By Sharen Kaur
KUALA LUMPUR: Labuan Corp is opening five strategic assets to private investors through long-term lease and redevelopment partnerships as the federal territory seeks to attract fresh capital, revitalise underutilised properties and strengthen its tourism and economic growth prospects.
The initiative covers a mix of tourism, hospitality and commercial assets, with the statutory body inviting proposals from qualified local and international companies to unlock the development potential of these sites.
Among the assets being offered is the 18-hole Labuan International Golf Club, one of East Malaysia's established championship golf courses.
Also on offer is Pulau Rusukan Besar, a 2.43ha island with eco-tourism and resort development potential, together with the former Hotel Labuan site, a 0.48ha parcel in the town centre that is available for redevelopment following the demolition of the ageing hotel building.
The remaining assets comprise development parcels along Jalan Dewan and Jalan Tuanku Sharif Kedah, which are suitable for commercial, tourism-related or mixed-use projects as part of Labuan's broader economic development plans.
Labuan Corp chief executive officer Rithuan Ismail said the leasing exercise forms part of the corporation's efforts to accelerate Labuan's economic development by leveraging private sector expertise, investment and innovation.
He said the corporation is seeking proposals from financially capable and experienced local and international companies registered with the Companies Commission of Malaysia.
Projects may be undertaken through long-term lease arrangements, privatisation models or other strategic development partnerships, he told Bernama.
Rithuan said the strategic assets have significant development potential, and their optimal utilisation could stimulate new economic activities, create employment opportunities and contribute to Labuan's long-term growth.
He added that proposals would be evaluated based on their commercial viability and alignment with Labuan Corp's development objectives, particularly their ability to strengthen the island's tourism sector, enhance the business ecosystem and deliver sustainable benefits to the local community.
Source: https://www.nst.com.my/property/2026/08/1506188/labuan-golf-club-hotel-labuan-site-lease-redevelopment
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