Landing the deal

IT IS often interesting how the seller and the buyer have contrasting views on an asset that’s at the heart of a transaction. One example is Tropicana Corp Bhd’s proposed disposal of 309 acres in Kuala Langat, Selangor, to fellow property developer Eco World Development Group Bhd for RM470.67mil cash.

Typically, the investment community is lukewarm to the idea of a developer selling land. The landbank is essentially the developer’s stock-in-trade. The core business is to hold on to that land, build on it and sell the products.