This article first appeared in The Edge Malaysia Weekly on June 22, 2026 - June 28, 2026

A 10-acre beachfront commercial parcel in Port Dickson, Negeri Sembilan is up for sale via tender. The land, which had approval — though now expired — for 173 units of three-storey water villas and a three-storey amenities building, is located in Jalan Pantai and close to Corus Paradise Resort Port Dickson.

Based on documents sighted by The Edge, a valuation done in June 2023 for the leasehold land was RM26 million with a forced value of RM18.4 million. A forced value is the amount of money a property is expected to fetch if it has to be sold quickly under pressure, usually because the owner is facing financial distress. It represents the worst-case scenario value if the seller does not have the luxury of time to wait for a better offer. It is akin to a “fire sale”.

The beachfront land, Lot 3497, is understood to be accepting offers of around RM15 million, which translates into RM34.44 psf. Lot 3497 is owned by Rampai Budi (M) Sdn Bhd, which is in turn wholly owned by Kenwingston United Sdn Bhd, a company search indicates.

Kenwingston United lists Kenwingston Group managing director Datuk Lam Kong Tang (22.7%), Lim Kim Eng (20.9%), Lim Wei Chuan (13.8%) and Tang Seng Wai (10.8%) as shareholders, as well as a 10.6% stake each in the company for Chia Hue Chian, Lew Kok Sin and Yeoh Boon Lim.

In 2019, Lam said the group had plans to build water villas and a hotel on the 10-acre land, with a long-term leaseback arrangement for 15 to 30 years as they were confident of Port Dickson’s potential as a centre of tourism.

The exclusive marketing agent for Lot 3497 is The Roof Realty Sdn Bhd. Asked to comment, its associate leader and partner Paul Lim tells The Edge that the tender exercise closes on Aug 15.

But how is Port Dickson’s hospitality market doing? Carey Real Estate Sdn Bhd’s head of investment division Shawn Valerio tells The Edge that the market has generally recovered well post-pandemic, with demand being primarily driven by domestic leisure travellers, short-stay family vacations, corporate retreats and government-related events.

“Occupancy levels for well-positioned beachfront resorts are typically in the range of 55% to 70% annually, with stronger performance during weekends, school holidays and festive periods. Premium beachfront properties can often exceed these levels during peak periods.

“Average daily rates (ADR) vary significantly by product positioning. Mid-scale properties generally achieve rates between RM250 and RM450 per night, while established resort properties and internationally branded hotels can command between RM500 and RM900 per night, with premium room categories and villas achieving higher rates,” he says, adding that the rest of the market typically serves the budget travel market with ADR below RM150 to RM300, and higher rates achieved during weekends and extended holidays.

It is understood that another two-acre beachfront tract in Jalan Pantai is also up for sale by an individual owner. The asking price for similar land nearby is said to be around RM135 psf.

But does Port Dickson still pull hotel investments? A local agent says that the fundamental appeal has not changed in decades.

“Port Dickson is the closest beach to the Klang Valley, roughly an hour’s drive from Kuala Lumpur and well within range of Kuala Lumpur International Airport, making it a default short-break destination for both domestic leisure travellers and corporate groups holding retreats or conferences. That proximity is also why the area continues to attract serious institutional capital even now,” the agent says.

Carey Real Estate’s Valerio agrees that there is demand for new hospitality developments in Port Dickson, but cautions that the market does not necessarily need more of the same product. He adds, “The opportunity lies in differentiated offerings such as experiential resorts, wellness retreats, luxury beachfront developments and integrated hospitality-led projects. The Teluk Kemang-Pasir Panjang stretch remains the most attractive area due to its beachfront appeal and established tourism ecosystem.

“Investors today are primarily seeking sites with beachfront frontage, scale and redevelopment potential that can create destination-driven experiences rather than conventional hotel assets.”

In August last year, The Edge reported that Thistle Port Dickson, which is also located in Jalan Pantai in Teluk Kemang, is said to be up for sale for about RM130 million. Owned by Singapore-based GuocoLand Ltd via its subsidiary GuocoLand Hotels Pte Ltd, the 251-room hotel sits on a 64.07-acre freehold tract, which includes a four-acre vacant parcel zoned for commercial development and a nine-hole golf course.

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