LBS Bina Group Bhd has formalized two joint venture agreements with Oriental Holdings Bhd (OHB) to co-develop Phases 1A and 1B of a major integrated mixed-use project in Klebang, Melaka, marking a key milestone in their long-term collaboration. The agreements follow a memorandum of understanding signed on May 15, 2025, and cover about 22.15 hectares of prime commercial land, split equally into two sub-phases of around 10.93 hectares each. According to LBS, the first phase will include a mix of commercial units and potentially residential components, targeting a 2027 launch. The scheme aims to create a modern urban hub combining retail, business, and community functions tailored to Melaka’s expanding economic base. Analysts note that the partnership signals both companies’ confidence in the Straits of Melaka Waterfront Economic Zone (SM-WEZ), a state-backed corridor expected to attract significant logistics, tourism, and industrial investments in coming years. LBS Bina’s executive chairman Tan Sri Dr Lim Hock San highlighted that Phases 1A and 1B will form a premier commercial destination with strong connectivity and visibility, benefiting from proximity to Melaka City and the Straits shipping route. He said the collaboration builds synergies with LBS’s ongoing reclamation and land development works at Tanjung Bruas, also within the SM-WEZ, enabling both ventures to complement each other across industrial, logistics, and retail segments. The alliance combines LBS’s development expertise with OHB’s investment and engineering capabilities, aiming to foster sustainable regional growth. Market watchers view the project as part of Melaka’s wider push to diversify its economic footprint beyond tourism by expanding high-value coastal infrastructure. Together, the joint ventures are expected to strengthen LBS Bina’s foothold in Malaysia’s southwestern growth corridor and reinforce Melaka’s emergence as a future-ready business and lifestyle destination along the Straits of Malacca.