Petaling Jaya (26 August 2024) – Tropicana Firstwide Sdn Bhd (TFSB), a wholly-owned subsidiary of Tropicana Corporation Berhad (Tropicana), has successfully signed a Sale and Purchase Agreement with indirect subsidiaries of NTT Data Group. The agreement involves the sale of 68.457 acres of prime freehold land in Gelang Patah, Johor Bahru, valued at RM383 million. This landmark deal underscores Tropicana’s agility in seizing opportunities within Malaysia’s rapidly growing digital economy.
The NTT Data Group, a leading Japanese multinational in information technology services and consulting, will leverage this strategic location to develop a cutting-edge data centre, contributing to Malaysia’s vision of becoming a global destination for data centre operators. Tropicana’s management emphasized the state’s growing appeal:
“Johor has attracted more than 50 data centres within the last two years thanks to its strong push towards the digital economy, enabled by robust government policies, as well as good connectivity and infrastructure. Johor is experiencing an exciting time and the rapid growth in the digital industry suggests that it is well on its way to becoming a new data centre hub in Southeast Asia. To this note, we are thrilled to enter into this sale & purchase agreement with NTT Data Group.”
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Johor’s Rise as a Digital Economy Powerhouse
Johor Bahru, the vibrant southern gateway of Malaysia, has increasingly become a focal point for foreign investments, particularly in the digital and technology sectors. In 2023 alone, the state secured an impressive RM63.9 billion in foreign investments, bolstering its reputation as Malaysia’s next economic powerhouse. With the government’s ongoing efforts to streamline digital infrastructure and talent development, Johor is well-positioned to become a significant hub for data centres and other tech-driven enterprises.
Tropicana Corporation’s robust landbank in Johor aligns with these trends, enabling the company to play a pivotal role in this transformation.
“We support Malaysia’s vision to become a global destination for data centre operators to the world’s largest technology companies. With Tropicana’s strong presence and sizeable landbank in Johor, we can play an effective role for data centre operators by offering strategic lands with good infrastructure facilities such as electricity, water, and accessibility. We welcome data centre operators or MNCs to partner with us.”
Expanding Horizons: Tropicana’s Future Developments
In addition to this landmark sale, Tropicana Corporation has ambitious plans to develop two significant townships in Johor: Lido Waterfront Boulevard in Johor City Centre and Tropicana Uplands in Gelang Patah. These developments are projected to bring in a staggering Gross Development Value (GDV) of over RM35 billion.
Lido Waterfront Boulevard, located on 163 acres of reclaimed land, will feature a mix of healthcare, medical tourism, hospitality, and lifestyle offerings, set against the scenic backdrop of the Johor Straits. Meanwhile, Tropicana Uplands, a 314-acre sustainable township, will offer residential and commercial spaces designed to promote green living and sustainability, all strategically located near key transportation hubs and attractions.
With these developments, Tropicana Corporation is poised to reinforce its market presence and contribute to the region’s dynamic growth.For more details on Tropicana’s developments, visit www.tropicanacorp.com.my.
