Kota Kinabalu, 3 December 2025 – Suria Capital Holdings Berhad today hosted a press conference to
reaffirm the unified masterplan for Jesselton Waterfront City (JWC). The session highlighted the ongoing
collaboration among the development partners and reinforced the shared commitment to deliver a cohesive,
world-class waterfront development for Kota Kinabalu as well as Sabah.
JWC is a mixed development on the city’s waterfront led by Suria Capital Holdings Berhad, with key
development partners, and is a major revitalisation effort to redevelop Kota Kinabalu Port land into a
modern, world-class waterfront district. Jesselton Quay, developed by SBC Corporation Berhad, has
already delivered JQ Central, its first phase of serviced suites and retail spaces. This has contributed to
early vibrancy and set a new benchmark for modern coastal living on the waterfront. Its next phase, The
Quayside, is progressing towards completion in 2028, followed by Q Suites, which is also scheduled to be
completed in the same year. These phases will further strengthen the area with lifestyle, hospitality, and
waterfront-oriented experiences that reflect SBC’s aspirations to elevate Kota Kinabalu’s coastal urban
identity. Adjacent to it, Jesselton Docklands is a development project undertaken by BEDI Development
Sdn. Bhd., which has commenced its first phase, known as The Bedrock. The entire development is
projected to be completed over an estimated period of fifteen years over 4 phases.
Together, Jesselton Quay and Jesselton Docklands form major components of the JWC masterplan,
setting the stage for a new era of coastal urban lifestyle, investment opportunities, and long-term growth
for Kota Kinabalu and Sabah.
Speaking at the event, Suria Capital Holdings Berhad’s Group Managing Director, Datuk Ng Kiat Min,
emphasised that Suria Group remains the key coordinating authority for all current and future phases of
JWC.
The collaboration between SBC Corporation Berhad and BEDI Development Sdn. Bhd. was acknowledged
within the broader context of JWC’s coordinated development framework. Datuk Ng highlighted that SBC’s
Jesselton Quay developments target the high-end niche market, prioritising waterfront living and premium
urban experiences that set a defining tone for the JWC precinct. Meanwhile, BEDI focuses on lifestyle-
driven premium integrated business and residential hub. Together, they are creating a complementary mix
that strengthens JWC’s positioning as a vibrant part of Kota Kinabalu’s central business district. Datuk Ng
said this press conference presented a significant opportunity to reinforce how both developments
contribute to JWC’s broader vision while catering to wide-ranging market interests.
According to Datuk Ng. “While SBC and BEDI each lead their own developments, they operate collectively
under the JWC masterplan, which also encompasses the Sabah International Convention Centre and Kota
Kinabalu Convention City. This integrated and strategically coordinated approach provides both the public
and investors with confidence that the masterplan is being developed in a well-planned, connected, and
vision-driven manner.
Also present were Mr Rick Phoon, Group Chief Financial Officer, and Datin Soh Wan Ru, Head of Group
Corporate Planning & Development, alongside the Group Corporate Affairs & Communications team.
Representatives from SBC included Datuk Sia Teong Heng, Group Managing Director, and Mr Liang Ee
Eu, Manager at Group MD’s Office.
Suria Capital Holdings Berhad reaffirmed its long-term vision for JWC as a sustainable, financially viable
waterfront district that supports tourism growth and enhances Sabah’s position as a premier destination.
The company emphasised its commitment to delivering an integrated and vibrant waterfront precinct that
benefits residents, investors, and the wider community.
Together, Jesselton Quay and Jesselton Docklands shall be integrated into what is envisioned to be the
largest continuous waterfront boardwalk in Kota Kinabalu City, truly capturing the spirit of “Waterfront for All.”
