Kota Kinabalu: Deputy Chief Minister II, Datuk Seri Dr Joachim Gunsalam, officiated the groundbreaking ceremony for “The V” by Jesselton on Monday, a RM1.5 billion integrated waterfront development along Likas Bay that will feature commercial suites, office spaces and lifestyle facilities.
Dr Joachim, who is also Local Government and Housing Minister, said the landmark project represents a forward-looking vision for Sabah, reflecting the State Government’s aim under the Sabah Maju Jaya roadmap plan to create a globally competitive and sustainable waterfront city.
“This project is more than just another property development, it reflects our aspiration to create a modern and vibrant Kota Kinabalu that balances progress with responsibility.
“It will integrate commercial, retail and lifestyle components within a single sustainable concept that benefits both residents and visitors,” he said.
He commended Jesselton International and Yayasan Sabah for their strategic partnership, describing it as a model of effective public-private collaboration that aligns with the State’s long-term growth agenda.
“Projects like The V not only stimulate economic activity and create jobs but also strengthen investor confidence and enhance Sabah’s urban identity,” he said.
Dr Joachim also praised the project’s strong commitment to Environmental, Social and Governance (ESG) principles, saying sustainability must now be central to all development efforts.
“Progress must go beyond bricks and mortar. It must embody responsibility, inclusivity and environmental care. I am pleased that The V by Jesselton embraces these values,” he added.
State Tourism, Culture and Environment Minister Datuk Seri Christina Liew said the development aligns with the Sabah Malaysia My Second Home (Sabah MM2H) programme and will attract both domestic and foreign investors seeking long-stay and high-quality living by the sea.
“With its modern, integrated design fronting the scenic Likas Bay, The V enhances Sabah’s appeal as an international destination,” she said.
Representing Yayasan Sabah Director Datuk Seri Gulamhaidar Khan Bahadar, Innoprise Corporation Executive Chairman Datuk Jasnih Daya said the partnership ensures that trust land is developed responsibly and delivers long-term public benefit.
“This collaboration will not only enhance the cityscape but also create new employment opportunities, stimulate economic growth and reinforce investor confidence in Sabah’s vast potential,” he said.
He emphasised that Yayasan Sabah is confident in Jesselton International’s ability to deliver the project successfully, backed by its global construction partner China State Construction Engineering Corporation (CSCEC).
“The success of The V will be defined by five key pillars – Nature, Wellness, Connectivity, Design and Ambition – which together reflect Sabah’s bold aspirations for sustainable progress,” he said.
Jesselton International Group Managing Director Nick Chu Kian Fui said The V had been planned with long-term responsibility and community benefit in mind.
“Every aspect of this project has been designed to create lasting value while promoting sustainability. We believe progress must go hand-in-hand with environmental stewardship and social inclusion,” he said.
The ceremony also witnessed the signing of a Letter of Acceptance between Jesselton International and CSCEC’s Southwest Branch, marking the formal start of construction on the 10-acre waterfront site.
The mixed-use masterplan will feature three commercial suite towers, a corporate office tower, and The Shoppes at The V – an open-air retail park with landscaped courtyards, alfresco dining and pedestrian-friendly walkways.
When completed, The V by Jesselton will include more than 50 lifestyle and recreational facilities, Borneo’s first 100-metre infinity pool and its tallest 33-storey atrium.
The project incorporates renewable energy elements, rainwater harvesting systems and low-carbon construction materials as part of its commitment to sustainability.
Also present were Ministry of Local Government and Housing Permanent Secretary Datuk Dr Jamili Nais, Jesselton International Executive Chairman Tan Sri David Chu, Group Managing Director Nick Chu, Kota Kinabalu City Hall (DBKK) Director-General Datuk Sr Lifred Wong and CSCEC Southwest Branch Managing Director Li Biao.
With its strategic location and sustainable design, The V by Jesselton is expected to enhance Kota Kinabalu’s seafront appeal, attract new investors and reinforce Sabah’s position as a rising hub for integrated urban and tourism development.
