KUALA LUMPUR: IOI Properties Group Bhd is acquiring Tropicana Gardens Mall in Petaling Jaya for RM680 million.

The seven-storey Tropicana Gardens Mall has a total gross floor area of 2.95 million square feet and a net lettable area (NLA) of 1.05 million square feet with an occupancy rate of 77 per cent.

The mall is connected directly to Surian MRT station and it is accessible via four major highways.

The company said the acquisition aligns with its growth strategy and enhances its footprint in the retail sector.

The acquisition will expand IOI Properties' mall operations within the Klang Valley region, complementing its two existing malls in the area namely IOI Mall Puchong and IOI City Mall, Putrajaya, currently the largest mall in the country at 2.5 million square feet NLA.

The other two malls listed in its property investment segment are IOI Mall Kulai at 264,000 NLA and IOI Mall Xiamen, China at 639,000 NLA.

The group's total retail NLA will balloon to 5.4 million square feet with the addition of Tropicana Gardens Mall.

"The group believes that it will provide a strong recurring income as it follows the successful model of IOI Malls and leveraging onits brand in providing a vibrant lifestyle experience filled with dynamic offerings," said group chief executive officer Lee Yeow Seng in a statement.

The company also completed two major acquisitions namely the 150-room W Kuala Lumpur for RM270 million and the 199-room Courtyard by Marriott Penang for RM165 million.

These two hotels will add 349 room keys to the existing 2,355 (including the joint-ventured JW Marriott Hotel Singapore), totaling 2,704 room keys of all eight hotels under the IOI Properties's hospitality & leisure segment.

IOI Properties said the acquisition of the freehold land in Pantai Kok, Langkawi at RM90.1 million is intended for a proposed hotel development

Tropicana is a really good seller lol

quite a nice mall. but they are missing the crowd

Forced sale ke? Tropicana no money till need to selll it's HQ mall... 2nd mall attempt failure after 3 Damansara..

last time when launched so many promo. now diam.
office hour got ppl lah, then like...krik krik

that mall is kinda dead and quiet, even on weekend it is quiet, it's nice though, less crowded means you can bring your kids go explore but some shops closed, like don don donki closed, kesian

People in the property development sector would had known that Tropicana has not been doing well lately.

Yawor..maybe IOI can replicate IOI City Mall. That mall got good crowd and shops to walk around.

they tried to compete with 1U and starlings but well...

don don donki also the fad gone already..if u go to sunway pyramid branch also like meh...

Wow i thought W Hotel would be more expensive than the selling price

and yet keep launching projects condo with mini mall

I'm shocked that Starling still stands

I would have thought he kantoi first before Tropicana

Its something that property developers had been marketing lately to sell such small units with imprisoned lifestyle to the masses in order to make money while further degrade society.

remember that placed used to be abandoned back in the 90s? take years to be completed

Yes , can see they selling their assets here and there

imprisoned lifestyle. somehow these sheeps die die buy those kind of pricey housing. i mean, brainwashed nicely until kenot think properly.

KD area mall mostly struggling for traffic.

starling mall is right in the middle of offices and shoplots, many executives go there yamcha talk business, it's also alot smaller than Gardens tropicana, making navigating there easier.

Although Garden is situated in a very good area (got MRT, got sunway GIZA, Nexus, dataran sunway shoplots) it's like on the other side of the road, people rarely walk over to Gardens if they can get all the amenities around Giza shoplot area, also that road is always jam as hell.

Starling food court sells vavi...
Lots of old ppl there support...
Unker also go there every week...

many dont realized that the co is owned by vincent tan brother

yup , anak anak all spend & bill company , bapak pay all .

Tropicana Gardens Mall struggling to get tenants

Even some parts of Level 1 in this mall is empty without any tenants.

See Hoi Chan cash rich. Their projects mainly built then sell.

Last time they could even afford to leave the land kosong & used as carpark.

Where as Tropicana very cash strapped.

Pantai Cenang project sangkut, Genting project also sangkut. Company need fund injection from Chairman in exchange for shares.

the land is what they want...the mall is the bonus


starling has way way way more crowd than tropicana at any time

nama damansara but lots of lelong.

starlings, that place was like abandoned construction side during late 90s .

what are they gonna do with the land? they surely won't demolish it and rebuild.

the land itself is more valuable than anything
the smart one will go here and there to collect land

for what purpose is for the future to figure out...buy land when it's cheap

Part parking part abandoned or more like cleared, paved and boarded up

Uptown is the hangout place for Kevin23. I bet his insurance agency is there

early days of ioi city mall is pretty much dead too. until the new wing expansion done all, weekday dinner time also crowded like mid valley

Yes internal sources said they not doing well.

Fuuuh he owns an insulance agency ka? No wanler so Kaya.

you dont cb

uptown tarak carpark

the starling carpark is damn good

once parked you can walk around uptown

also jb upcoming

thats why tarak cash in hand
need sell sell sell



sos kicap tarak cukup wang

Tropicana Gardens upstairs pretty empty.
Don Don Donki also left lioa.
The only competition they have are from Sunway Giza and Encorp strand nearby, but still not doing well despite having the Surian MRT station next to it.

3 Damansara got worse after Paradigm, Starling and Atria came about. The new management also not doing much to revive it, except brining in NSK to replace Aeon.

Even GSC also moved out recently.

in the 70s-80s, it was just a rectangle of grassland

surprisingly its very robust so far, one of the more successful "new" malls

prolly cause helped by the shoplots plus office buildings next door

anything managed by that sinkie company conlan7firm upcar

IOI wanna fight with 1U kah?

pavilion DH soon

lunch hour mon-fri still ok due to the corporate towers

weekends, weekdays after 6pm macam ghost town

There are many rumors of how much cash stored by the chairman itself though.

Can't blame people who thought that way, since the material monopoly and brainwashing started by us Chinese (agents agents agents - can see in BBBUUU threads) since 2009.

Looks like ioi is planning to go for a ioireit

agree, sampah traffic really

But but share price climb 30% past six month

another dead mall... tropicana mall v2? IOI kena scammed?

topkek cakap tempat high keras tapi jalan nokharoooom

Giza ok ma. But KD got 5 malls.
Emporis, strand, Nexis, Giza, Tropicana gardens.

It's not fad or anything but rather the pricing

In singapore Don Don doki keep opening new stores

It's cheap in SG, In certain malls b40 like me go there settle lunch ....

In msia even t20 will think twice or thrice to eat at Don Don donki

I agree
starling food court looks comfortable and stylish also

why ah...everytime feels like walking into scamming shop and just walk out

better spend at proper japanese restaurant, fresh lagi

Tapao all tropicana mati mati ko mall at some discounted price..
Rebrand a bit and try to revalue high high..

Sekali tapao with ioicity mall ioi puchong

Do a mega big REIT offering in 2025 2026..

LOL .. good luck with that.

debt too high, so they have to sell properties to reduce gearing

I still remember standing queue for 3 hours plus inside this mall from ground floor to their exhibition hall for the precious covid-19 jab.

Salahan 1U

Tropicana loves to sell malls. Why ah? Not good at managing malls?

yup. cant remember much. but I know the old road to penchala/taman tun was like kampung road.

same thing like sunway lah. who expect those old abandoned mining mines can turned into mega mall like what we now in 2024?

This post has been edited by JimbeamofNRT: Jul 26 2024, 02:17 AM

ioi already offering premium slot for all ioi city mall tenant

Rename ioi mall surian

i used to use that road quite often to go to kepong
it was very nice then
winding road through forest, then got that big granite or marble mine there
can see orang asli by roadside

that was part of bukit lanjan isnt it?

that day I drove by ss17 near shell new village, quite surprised to see those motorcycle repair workshop still there! was still there in the 80s till now

Kepong was my kampung. 30 plus years back going to Kepong from PJ is really like balik kampung.

Pass by some kampongs near Mofaz there, then enter some mountain with forest left and right.

Now Tropicana pay the price for share buyback TOPGLOV back then

Could've used the cash to do more or at least tahan until Kwasa Damansara is up to bring more traffic from surrounding region

But no, ego high, have to protek

So now, 1 by 1 the domino will fall; Unless something like COVID happen again then TOPGLOV soar back to RM20

yes

section 17 never did change after all these years---except one stupid mall in the middle of the pasar pagi area

tbf seventeen mall helps with the parking in that area.

Parking in section 17 is terrible.

IOI save it before it turns into shitty mall

Sorry necro thread.