EPF selling hotel in Port Dickson?

It is reported that EPF have asked real estate agents to look for a buyer for the Marina Vista Suite Hotel Block B in Port Dickson.

PETALING JAYA: The Employees Provident Fund (EPF) is said to be seeking a buyer for its 160-room hotel in Port Dickson – its third hotel sale since 2014, The Edge reported.

Quoting a source, the financial publication said that Marina Vista Suite Hotel Block B, located in Avillion Admiral Cove, may fetch as much as RM50 million.

When contacted, the retirement savings fund neither confirmed nor denied the rumour.

In an email response to The Edge, the EPF said: “Buying and selling any investment is part of EPF’s investment process – to realise gain or rebalance our portfolio.”

But according to The Edge, EPF is said to have asked real estate agents to look for a buyer, although it has not hired an exclusive marketing agent.

Potential investors, it added, have reportedly been sent an information memorandum (IM), which provides details of the asset.

An IM that was prepared by Zerin Properties reveals that Marina Vista has 79 years left on its lease.