“Tropicana will soft-launch Lido Waterfront Boulevard and Fraser Hills in Johor, while partnering with NTT GDC on a data center project in Gelang Patah.”
Kuala Lumpur, 26th Aug 2024, 10.28am – Tropicana Corporation Bhd (Tropicana) is set to soft-launch two major developments in Johor in the coming months—Lido Waterfront Boulevard in Johor City Centre and Fraser Hills in Tropicana Uplands, Gelang Patah.
The announcement was made today during an event celebrating the sale and purchase agreement between Tropicana Firstwide Sdn Bhd (TFSB), a wholly-owned subsidiary of Tropicana, and NTT GDC Malaysia, an indirect subsidiary of Japan’s NTT Data Group, for the sale of a freehold land parcel in Gelang Patah, Johor Bahru.
Tropicana managing director Ixora Ang highlighted in her presentation that since the announcement of the Johor-Singapore Special Economic Zone (JS-SEZ) in January 2024, there has been a notable increase in property demand across various sectors, particularly in residential and commercial properties. This surge is evident from the rise in residential transaction volumes and higher rental values for purpose-built offices, which will be incorporated into Tropicana’s new developments.
Lido Waterfront Boulevard (Lido) is a freehold, integrated mixed-use development planned on 163 acres of reclaimed land along the Johor City Centre waterfront, facing Singapore. The development has a gross development value (GDV) of RM34 billion, with its first phase, The Watermark residence, set to be soft-launched around the fourth quarter of 2024. The Watermark will be situated within a 7–10 minute drive from the Bukit Chagar Station of the Johor Bahru–Singapore Rapid Transit System (RTS) line.
Tropicana Uplands will be a 314-acre sustainable freehold township, conveniently located just 15–20 minutes from both the Malaysia-Singapore Second Link Expressway and Senai International Airport.
Regarding the sale of 68.457 acres of freehold land in Gelang Patah to NTT GDC for RM383 million, the land will be used to develop a data center.
“Johor is witnessing significant growth in its digital industry. We support Malaysia’s ambition to become a global hub for data center operators serving the world’s largest tech companies,” said Tropicana in a joint statement with NTT GDC.
“This agreement represents more than just a deal; it’s a partnership. We share a unified vision with our valued partner, NTT Data—a vision where technology empowers, connects, and advances both communities and businesses.
In today’s digital age, the role of data centers is critical. They ensure the seamless and secure flow of data, supporting the innovations that impact every aspect of our lives and society,” said Tropicana CEO Ong Chou Wen during his opening remarks at the event held today at Tropicana Golf & Country Resort.
Tropicana aims to further expand its footprint in the Iskandar Malaysia region by leveraging its remaining landbank.
“Tropicana already has a significant presence in Johor, with nearly 1,000 acres of additional landbank in the area, ready for various developments, including data centers and mixed-use projects. This includes strategically located land near our T Industrial Park in Pontian, as well as in the Gelang Patah area,” said Ong.
