GEORGE TOWN: LBS Bina Group Bhd, a property developer guided by people-first values, has entered two joint venture agreements (JVAs) with Oriental Holdings Bhd (OHB) to jointly develop Phase 1A and Phase 1B of an integrated mixed-use project in Klebang, Melaka.
The formal signing marks a significant milestone in the collaboration between both parties, paving the way for the commencement of the Project’s first phase.
These JVAs follow the Memorandum of Understanding (MoU) signed on May 15, further solidifying the strategic partnership between LBS and OHB.
The first phase of this collaboration involves the development of approximately 22.16ha of prime commercial land, divided into Phase 1A and Phase 1B, each spanning about 11ha. Both sub-phases will feature various types of individual commercial units, including the possibility of residential units. The first phase is scheduled to be launched by 2027.
LBS group executive chairman Tan Sri Ir Dr Lim Hock San said, “The first phase of the project is poised to become a premier commercial destination.
“Its prime location ensures high visibility and excellent access, attracting strong business activity and footfall.
“This collaboration also creates synergy with our ongoing reclamation and development of land in Tanjung Bruas, as both projects are strategically positioned within the Straits of Melaka Waterfront Economic Zone. Together, these developments strengthen LBS’ foothold in Melaka’s coastal growth corridor and unlock opportunities across logistics, industrial and commercial segments.”
He added, “This partnership exemplifies our shared vision of fostering long-term value creation and advancing sustainable regional development.
“By leveraging the combined strengths, expertise and resources of LBS and OHB, we aim to contribute to Melaka’s transformation into a thriving, forward-looking business and lifestyle destination.”
