Monday January 28, 2013
RM1bil PD waterfront project to be catalyst for growth
By SARBAN SINGH
Photos by UU BAN LEONG
THE successful launch of the first phase of public-listed TSR Capital Bhd’s RM1bil integrated development PD Waterfront project in Port Dickson, Negri Sembilan, has given the resort town a new lease of life and will certainly help boost its image as a premier tourist destination.
PD Waterfront, an area reclaimed more than two decades ago, but which had remained abandoned until recently due to the two rounds of economic slowdowns in 1987 and 1997, is today a jewel in the heart of Port Dickson and judging from how fast the properties under phase 1 were snapped up, the project is also set to be a catalyst for growth here.
The first phase, covering an area of 550,000sq ft, is today a hive of activity with several reputable brand businesses already having opened up operations.
Among these are outlets serving Thai, Japanese and Korean cuisines, fast foot outlets, seafood restaurants, bakeries, bistros and pubs, kopitiam, local delicacies as well as other popular franchisees.
There is also a boutique hotel and one of the country’s biggest banks operating at the seafront area which was becoming increasingly popular among locals as well as tourists.
TSR Capital chairman Tan Sri Mohamad Noor Rahim said phases 2 and 3 of the project, which will among others include the construction of hotels, an international school, private hospital, a convention centre and service apartments, will be completed in the next eight years
“When the project is completed, it will certainly attract a lot more businesses and people to PD. The project has been a boost for PD with the availability of job opportunities and spin-off activities,” he said adding that although TSR Capital’s principal activities were in the construction sector, it was slowly diversifying into property development.
Mohamad Noor said several more established companies, including popular franchisees, would be moving into the area under phase 2 of the project.
“We will also have more financial institutions as well as popular chains of fast food outlets moving in once the second phase is completed,” he said.
Negri Sembilan Mentri Besar Datuk Seri Mohamad Hasan who officially launched the phase 1 of the project as well as the D’Wharf Residence serviced apartments said the development, located on a 25ha area, has generated plenty of interest among locals as well as from those outside the state.
“The project has injected life into PD which had become a sleepy hollow not too long ago. We are happy that this project is taking shape nicely as it would complement the state government’s efforts to boost tourism in the state,” he said.
Mohamad Hasan said TSR acquired the property through a public auction and then submitted its development plans to the state authorities.
“When we saw their proposal, we immediately knew that it would be good for PD as well as the state in general.
“It will also help us reliase our target of turning the tourism sector as one of the main revenue earners for the state by 2020,” he said adding that the property prices in the area has tripled since its soft launch.
He said, on its part, the state government was in talks with the federal authorities to revive the train service from Seremban to PD.
This, he said was to allow people from all over the country to get to PD via rail. He said the state government was also planning to upgrade the existing train station in Seremban and to model it after KL Sentral.
“We plan to build some 4,500 Prima homes at Seremban Sentral as well as other commercial blocks,” he said, adding that the project would help generate economic activity in places like PD.