LBS Bina expects RM7b mixed industrial development in Melaka to boost local growth, attract investments

• LBS is expanding its mixed-use development portfolio beyond the Klang Valley, particularly in the southern region of Peninsular Malaysia.

PETALING JAYA (May 24): The mixed industrial development project in Klebang, Melaka, is expected to boost local growth through the creation of a more active economic chain and attracting new investments to the area.

LBS Bina Group Bhd (KL:LBS) group executive chairman Tan Sri Dr Lim Hock San (pictured) said the project is part of the company’s initiative to strengthen holistic development, not only in the housing sector, but also covering commercial and industrial sectors.

"During the construction period and after the project is completed, it will generate various job opportunities for residents, from the construction sector to management, maintenance and business," he told Bernama.

On May 15, LBS and Oriental Holdings Bhd (KL:ORIENT) signed a memorandum of understanding to collaborate on a mixed industrial development project in Melaka, involving a gross development value of more than RM7 billion.

The proposed development covers an area of ​​about 277 hectares and will be implemented in four phases, with specific details of the location and land subdivision to be finalised through a final agreement jointly agreed upon by all parties involved.

According to Lim, LBS is expanding its mixed-use development portfolio beyond the Klang Valley, particularly in the southern region of Peninsular Malaysia.

He said Klebang is among the areas that have great potential in terms of future development, including infrastructure, investment and community aspects.

“We see these areas as having high potential for long-term growth. This is in line with LBS’ long-term strategic plan to strengthen our presence in the region,” he said.

Commenting on whether LBS is now focusing on industrial development, Lim said providing affordable housing for Malaysians remains a core commitment of the company.

“However, at the same time, we are also taking steps to explore development in the industrial and commercial sectors. This is not a matter of changing direction, but rather expanding our capabilities and responding to the country’s growing development needs and potential,” he said.

Lim said he believes that LBS’ involvement in industrial and commercial development can not only help the country’s economic growth, but also ensure the company’s sustainability in the long term.

“We believe that a balance between housing, industrial and commercial development will create a more comprehensive and sustainable development ecosystem,” he said.

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