Kota Kinabalu: Golden Land Berhad (GLB) has launched The Playground @ Kota Kinabalu (Riuh KK Suites), a RM230 million commercial suites project on a joint venture site in Sembulan.
“As a Sabahan, I am very proud of what GLB Chief Executive Officer Stewart Yap Phing Cern has achieved,” said Deputy Chief Minister II Datuk Seri Masidi Manjun when officiating the ceremony, Sunday.
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“This is testimony to our ability to do well given an opportunity. We can do as good as anyone else,” said Masidi, who is also State Finance Minister, at the ribbon-cutting ceremony with senior representatives of GLB and Maple Hospitality Group (MHG).
He commended Stewart for returning to contribute to Sabah’s growth, noting that he (Stewart) was a Sandakan-born businessman who had made his mark in the corporate world.
He also urged Stewart to ensure that the United Sabah Islamic Association (Usia), the joint venture landowner for the project, is fairly compensated under their existing agreement, noting the deal had been signed long ago but had yet to be implemented.
“When they first signed, a cup of coffee was 50 sen. Now it is RM2.50. So, I hope you pay them at the RM2.50 rate,” Masidi said.
Additionally, he counselled government-linked associations broadly against poorly negotiated development deals, saying those that contribute land but not capital must recognise their limited bargaining position.
“When you are given land by the government, first understand what you are signing. Understand what you are doing. Get advice from those who know the business.
“Learn from our past mistakes. There is nothing to be ashamed of admitting that there have been mistakes so that we can learn to manage it better in the future,” he said, adding he was confident Stewart is willing to guide Usia and explore further joint venture opportunities if this project proved successful.
Meanwhile, Stewart said the launch represented a homecoming for GLB, whose corporate journey began in Sabah more than four decades ago in the timber business as Tanah Emas Berhad.
It diversified into oil palm and later property development following its listing on the main Bursa Malaysia in 2009.
“Today we are here not just to officiate another development after many years away, we are returning to our roots,” he said.
“We are here to firmly set our footprint in Sabah and will actively contribute back and to participate in the growth and vitality of the state’s economy.”
He said the project reflected the company’s aspiration to go past conventional real estate.
“The Playground at Kota Kinabalu reflects our aspiration to create destinations that go beyond conventional real estate by bringing together culture, lifestyle, hospitality and sustainable value creation.
“Through our collaboration with MHG, we are able to strengthen the long-term value proposition of our hospitality-linked assets while reaffirming our commitment to contributing to Sabah’s growth and development.”
The project is developed by Sembulan Emas Sdn Bhd, a wholly owned GLB subsidiary, on a 1.63-acre leasehold site along Jalan Sembulan Lama.
The nine-storey tower will comprise 364 commercial suites in studio, one-room, two-room and dual-key configurations, alongside 13 retail shoplots, with suites priced from RM500,000 to RM1 million.
The development draws on the Linangkit, a traditional Sino-Kadazan-Dusun craft symbolising artistry and unity, woven into its architecture alongside a Modern Memphis design language of bold geometric patterns and vibrant colours.
Experience spaces take thematic inspiration from Sabah landmarks including Mount Kinabalu, Gaya Island, Sipadan and the Maliau Basin, spanning adventure play zones, a beach-concept pool, communal BBQ and karaoke spaces, children’s play areas and relaxation lounges.
The development also marks the debut of the MapleSuites brand in Sabah, through an exclusive collaboration between GLB and MHG, which manages over 3,000 rooms nationwide under its MapleHome, MapleSuites and MapleReserve brands.
Stewart said GLB’s return to Sabah extended beyond the Sembulan project. It has lined up a residential development in Likas and a 14-acre light industrial hub in Putatan, aimed at stimulating investment and job creation along the Greater Kota Kinabalu growth corridor.
Meanwhile, MHG co-founder Danny Hor said the partnership positioned Sabah as a key hospitality growth corridor.
“Sabah represents one of Malaysia’s most promising hospitality growth corridors, supported by strong tourism fundamentals and increasing demand for quality short-stay accommodation,” Danny said.
“We believe strategic partnerships such as this enable us to elevate guest experiences while delivering sustainable value to property owners, travellers and the broader tourism ecosystem,” he said.
