelweiss, while the mall is called Tropicana Gardens Mall.
Key features of this development include the following:
- Quick access to Surian MRT station
- Near Seri Selangor Golf Course
- 1 million square feet shopping mall at residents’ doorstep
- Inter-linked facilities deck
- Mature township of Kota Damansara
- Near popular malls such as Sunway Giza, IKEA, and The Curve
Tropicana Gardens Mall has about 1 million sq ft net lettable area, and more tenants are expected to open by July 2021, which would increase the number of tenants to 62%. Malaysia’s biggest Starbucks Reserve is located on the ground floor, and it opened in March 2021.
There’ll be about 300 stores, and the mall is expected to hit an 80 per cent take-up rate and higher occupancy. As at March 2021, the shopping mall’s traffic is about 200,000 a month and the mall’s management is aiming to achieve 500,000 by the end of 2021 as they see the market improving.
Address: Persiaran Surian, 47810 Selangor
Developer: Tropicana Corporation Berhad
Property Type: Mixed development
Land Area: 17.6 acres
Land Title: Mixed
No. of Blocks: 5
No. of Storeys: 35
Total Units:
- Dianthus:
- Cyperus
- Bayberry
- Arnica: 336
- Edelweiss
Tenure: Leasehold
Sales Gallery: No. 2A, Persiaran Surian, Tropicana Indah, 47810 Petaling Jaya, Selangor
Year of Completion: 2024
Built-up Area: 452 sq ft – 2,724 sq ft
Facilities:
- Basketball half court
- Exercise station
- Landscaped garden
- Leisure pool
- Hammock pool
- Children’s pool
- Swimming pool
- Jacuzzi
- Yoga deck
- Barbeque & viewing terrace
- Oasis pool
- Multi-purpose room / party deck space
- Preparation area
- Prayer rooms
- Playground
- Children’s playroom space
- Changing rooms
- Pool side lounge space
- Jogging path
Launch Price: From RM438,000
Awards:
- Asia Pacific Property Awards – 5-Star Best Retail Development Malaysia (2014 – 2015)
- PropertyGuru Asia Property Awards (Malaysia) 2017 – Best Green Development
Project Details
Tropicana Gardens is located between Kota Damansara and Tropicana Indah. There are 5 towers, and they are all named after flowers, and in alphabetical sequence, no less.
Serviced residences at Tropicana Gardens has been designed to cater to the lifestyle needs of young executives, urbanites, young families, and empty nesters. It was launched in September 2020, and expected to complete in 2024.
Following the success of the first 4 towers at the award-winning Tropicana Gardens, the developers listened to feedback from current and potential customers, and where possible, they integrated it into Edelweiss to ensure that it provides both modern vibes and a quiet place for residents.
Tropicana Gardens is strategically located amidst the convenient, easily accessible and established neighbourhoods of Tropicana Indah and Kota Damansara.
It has a GreenRE accreditation silver rating, and the overall building is categorised as a green building with energy-efficient features in its daily operations such as indoor temperature maintenance, water efficient fittings, low-emissivity glass that reduces infrared, and landscaped roof gardens with a rainwater harvesting system.
Residents of Tropicana Gardens can access the mall directly via a lift. Tropicana Gardens Malls was launched in March 2020. However, due to the Movement Control Order (MCO), only essential outlets like Village Grocer and pharmacies opened, but no fit-outs were allowed.
|
Components |
Overview |
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Edelweiss SOFO and serviced residences |
· 2.35 acres · GDV of RM855 million · 52 storeys · Total of 1,027 units · 630 units of serviced residences · 397 units of SOFOs · Serviced residences: 556 sq ft – 1,111 sq ft · SOFOs: 452 sq ft – 858 sq ft · From RM438,000 · Launched in 2020 · Expected completion: 2024 |
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· 30 storeys · 271 units · 440 parking bays · 601 sq ft – 1,406 sq ft · Views: Kota Damansara or Seri Selangor Golf Club · Launched: 2016 · Completed: 2020 · From RM650,000 |
|
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· 39 storeys · 406 units · 600 sq ft – 1,404 sq ft · Views: Persiaran Surian or Seri Selangor Golf Club · Launched: End 2014 · Completed: 2018 · From RM650,000 |
|
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Bayberry serviced residences |
· 45 storeys · 413 units · 597 sq ft – 1,573 sq ft · Launched: 2013 · Completed: 2017 · From RM650,000 |
|
Arnica serviced residences |
· 35 storeys · 336 units · 598 sq ft – 2,724 sq ft · Launched: 2012 · Completed: 2016 · From RM500,000 |
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Tropicana Gardens Mall |
· Net lettable area of about 1 million sq ft · About 3,000 parking bays · Opened March 2020 · 50,000 sq ft convention centre / event space |
Location
In terms of accessibility Tropicana Gardens is connected to several major highways, such as the Damansara-Puchong Expressway (LDP), Sprint Expressway, New Klang Valley Expressway (NKVE), and Penchala Link.
The Surian MRT station that runs along Persiaran Surian started operations in November 2016, and it is connected to the shopping mall via a designated elevated pedestrian bridge, further enhancing connectivity to other parts of the Klang Valley.
Residents can take a short lift ride down to Tropicana Gardens Mall, or take a stroll to the Surian MRT Station and then venture to PJ or KL, minus the hassle of driving or looking for a car park.
In terms of amenities, these are close to Tropicana Gardens – St Joseph’s Institution International School Malaysia, SEGi University, Seri Selangor Golf Club, Tropicana Golf & Country Resort, Thomson Medical Centre, as 1 Utama, The Curve, Sunway Giza, IKEA, and Tropicana Avenue.
Accessibility
- Persiaran Damansara Indah
- Persiaran Tropicana
- Persiaran Surian
- New Klang Valley Expressway (NKVE)
- Jalan Tropicana Selatan
- SPRINT Highway
- Damansara-Puchong Highway (LDP)
- Lebuh Bandar Utama
- Surian MRT station
Education
- 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 University College Damansara Jaya
- Asia Pacific Int. School (APIS)
- Sri KDU International School
- Help International School
- Twintech International University College of Technology
Medical Care
- Thomson Medical Centre
- Tropicana Medical Centre
- KPJ Damansara Specialist Hospital
Shopping
- Tropicana Gardens Mall
- Sunway Giza Mall
- Strand Mall
- Sunway Nexis
- Tropicana Avenue shop lots
- The Curve
- IPC Shopping Centre
- Lotuss (Tesco) Mutiara Damansara
- IKEA Damansara
- 1 Utama Shopping Centre
- Centrepoint Bandar Utama
- Atria Shopping Gallery
- Starling Mall
- Damansara Uptown shop lots
- Glo Damansara Mall
- 3 Damansara
Recreation
- Seri Selangor Golf Club
- Tropicana Golf & Country Resort
- TPC (formerly known as Kuala Lumpur Golf & Country Club)
- 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
Analysis
The demographic within a 15-minute drive of Tropicana Gardens is the middle to upper-middle income group, and townships close to the development include Sunway Damansara, Bandar Utama, Taman Tun Dr Ismail, Kelana Jaya, and Petaling Jaya.
In addition to choosing properties at strategic locations, properties that have access to well-established neighbourhoods, good facilities, amenities and connectivity are important.
Tropicana Gardens checks all the boxes, and that could lead to increased capital appreciation in the near future. Purchasers have benefitted from campaigns that ran alongside the various launches. Do take a look at the developer’s social media pages or website for the latest campaigns.
Available listings in PropertyGuru in April 2021 show that the asking monthly rental for 605 sq ft Dianthus units are RM1,800 to RM2,100. So if you purchased a unit at RM700,000 the approximate gross rental yield is as below:
- Purchase price: RM700,000
- Rent out: RM2,200 per month
- Gross rental yield: About 77% per annum
Here’s a look at residential properties relatively close to Tropicana Gardens.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Tropicana Gardens Dianthus by Tropicana Corporation Berhad |
Leasehold |
Serviced Residence |
2020 |
601 sq ft – 1,406 sq ft
|
From RM650,000 |
|
Tropicana Grande by Tropicana Corporation Berhad |
Leasehold |
Condominium |
2013 |
2,283 sq ft – 6,602 sq ft |
From RM1.3 million |
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1 Bukit Utama by Bandar Utama Development Sdn Bhd |
Freehold |
Condominium |
2005 |
1,981 sq ft – 2,000 sq ft |
From RM950,000 |
|
Casa Tropicana Block E by Tropicana Corporation Berhad |
Leasehold |
Condominium |
2013 |
985 sq ft – 1,478 sq ft |
About RM420 psf |
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The Effingham by Bandar Utama Development |
Freehold |
Zero-lot Bungalow |
2013 |
5,654 sq ft – 10,753 sq ft |
From RM4.3 million |
|
Uptown Residences by See Hoy Chan Group |
Freehold |
Serviced Apartment |
2014 |
734 sq ft – 6,548 sq ft |
From RM584,000 |
|
Tropicana Avenue by Tropicana Corporation Berhad |
Leasehold |
Serviced Residence |
2015 |
660 sq ft – 1,621 sq ft |
N/A |
|
Leasehold |
Serviced Residences |
2019 |
862 sq ft – 2,218 sq ft
|
From RM857,650
|
|
|
Leasehold |
Serviced Apartment |
2021 |
678 sq ft – 990 sq ft
|
From RM550,000 |
|
|
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 |
On a separate note, a fire broke out at the construction in November 2017. It was reported that it was away from the completed residential towers.
Summary
Tropicana Gardens is conveniently located along Persiaran Surian and nestled in an affluent neighbourhood, with multiple access points from either Persiaran Surian or through Persiaran Tropicana. While short-term growth prospects will remain subdued, there could still be pent-up demand for well-planned properties in strategic locations such as Tropicana Gardens.
With the various stimulus measures rolled out by the government, the developer has urged those who can afford to take advantage of the attractive packages and low-interest rates.
If you’re interested in a 605 sq ft unit at Tropicana Gardens Dianthus that’s priced at RM700,000, here are its estimated loan figures.
- LTV / margin of finance: 90%
- Down payment (10%): RM70,000
- Loan amount: RM630,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM2,725
- Approximate required gross annual income: RM93,500*
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* Assumptions: No other monthly debt obligations, and 30% of gross income spent on the home loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
The award-winning developer
Tropicana Corporation Berhad is well known in the property industry, and they have won multiple awards over the years. Tropicana Gardens have garnered several awards, and so have several of Tropicana Corporation Berhad’s other developments. At the PropertyGuru Asia Property Awards (Malaysia) 2020, Tropicana Corporation Berhad continued with its award-winning streak:
- Best Developer
- Winner: Best High End Condo Development (Central) – Tropicana Grandhill
- High Commended: Best Mega Township Developer – Tropicana Aman
- Winner: Best Landed Development (Central) For Tropicana Aman – Dalia Residences
- Winner: Best Mid End Landed Development (Southern) – Ayera Residences
- Winner: Best Development Development – Courtyard by Marriott, Penang @ Tropicana 218 Macalister
- Winner: Best Mixed Use Development – Tropicana Gardens
- Highly Commended: Best Retail Development – Oasis 3
- Highly Commended: Best Housing Architectural Design – Ayera Residences
- Winner: Best Condo Development (Malaysia) – Tropicana Grandhill
- Winner: Special Recognition for ESG (Environmental, Social, Governance)
- Winner: Special Recognition for CSR (Corporate Social Responsibility)
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