Tropicana Corporation Berhad has entered into a strategic partnership with Powerchina International Group Limited (PowerChina) to develop Tropicana Paradise in Genting Highlands.
In a statement, the property developer said the memorandum of agreement was inked between its wholly-owned subsidiaries Tropicana Inspirasi Indah Sdn Bhd and Tropicana Inspirasi Impian Sdn Bhd with Powerchina International Group Limited and its wholly-owned subsidiary Sinohydro Corporation (M) Sdn Bhd.
Tropicana’s group chief executive officer Lee Han Ming said that the partnership with PowerChina showed united commitment towards building a sustainable future and Tropicana’s strategic selection of strong partners.
“Our Tropicana team has worked for months to line up this deal and this collaboration signifies our united commitment towards building a sustainable township.
“PowerChina is a global powerhouse and a Fortune 500 company with a strong presence in the construction and engineering industry. With their expertise and construction financing, we are confident PowerChina will bring Tropicana Paradise to the next level,” he said.
The 308-acre Tropicana Paradise is part of Tropicana WindCity, a 596-acre mega master-planned township development sited at Genting Highlands.
The highlight of Tropicana Paradise is an integrated entertainment hub that offers a total of 1.5 million sq ft of entertainment choices and 1 million sq ft of retail options across 38 acres.
Tropicana Paradise is conceptualised to include modern serviced apartments with an emphasis on smaller one- and two-bedroom units, branded residences as well as 4- and 5-star international brand hotels.
PowerChina executive vice president Zhou Jiayi said the vibrant Tropicana WindCity master development will attract a lot of positive interest from both locals and foreign investors.
“We are confident with our engineering and construction expertise together with Tropicana’s master plan, we will certainly build a prominent entertainment and leisure hub of tomorrow at Tropicana Paradise,” he said.
