The beachfront land, Lot 3497, is understood to be accepting offers of around RM15 million, which translates into RM34.44 ($10.77) psf. Lot 3497 is owned by Rampai Budi, which is in turn wholly owned by Kenwingston United, a company search indicates.
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”.
