TSR Capital upbeat on Port Dickson project

PORT DICKSON: Construction and property firm TSR Capital Bhd is upbeat on its Port Dickson Waterfront development and expects it to contribute positively to its earnings in future.

Chief operating officer Datuk Wan Abd Razak Ismail said PD Waterfront was becoming a popular seaside holiday destination and bringing in large numbers of local and international tourists.

“TSR is gearing up for a few upcoming development phases, including more than 100 water chalets and a condotel with development costs of RM110 million and RM180 million, respectively, as well as a convention hall.”

He added that PD Waterfront had recently launched Phase Three of its retail shop commercial development consisting of 28 two- and three-storey shop offices, of which 50 per cent had been booked.

“This definitely augurs well for the company over the next few years,” said Wan Abd Razak at the launch of its RM130 million D’Wharf Hotel and serviced residences on Saturday.

The D’Wharf Hotel, which is part of the PD Waterfront development, has 303 rooms and a view of the Straits of Malacca.

The hotel started operations in July last year and has achieved average occupancy rate of 75 per cent.

TSR’s vision is to elevate the development into the international level.

Wan Abd Razak He said TSR’s unit, TSR Ocean Park, started the PD Waterfront development in 2011 and the esplanade was now providing jobs for locals at a string of local and international restaurants.

TSR was appointed master developer of the 24.2ha PD Waterfront development in 2010 and tasked by the Negri Sembilan government to turn Port Dickson into a major holiday destination.