Dracaena draco ( Dragon Tree ) is sometimes also called the Dragon's Blood Tree because when the leaves or stems are cut, the sap is red. These plants are slow growing and very long-lived. Older plants have many branches and end up with an umbrella-like shape and flat on top. They are drought tolerant once established and prefer temperate to warm climate, a sunny position and well drained soil. This spectacular specimen plant is growing in a waterfront reserve on Sydney Harbour.