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Kota Kinabalu: Jesselton Waterfront Sdn Bhd, a subsidiary of Jesselton International, in a joint venture with Yayasan Sabah, officially unveiled on Wednesday its latest project, “The V”, a RM1.4 billion Gross Development Value (GDV) integrated waterfront development along Tanjung Lipat in Likas.

“The V would occupy 10.04 acres along Likas Bay. Fo” under of Jesselton International Tan Sri David Chu said “The V” name in Roman numeral for number five draws inspiration from five elements that symbolise harmony and balance in life, reflecting a design philosophy that integrates nature, wellness, and connectivity. 

From its flowing architectural design to wellness-focused amenities, he said every feature had been thoughtfully crafted to create a destination where people can live, work, and connect in harmony, blending lifestyle and business within one ecosystem.

“Kota Kinabalu is one of the last places in Asia where you can still live by the sea at a price under RM300,000. That’s an increasingly rare opportunity.

“Today, it’s common to spend the equivalent of a property’s value on a car, which depreciates over time. In contrast, property offers much more than a lifestyle statement — it represents long-term security, rental potential, and a tangible asset for future generations,” he said.

Jesselton International Managing Director Nick Chu said the project marks another milestone in the company’s property development journey.

“Our company’s core focus has always been building quality and iconic developments, from our first project Jesselton Residences which we completed in 2017, to Jesselton Twin Towers completed early last year.  

“Completing these developments and achieving innovating feats inspired us to build ‘The V’ and this project will be the largest development in our portfolio to-date, comprising three towers of commercial suites condominium, and one corporate office tower, where all four towers have accessed to their own stunning facility decks and the views of Likas and the bay.

“It has 78 blocks of commercial shops which are connected to a central air-well podium, and will house some of the finest businesses,” he said, at the preview.

Nick said “The V” represents five elements forming the rhythm of nature namely the metal, wood, water, fire and earth.

“As we unveil ‘The V’, our vision is simple: that is to also bring together the five essentials of modern living — nature, design, wellness, community, and ambition — creating a destination that feels nothing short of five-star.

“The opportunity is rare as developments of this size in prime Likas, positioned with such a great view, selling at very competitive prices for easy entry.

“Early bird deals are for a limited time,” he said, while adding that the sales gallery would be open to the public starting July 2025. Walk-ins are welcome to explore the show units and discover more about this landmark development, he added.

Nick also commended its joint venture partner, Yayasan Sabah Group, which was represented by its Chief Operating Officer Douglas J. Joinol and his team, for being very supportive in providing the opportunity to realise their vision through “The V”.

Jeseelton International Group CEO Kevin Thong said “The V” marks an exciting chapter for the company as they continue to shape Kota Kinabalu’s skyline.

“The project which will commence in Sept, this year and expected to be completed in four and a half year, features a new benchmark in Waterfront living. 

“Occupants and units owners get to enjoy permanent gazetted sea frontage along Likas Bay, offering uninterrupted views and exceptional exclusivity — a rare privilege in Sabah.

“The project will have Borneo’s first 100-metre infinity lap pool, pickle ball courts, zen gardens, co-working lounges, kids’ splash and play zones, and sky bars, among others,” he said.

Kevin said they are targeting 80 per cent foreigners from China, Hong Kong, Korea and Taiwan showing interest for the commercial service suites or AirBnB.

“We are developing ‘The V’ project to accommodate Sabah’s booming tourists in coming years where they could stay in our service suites as we know existing hotels also could not attend to the high demand of tourists coming to the State especially during peak season.

“In fact, the Sabah government has targeted 3.5 million tourist arrivals in 2025 following a successful 2024 where this exceeded the three million target. 

To a question, Kevin said Yayasan Sabah as its JV partner is taking up half of Tower D which is around 14 to 15 floors out of 31 floors in the tower, with the purpose of making the floors as their offices.