LBS focused on townships, assures more affordable landed homes in 2018
4 January, PETALING JAYA – LBS Bina Group Berhad (LBS) proved its resilience in the property sector achieving approximately RM1.4 billion in sales for the year 2017, up 15 per cent from 2016. It is full steam ahead for LBS as it remains confident in maintaining its steady momentum throughout 2018, staying ever focused on offering more affordable homes and self-sufficient townships, aligned to the needs of today’s home buyers.
“We concluded 2017 on a high, and we continue to raise the bar by targeting to achieve RM1.8billion in sales by the end of 2018. Looking ahead, we see that the demand for affordable homes continues to be the main need among home buyers. This is where our strength is. LBS has been involved in developing affordable homes from the start, and that is why we have a strong track record spanning 35 years. We believe our strategy of delivering the right offerings, at the right price, and at the right time, will continue to sustain our momentum,” said Group Managing Director, Tan Sri Lim Hock San.
The Group listed its BSP21 in Bandar Saujana Putra, LBS Alam Perdana and Midhills as the main contributors to its exceptional sales achievement in 2017.
LBS announced the line-up of projects for 2018 with eight new launches, amounting to a GDV of RM 2.19 billion. This year, 3,139 units would consist of affordable homes priced below RM500,000, representing 60 percent of the township developer’s RM1.8 billion sales target.
For 2018, the Group’s portfolio will include a 40 per cent landed residential developments focus in the Klang Valley, which will amount to a GDV of RM884 million. This comes following the need for more affordable homes that are easily accessible given the convenience of being located within the Klang Valley.
Aligned to its focus for 2018 and inspired by the success of its Bandar Saujana Putra township, LBS is optimistic about the progress and reception of its on-going townships namely, LBS Alam Perdana in Puncak Alam, D’Island Residence in Puchong, Bandar Putera Indah in Batu Pahat and Cameron Golden Hills in Cameron Highlands as well as its upcoming township, LBS CyberSouth in Dengkil. LBS identified LBS Alam Perdana, its Projek Perumahan Awam 1 Malaysia (PPA1M) and Residensi Bintang Bukit Jalil, and LBS CyberSouth as key target areas where it expects to see significant growth.
LBS currently has a land bank of 4,110 acres with a total future GDV of RM29.04 billion. These include on-going developments comprising 304 acres and a remaining 3,806 acres reserved for future developments. The plots of land are in the Klang Valley (43%), Johor (40%), Perak (11%), Pahang (5%) and Sabah (1%). As at 27 Dec 2017, LBS’ unbilled sales were at RM1.523billion.