Malaysian property developer MGB Bhd has unveiled ambitious plans to transform 26 acres in Seri Kembangan into mixed-use and residential projects worth RM861.35 million. The company, majority-owned by LBS Bina Group, will collaborate with Talam Transform Bhd on a 16.5-acre commercial and affordable housing development under the Rumah Selangorku initiative.
A separate 9.5-acre parcel of Malay reserved land will be developed in partnership with Kandis Permai Sdn Bhd, catering exclusively to Bumiputera buyers. The projects will utilize industrialized building system (IBS) technology to ensure cost efficiency and quality construction, aligning with MGB’s goal of delivering 10,000 affordable homes in Selangor.
The company remains optimistic about its growth prospects, backed by a strong RM1.19 billion construction order book and RM693 million in unbilled sales as of September 30. Recent milestones, including the completion of the Idaman BSP project, further reinforce its market position.
With 19 ongoing developments expected to generate RM4.02 billion in future revenue, MGB continues expanding its land bank, recently acquiring 32 acres in Puchong for upcoming projects. Executive Chairman Tan Sri Dr Lim Hock San emphasized the company’s commitment to affordable housing while maintaining sustainable growth in Malaysia’s competitive property sector.