Adaptability and Agility As the country transitions from the pandemic to endemic phase, the Group is taking on an optimistic view and anticipates our nation’s economy to recover with the property sector expected to revive in tandem as well. We will, however, take into consideration the risks that are still tagged to the pandemic and approach the year ahead with caution. Our unbilled sales of RM1.5 billion as of 31 December 2021 provide earnings visibility and sustainability beyond 2021. We will continue to closely monitor our key performances and maintain stringent costefficiency measures, digital improvements, as well as careful rationalisation of our launches. While growth prospects could remain subdued, we believe that there is still pent-up demand for well-planned developments in strategic locations. As an experienced master planner of integrated developments and townships, we always add a degree of flexibility into our designs as this allows us to adapt and respond to changing customer demands and market trends. Backed by our unique residential, commercial and resort-themed developments in the Central and Southern region as well as our latest “Tropicana Journey Collection” in Genting Highlands and Langkawi, we will leverage on our brand name and DNA to ensure our businesses can weather the cyclical nature of the property market. These two tourist hotspots are Tropicana’s first foray into the hillside and premium beachside development. We are also expanding into landed housing to develop three parcels of land in Ijok, Kuala Selangor. The development, sited in a matured location within Puncak Alam and well-connected, will allow the Group to fortify its position further and contribute positively to future earnings. Innovative Campaigns Spur Growth In ensuring continued market traction, the Tropicana 100 campaign was launched in January 2021, following the huge success of the Tropicana 10-TEN campaign in 2020, which recorded an impressive RM899 million in bookings. The Tropicana 100 invited buyers to experience 100% art of living – redefining the way they live, learn, work and play. The campaign offered potential homebuyers 100% returns on booking fees, 100% interest-free flexibility, 100% legal fees borne, 100% furnishing, 100% financing as well as 100% additional referral rewards for successfully introducing friends and family to purchase a property. Following the success of the Tropicana 100 campaign that recorded over RM700 million sales, and cognisant to the current market needs on how much the campaign has benefitted many, Tropicana extended its campaign for another 100 days. Aptly named Tropicana 100 Xtended, this campaign offered the same campaign perks and in addition, 10 lucky draw winners walked away with 1000% returns on their bookings, clocking up to RM50,000 each! The Group also embarked on a strategy to clear its remaining completed developments through its Tropicana FreeDOM campaign that was specially curated for completed properties across Malaysia. Keen investors or purchasers looking for completed commercial and residential developments in Klang Valley, Penang, Johor, and Kota Kinabalu were offered big savings on move-in-ready units. Property owners enjoyed zero down payment, special rebates, 100% financing with Maybank Islamic’s HouzKEY programme as well as free maintenance of up to 10 years. An additional 2% referral reward was granted to buyers that successfully introduced and sold the property to family and friends. Most of the participating properties came in move-in conditions – an added bonus to save time, money, and effort. MARKET TRACTION & FUTURE GROWTH 66 67 Annual Report 2021 TROPICANA CORPORATION BERHAD PERFORMANCE REVIEW
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