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KOTA KINABALU: Deputy Chief Minister Datuk Seri Dr Joachim Gunsalam on Monday officiated the groundbreaking of The V by Jesselton, a RM1.5 billion integrated waterfront development along Likas Bay featuring commercial suites, offices and lifestyle spaces.

The ceremony also witnessed the signing of a Letter of Acceptance between developer Jesselton International and main contractor China State Construction Eight Engineering Division Corp Ltd, with Yayasan Sabah as joint venture partner and landowner.

Joachim, who is also Local Government and Housing Minister, said the project supports the State Government’s vision to build a world-class waterfront city that stimulates local investment and creates employment opportunities for Sabahans.

State Tourism, Culture and Environment Minister Datuk Seri Christina Liew said The V complements the Sabah Malaysia My Second Home programme and strengthens the state’s attraction to global visitors and investors.

Representing Yayasan Sabah Director Datuk Seri Gulamhaidar Khan Bahadar, Datuk Jasnih Daya said the collaboration reflects the foundation’s commitment to responsible development, while Jesselton International Group Managing Director Nick Chu Kian Fui described The V as a symbol of sustainable, innovative growth for Kota Kinabalu’s seafront community.