PETALING JAYA: Suria Capital Holdings Bhd and Jesselton Docklands 1 Sdn Bhd have signed a joint development agreement (JDA) to jointly develop 2.543ha of land within the Kota Kinabalu Port area in Sabah.
In a filing with Bursa Malaysia, Suria Capital said the estimated net development value of the development, called Jesselton Docklands 1, will be at least RM1bil.
“The Jesselton Docklands 1 project, which will be the foundation for the entire Docklands development, is an integrated tourism-focused development that will entail the construction and development of commercial buildings in three phases,” it said.
Suria Capital said the Jesselton Docklands 1 project is expected to commence within three months from the unconditional date of the JDA, with an estimated development period of six years.