Property Development

The Group diversifies its business into property development to capitalise and maximise the value of its land assets located at the waterfront of the Central Business District.

Suria entered into a joint venture agreement with SBC Corporations Berhad (SBC) to build the mega Jesselton Quay (JQ) development. The JQ project is poised to provide vibrancy to the surrounding areas and complement other developments in the vicinity such as Sabah International Convention Centre (SICC) and Kota Kinabalu Convention City (KKCC).

The first phase of the development, JQ Central has been completed with the Occupation Certificate (OC) issued in January 2022. JQ Central development features two (2) towers of commercial suites known as City Pads, i-Tower, a recreation club on the podium, commercial gallery shoppes, car park facilities and Suria’s corporate office.

The second phase of the JQ project, will commence in 2023 with target completion in 2030. It shall comprise of a hospitality tower, low-rise heritage shoppes and high-end residences.

Suria owns two (2) other parcels of land adjacent to JQ measuring 7.0 acres and 28.9 acres respectively. Suria intends to enter into a joint venture with a reputable property developer to develop both lands which shall include a dedicated international cruise terminal in the near future.

Jesselton Quay

JQ Central, the first phase of the 16.25 acres Jesselton Quay (JQ) development which Suria jointly develops with SBC Corporation Berhad (SBC), was completed with occupation certificate obtained on 19 January 2022. A lighting-up ceremony was jointly held to signify completion and the event was officiated by the Chief Minister of Sabah, Datuk Seri Panglima Haji Hajiji bin Haji Noor.

JQ Central comprises two (2) towers of commercial suites called CityPads, one (1) tower of i-office adaptable as 24-storey hotel tower in the future, 218 units of Gallery Shoppes, a podium that houses a recreation club called BeachClub, and a seven (7) storey carpark.

Phase two (2), which is also the last phase of the JQ project to be developed on the remaining land parcel will commence construction in 2023, with completion period expected in 2030. It shall consist of hospitality towers, high-end residences and a low-rise heritage precinct.