LABUAN CORPORATION INVITES INVESTMENT PROPOSALS FOR EIGHT PRIME ASSETS

By Jailani Hasan

LABUAN, March 28 (Bernama) -- Labuan Corporation (LC) has issued a request for proposal (RFP) to local and foreign investors for the leasing and development of eight of its assets, including the site of the recently demolished Hotel Labuan.

LC chief executive officer Rithuan Ismail said the leasing offer forms, available via the local authority’s portal, are open from March 19 to May 19, 2026.

“The leasing of these eight assets is intended for commercial purposes, including mixed commercial and tourism-related developments.

“We are inviting both local and foreign investors to present their business models and investment proposals for these strategic assets.

“We want to transform Labuan into a vibrant economy that supports a mix of economic activities and promotes economic security by enabling access to living-wage employment and broader economic opportunities, including greater participation in the labour market,” he told Bernama today.

He said the assets offered for leasing comprise Pulau Papan; the former Hotel Labuan site, which is suitable for a five-star hotel or an international convention centre; the Labuan Halal Hub Complex building; three lots at the old market; Rusukan Besar Island; an industrial and logistics hub at Jalan Tuanku Shariff Kedah; two lots for commercial, office or mixed development at Jalan Dewan; and a prime commercial land at Jalan OKK Abdullah.

Rithuan said the initiative reflects LC’s continued efforts to unlock the value of strategic assets while attracting quality investments to drive Labuan’s economic growth.

-- BERNAMA