LBS Bina, Oriental Holdings sign RM7bil MOU for industrial project in Melaka
KUALA LUMPUR: LBS Bina Group Bhd has entered into a Memorandum of Understanding (MOU) with Oriental Holdings Bhd (OHB) to jointly develop an integrated mixed-use industrial project in Klebang, Melaka, with an estimated gross development value (GDV) exceeding RM7 billion.
The landmark development will comprise primarily industrial and commercial components, strategically located within the Straits of Melaka Waterfront Economic Zone (SM-WEZ).
Klebang was chosen for its advantageous coastal location, expanding infrastructure, and alignment with Melaka's long-term economic transformation goals.
The MOU was signed by LBS executive director Datuk Sri Daniel Lim and OHB group executive chairman Datuk Loh Kian Chong in the presence of Melaka Chief Minister Datuk Seri Utama Ab Rauf Yusoh.
The Chief Minister's attendance highlights the state government's strong support and underscores the project's pivotal role in driving economic growth and urban development in Melaka.
LBS Bina group executive chairman, Tan Sri Dr. Lim Hock San, hailed the agreement as a key milestone in the group's expansion into Malaysia's southern region.
"In partnership with OHB, we are excited to shape Klebang into a vibrant, sustainable township. By combining our expertise and shared vision, we aim to deliver lasting value, both in building sustainable developments and uplifting Melaka's economic and social landscape. We look forward to a strong, long-term partnership built on shared goals and mutual success," Lim said.
The primary focus of this mixed-use industrial development is to cater to small and medium-sized enterprises (SMEs) in sectors such as oil and gas production, manufacturing, food and beverage supply chains, and warehousing. Furthermore, given the development's frontage along a main access road, the industrial units offer commercial value, as they can also function as retail showroom warehouses.
Additionally, Melaka ranks sixth among Malaysian states in terms of industrial property transactions. Notably, the demand for vacant plots and semi-detached industrial units has recorded double-digit growth, driven by both investors and owner-occupiers.
Covering approximately 561 acres, the development will be implemented in four phases.
LBS Bina stated that detailed land demarcations and development plans will be finalised in forthcoming Definitive Agreements, to be mutually agreed upon by both parties.
Enhancing the project's connectivity and long-term potential is the upcoming West Coast Expressway (WCE), which will stretch from Banting, Selangor, to Gelang Patah, Johor.
Once completed, the highway is expected to relieve traffic on the North-South Expressway and serve as a catalyst for growth in key coastal towns including Klang, Port Dickson, Melaka, Muar, and Batu Pahat.
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