Algorithm to create minimal bounding-box composition of point cloud

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I have a set of 2D points. I want to find a set of (possibly overlapping and arbitrarily oriented) bounding-boxes for subsets of these points such that each point lies within at least one box, each box contains at least k points and such that the combined area of the boxes is minimized.

One idea for an algorithm I have is:

  • use a concave-hull algorithm to find a concave hull for the points.
  • use convex decomposition algorithm to find a set of convex hulls.
  • compute arbitrarily oriented minimum bounding box for each of the convex hulls.

I'm looking for a list of other (potentially better suited) algorithms for this problem?

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