KUALA LUMPUR: Property developer Tropicana Corp Bhd has acquired a piece of land in Gohtong Jaya, Genting Highlands from Marivaux Holdings Sdn Bhd for RM78.3 million.
The 112 acres of land is situated at 3,000 feet above sea level in Pahang.
Tropicana is tapping on the growth potential of this land by developing a resort-type development for people who desire the resort-type lifestyle, surrounded by lots of greenery and fresh air.
This acquisition and future development in the piece of land is expected to generate sustainable income for the company.
The acquisition will be funded by cash and bank borrowings.
Tropicana’s existing healthy cash flow has been strengthened by the recent disposal of its non-core assets from land located at Jalan Sultan Ismail and Bukit Bintang in Kuala Lumpur, and Damansara Intan in Petaling Jaya.
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