THE real estate landscape in Subang and Shah Alam has changed tremendously over the years and so has the lifestyle of people living there.
Tropicana Corp Bhd is among the developers contributing to the change, with its RM7.2 billion Tropicana Metropark integrated mixed development.
The 35.4ha development sits on prime freehold land in the Subang Hi-Tech Industrial Park and will have, among others, a 3.7ha central park and a new flyover linking it directly to the Federal Highway.
Tropicana, which is best known for its Tropicana Golf and Country Resort in Petaling Jaya, acquired the land in 2011 for RM385.5 million.
It is investing close to RM200 million to build the park, flyover and other infrastructure to enhance the value of the development.
The park is a large green oasis featuring a man-made lake, pedestrian promenade and a food and beverage strip for alfresco indulgence.
The pathways that weave through it are ideal for leisurely walk or jogging, and there is also a bicycle track.
Tropicana Metropark will have five residential towers and four stages of commercial development that include a shopping mall, medical centre and entertainment area.
Every building and unit at Tropicana Metropark will have easy access to the park.
The design concept for Tropicana Metropark was inspired by the world’s most livable city, Melbourne, and its Yarra River with the holistic influences.
The development plan also adopts some international commercial features; hence visitors can experience what it is like on London’s Oxford Street and the streets of Tokyo.
Six years on, major developments are taking place, such as the construction of the central park which is almost completed, two residential projects, namely Paloma Serviced Apartment (Phase 2) and Paisley Serviced Apartment (Phase 3), and the building of the flyover.
The developer has completed and is in the process of handing over the keys to buyers for the first residential project, Pandora Serviced Residences or Phase 1.
GEMS International School is set to open its doors in September to serve up to 2,400 students aged between 3 to 18 years old.
PRICES ON UPTREND
According to Tropicana executive director of marketing and sales, Ung Lay Ting, the prices for the residential units are gradually moving upwards.
She said prices had gone up by double digits since the first residential launch in 2013.
“Prices has definitely gone up from Phase 1 to 3. In fact we have a new database for Phase 3. We launched the first block (Tower A) of Phase 3 with 257 units and sold more than 30 percent in less than three months.
“There were a lot of first time home buyers, upgraders from Subang Jaya, young families and investors who bought the units.
“Phase 3 has a panaromic view of the central park. A lot of people see that the park is ready and the link is almost there from Federal Highway. They waited for the landscape and infrastructure to be ready before coming in to buy,” said Ung.
Phase 3 will have a total of 587 units with built-ups ranging from 601 to 1,491 sq ft.
Prices start from RM528,000 and buyers could choose from 1+1, 2+1 and 3+1 bedroom units with layouts designed to maximise views and natural lighting.
Ung said the second block (Tower B) of Phase 3 was targeted for launch in the third quarter of this year and the prices would be raised slightly.
“We are a developer. We develop and sell. Our Phase 1 and 2 residential projects have progressed very well so we have to move on with the third phase,” she said.
Pandora Serviced Residences was launched in May 2013. It has a gross development value (GDV) of RM365 million and comprises 627 units offering three design options in two 25-storey residential towers - studio, two and three-bedroom - with built-up areas between 600 sq ft and 1,200 sq ft.
The launch price was from RM650 per sq ft (psf) and it has since gone up to above RM700 psf.
Phase 2, the 30-storey Paloma Serviced Residences, has a GDV of RM465 million and comprises Block A and B, offering 587 units, including 16 courtyard villas. The built-ups for the units in the two blocks range from 609 to 1,300 sq ft and they were sold at more than RM750 psf.
All units have been designed to meet the needs of different market segments. The studios are suitable for single professionals, while the two-bedroom unit is ideal for young couples and three-bedrooms for small families.
The villas boast 2,400 to 2,588 sq ft 4+1-bedroom units that are perfect for larger families.
The key features for the residential towers include sky gymnasium, sky lounge, bubble tub, sanctuary pool, jacuzzi, half-sunken basketball court, stone garden, children’s playground, multipurpose hall and floating pavilion.
Ung said Tropicana was preparing to launch a commercial phase in Tropicana Metropark this year.
This is to complement the huge population that is expected early next year.
“We are in the process of handing over the keys for Pandora, which has a total of 627 units, while for Paloma, which has 587 units, we are targeting to hand over by the end of this year.
“This means by early next year there will be around 1,200 units occupied in Pandora and Paloma and that is why we have to move to the commercial phase. We are targeting to launch in the third or fourth quarter of this year shoplots and one office tower,” she said.
Ung said with the completion of the flyover, expected by the end of this year, it would also bring more traffic into the development.
The flyover will not only benefit the residents of Tropicana Metropark, but also the areas of USJ and Subang Jaya.