Group Executive Chairman of LBS, Tan Sri Dato’ Sri Ir. (Dr) Lim Hock San, and Group Executive Chairman of Oriental Holdings Berhad, Datuk Loh Kian Chong, exchanged documents following the signing of a Joint Venture Agreement on 27 October 2025 in Penang.
This 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 15 May 2025, further solidifying the strategic partnership between LBS and OHB.
The first phase of this collaboration involves the development of approximately 54.75 acres of prime commercial land, divided into Phase 1A and Phase 1B, each spanning about 27 acres. 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.
