SBC Corp could boost the gross development value (GDV) of its projects for the next 12 months to RM800 million from the current RM300 million, once the joint-venture (JV) agreement with Suria Capital Holdings Bhd is finalised.
Notably, the GDV of the group's projects within Peninsular Malaysia stands at approximately RM600 million, while its JV project with Suria Capital will add another RM200 million. This is based on the assumption that shareholders and the relevant authorities approve the project during the next six months, of which SBC is confident.
In May, the group entered into a JV with Suria Capital to develop around 16.25 acres of coastal land in Kota Kinabalu.
Set for launch in 1H2014, the project known as Jesselton Quay is poised to be one of the biggest for SBC and will add around 600m of private marina waterfront to the city coastline.
Previously known as Jesselton Waterfront Project, the project will be a redevelopment as well as an extension north of the old Kota Kinabalu city centre.
With its design taking cue from Singapore's Marina Bay Sands, the mixed integrated development will feature various tourist attractions, including hotel and world class retail components, convention centre and international cruise terminal. It will also have residential towers and several premium office towers.
Other upcoming projects of SBC are Kiara East and other stand-alone sites in Bandar Ligamas, Kuala Lumpur, Ulu Yam-Genting Road as well as the Peak Collection in Kota Kinabalu.
It also has ongoing projects in Kuala Lumpur, Kiara East, Kota Kinabalu, Bandar Ligamas and Kuantan.
Notably, the GDV of the group's projects within Peninsular Malaysia stands at approximately RM600 million, while its JV project with Suria Capital will add another RM200 million. This is based on the assumption that shareholders and the relevant authorities approve the project during the next six months, of which SBC is confident.
In May, the group entered into a JV with Suria Capital to develop around 16.25 acres of coastal land in Kota Kinabalu.
Set for launch in 1H2014, the project known as Jesselton Quay is poised to be one of the biggest for SBC and will add around 600m of private marina waterfront to the city coastline.
Previously known as Jesselton Waterfront Project, the project will be a redevelopment as well as an extension north of the old Kota Kinabalu city centre.
With its design taking cue from Singapore's Marina Bay Sands, the mixed integrated development will feature various tourist attractions, including hotel and world class retail components, convention centre and international cruise terminal. It will also have residential towers and several premium office towers.
Other upcoming projects of SBC are Kiara East and other stand-alone sites in Bandar Ligamas, Kuala Lumpur, Ulu Yam-Genting Road as well as the Peak Collection in Kota Kinabalu.
It also has ongoing projects in Kuala Lumpur, Kiara East, Kota Kinabalu, Bandar Ligamas and Kuantan.
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