Photo shows the exchange of documents between Suria and Bedi Development.
KOTA KINABALU (Feb 7): Suria Capital Holdings Berhad has entered into a joint venture agreement (JVA) with Bedi Development Sdn Bhd, a subsidiary of Exsim Development Sdn Bhd for the development of integrated mixed commercial projects on two prime parcels of land here.
This marks a significant milestone for Suria’s property development division, following the success of the Jesselton Quay Central (JQC) completion in 2023, serving as the inaugural phase of the Jesselton Quay waterfront development led by Suria and SBC Group.
The sites are the Jesselton Point Ferry Terminal in Kota Kinabalu and 10 acres of the Kota Kinabalu Port wharf and its surrounding waterbody.
Collectively, these parcels span approximately 2.543ha and 11.69ha respectively.
The mixed-commercial developments will also encompass the redevelopment of a dedicated international cruise terminal and ferry terminal within the vicinity.
“We are thrilled to partner with Bedi Development for these two significant parcels of land. Leveraging their prime geographical location fronting the South China Sea against the backdrop of Mount Kinabalu, the proposed development is conceptualised along a theme of an affluent and elite waterfront community,” said Suria Capital group managing director Datuk Ng Kiat Min.
The JVA formalises the shared intentions of Suria and Bedi, outlining their respective rights and obligations concerning the development, construction, and completion of the project as the developers.
Surrounded by waterfront developments such as Jesselton Quay, Sabah International Convention Centre, and Kota Kinabalu Convention City, the mixed-commercial project
will seamlessly integrate into the overall vision of the Jesselton Waterfront City
masterplan.
Suria and Bedi Development look forward to the successful realisation of the proposed Jesselton Waterfront City envisioning it as a catalyst to propel Kota Kinabalu into the epitome of vibrant and upscale waterfront living as well as a premier destination.