A prime freehold development site in Penang’s Batu Ferringhi has been launched for sale, offering a unique opportunity for investors and developers to acquire a rare coastal landholding. Marketed by Colliers, the site is available through an Expression of Interest (EOI) with an asking price of $29.8m (MYR140m). The property, spanning approximately 3.344 acres (13,533 sqm), is approved for up to 722 keys, making it suitable for a landmark integrated hospitality, serviced flat, and wellness destination.
Situated along Jalan Telok Bahang, the site benefits from beachfront access and is surrounded by established hospitality brands such as Bayview Beach Resort and Shangri-La Golden Sands. The development plans propose 473 luxury serviced flats and 249 five-star hotel rooms, with a total designed gross floor area of approximately 54,042 sqm. A management agreement with a renowned hotel operator is in place, although buyers have the flexibility to choose alternative branding.
Zoe Zhou, Director of Capital Markets and Investment Services at Colliers Singapore, highlighted the rarity of such large-scale freehold development sites in Batu Ferringhi, noting the site’s compelling investment potential due to its scale, zoning, and beachfront location.
Penang’s growth as a tourism, healthcare, and advanced manufacturing hub further enhances the site’s appeal. In 2025, the state welcomed 8.76 million hotel guests, including 3.47 million international visitors. The Malaysian Association of Hotels reports average weekday occupancy of 70%, with peak periods seeing up to 100% occupancy.
The Expression of Interest exercise for this investment opportunity closes at 3.00pm on 30 September 2026.
