FUTURE PROOFING OUR BUSINESS 2024 was not without hurdles. Global market volatility, geopolitical risks and inflationary pressures posed significant challenges, but Tropicana’s robust development and marketing strategy, coupled with its diversified investments as well as assets monetisation, ensured sustainable growth. The year 2024 could be best termed as an agile and resilient year for the Group. To continue the growth momentum and to future-proof its businesses, Tropicana will continue to strengthen its stakeholder engagements, focusing on value creation as well as establishing strategic marketing and sales campaigns across its online and o ine platforms. Our townships and operations are centred around our development DNAs and ESG commitments. We will also continue to unlock the value of our landbank through our ongoing strategic divestment plans as well as cost rationalisation exercises aimed at improving the Group’s financial position. The Group believes that the demand for properties in prime locations in Tropicana’s established, mature and developing townships will persist, with attractive pricing and various promotional packages. Further, the Group expects improved sales, especially for its properties in Johor, as a result of the recently signed definitive agreement in relation to the JS-SEZ, RTS link, as well as the positive growth e ects from the possible resuscitation of the High-Speed Rail project. Premised on the expected demand, the Group will continue to launch its properties at strategic locations across the Klang Valley, Genting Highlands and the Northern and Southern Regions. Moving forward, the Group will also continue to launch new phases in its established townships, namely Tropicana Paradise, Tropicana Avalon, Tropicana Cenang, Lido Waterfront Boulevard, Tropicana Uplands and Tropicana Danga Bay. The Group will continue to leverage on its various sales initiatives and marketing campaigns to secure more sales, remaining positive and confident on the long-term prospects of its property development business. At Langkawi, Tropicana Cenang o ers three signature developments, namely Assana Serviced Suites, Merissa Serviced Suites and Clarissa Serviced Suites & Beachwalk Shoppes. All three developments are located at the prime seafront site with direct access to the popular Cenang beach 48 ANNUAL REPORT 2024
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