SELANGOR, 27 October 2025 – MGB Berhad (“MGB” or the “Group”), a construction and property development solutions provider and subsidiary of LBS Bina Group Berhad, is pleased to announce that its wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd has accepted a Letter of Award (“LOA”) from UDA Accord Development Sdn Bhd (“UDA Accord Development”). The LOA is for the proposed development of Phase 2 Residensi Wilayah housing project located at Jalan Jubilee, Kuala Lumpur.
The LOA, valued at RM118.5 million, entails superstructure works for a 45-storey residential block, comprising 702 units, a seven-storey podium car park, amenities floors and a guard house. Work is expected to commence in November 2025 and targeted for completion within 30 months by May 2028.
This award from UDA Accord Development solidifies MGB’s position as a trusted strategic construction partner, reflecting the Group’s proven track record of successfully delivering private sector residential developments that uphold the highest standards of excellence, as well as government-initiated housing developments executed with the same quality, efficiency and reliability. This new LOA strengthens MGB’s outstanding construction order book to approximately RM1.25 billion, underscoring the Group’s project momentum and ensures project pipeline of work.
Formerly known as Rumah Wilayah Persekutuan or RUMAWIP, the Residensi Wilayah programme was first introduced in 2013 by the Malaysian federal government to offer quality, affordable and strategically located homes to middle-income residents in the Federal Territories of Kuala Lumpur, Putrajaya, and Labuan. Its core mission is to narrow the housing affordability gap in these territories.
Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San, MGB’s Group Executive Chairman commented, “We are proud to be part of this meaningful development, contributing to Federal Territories’ housing through the Residensi Wilayah initiative to address housing affordability issues in these areas. That said, we align closely with UDA Accord Development’s mission and value, sharing the same dedication to provide affordable, high standard homes that cater to the needs of the rakyat by creating inclusive communities and contribute to Malaysia’s progressive urban development goals.”
UDA Accord Development is a joint venture company affiliated with UDA Holdings Berhad, a wholly owned company controlled by Malaysia’s Ministry of Finance through MOF Inc. UDA Holdings Berhad is widely recognised for its dedication to sustainable urban development and delivering affordable housing projects across Malaysia.
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