KUALA LUMPUR: Aquaria KLCC operator Aquawalk Group Bhd
has inked a 30-year lease agreement for about 73,054 square feet of premises within the Bedrock at Jesselton Docklands, Kota Kinabalu, which it has planned for development of Aquaria Kota Kinabalu.
The project, which is estimated to cost RM70.5mil, marks the group's first venture into Sabah. It is targeted for completion by 2029.
According to Aquawalk's issued statement, its wholly-owned subsidiary, Aquawalk KK Sdn Bhd, signed the lease for the prime waterfront location with Jesselton Docklands 1 Sdn Bhd.
Jesselton Docklands is a 35-acre port regeneration development located within the central business district of Kota Kinabalu, with an estimated gross development value of approximately RM4.2bil.
According to the group, the development site fronts the waterfront and is intended to be developed as an integrated cultural, financial and tourism hub.
It is planned to be undertaken in five plots, namely Bedrock, Enclave, Reef, Tides and Holm (collectively referred to as “BERTH").
The proposed development is expected to comprise, among others, a new international cruise terminal and ferry terminal serving as a maritime gateway to the city, as well as hotels, residential components, a cultural precinct and commercial zones.
Aquawalk said the development will be funded via a combination of IPO proceeds of RM39.6mil, with the remaining funded through internally generated funds and, where appropriate, bank borrowings.
The group recorded total cash of RM180.9mil and had no outstanding borrowings as at end-2025.
For the financial year ended Dec 31, 2025, the group generated net operating cash flow of RM50.4mil.
"Upon commencement of operations, Aquaria KK is expected to enhance our recurring income base and strengthen long term earnings visibility for the Group.
"With our proven track record in developing and operating world-class marine attractions, we are confident in delivering a compelling visitor experience in Kota Kinabalu. We aim for Aquaria KK to be an attraction that Sabah and Malaysia can be
proud of," said group executive chairman Datuk Simon Foong.
