Concept reduction preserving binary relation is a new reduction theory in formal concept analysis, it can reduce the number of concepts without losing the original information. This paper studies the concept reduction of property-oriented concept lattices, this newly proposed reduction can preserve the complementary binary relation. First, the definition of property-oriented concept reduction is given. Then, the approach to obtain concept reduction and characteristics of property-oriented concept are given from the perspective of POC representative concept matrix. Moreover, the relationship between property-oriented concept reduction and object-oriented concept reduction are discussed. Finally, the application of property-oriented concept reduction in knowledge space theory is given.