Gabungan AQRS Berhad (“GBGAQRS”) and Suria Capital Holdings Berhad (“SURIA”) announced the formalisation of a Joint Venture Agreement (“JVA”) for the collaborative development of a lucrative mixed development, aimed at capturing a slice of the sizeable property market potential of Sabah. The project which will be named One Jesselton Waterfront, is set to be constructed across a 7 acre plot of land within the vicinity of Kota Kinabalu Port with an estimated Net Sale Value (“NSV”) of RM 1.8 billion.
The parcel of land, which is part of 23.25 acres allocated to Suria by the State Government of Sabah, will feature a shopping mall called One Jesselton Mall with a NFA of 473,795 square feet (“Sq.Ft”), a phase of corporate offices named Suria Corporate Office with a Net Floor Area (“NFA”) of 74,487, Sq.Ft. and a phase of retail lots to be named Suria Retail with a NFA of 74,892 Sq.Ft. Additionally, the development will also include serviced suites and apartments, a condo residence as well as car park facilities, and a ferry ticketing office.