The Paloma Serviced Residences is part of the second residential phase of Tropicana Metropark, comprising of some 16 villas as well as 571 condominium units housed in two buildings of 29 storeys each. With a Gross Development Value (GDV) of some RM465 million, it’s one of the highlights of the Tropicana Metropark integrated development in Subang Jaya.
Targeted at young families from communities in and around Subang Jaya area, prices start at about RM800+ PSF. This puts the project at a slight premium over comparables in the same area, and definitely on the more expensive side when compared with sub sale properties in Subang Jaya. For a methodology on how to estimate the fair market value, download this guide.
It’s interesting to note that the previous phase (627 units houses in two buildings of 25 storeys each) were launched at RM780 PSF. The take up rate, according to the developer, is at an encouraging 90%.
The units have the configurations as below:-
- 1-bedroom apartments: 600 sq ft
- 2-bedroom apartments: 900 sq ft
- 3-bedroom apartments: 1,300 sq ft
- Courtyard villas: 2,200 to 2,500 sq ft
All units get two parking bays each while the 1-bedroom apartments get one bay.
Paloma Serviced Residences will feature the following facilities:-
- Yoga deck
- Infinity swimming pool
- BBQ area
- Basketball court
- Meditation area
- Lounge deck
- Sky gym
- Public kitchen
- Reading room
- Parking space for bicycles
Pandora Serviced Residences are scheduled to be completed in 2016. The Central Park is to be completed at the same time as well as a planned flyover which connects the artery located after the Batu Tiga tollbooth, linking the development to the Federal Highway.
About Tropicana Metropark
Tropicana Metropark is a mixed development built on top of some 88 acres of premium freehold land in Subang Jaya. Consisting of four commercial and five residential phases, Tropicana Metropark is a major project with a mammoth built-up area of more than 11 million sq ft with an estimated Gross Development Value (GDV) of some RM6.25 billion. Not too shabby.
The highlight of Tropicana Metropark is a nine acre Central Park which features an exquisitely designed waterfront, a pedestrian promenade, playgrounds as well as jogging tracks. The commercial area will contain a medical centre as well as a shopping mall. There are also schools and colleges to be built in the area.
Layout and aesthetics-wise, Tropicana Metropark takes inspiration from developments along Yarra River in Melbourne as well as the retail outlets along Oxford Street in London.
What We Think
We cannot overstate the importance of the reputation of developers especially in the context of Malaysia property. As such, given Tropicana’s quite stellar portfolio (Tropicana 218 Macalister in Penang, Tropicana Avenue in PJ, Tropicana Danga Bay in Iskandar), there’s really no reason to second guess Tropicana Metropark.
Given that mixed or integrated developments are the way to go as far as property projects go in the Klang Valley, Tropicana Metropark has the edge in terms of quality, breadth of choices, freehold status as well as a premium location in Subang Jaya.
We are also quite bullish on the upcoming Tropicana Heights Kajang which offers equality tantalizing commercial and residential options on 200 acres of freehold land in Kajang.