Labuan: 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.

According to BERNAMA News Agency, the leasing of these eight assets is intended for commercial purposes, including mixed commercial and tourism-related developments. Rithuan Ismail emphasized the invitation to both local and foreign investors to present their business models and investment proposals for these strategic assets. He highlighted the goal 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.

Rithuan outlined that the assets offered for leasing comprise Pulau Papan; the former Hotel Labuan site, 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.

He stated that the initiative reflects LC's continued efforts to unlock the value of strategic assets while attracting quality investments to drive Labuan's economic growth.