LBS and SSI sign MOU to jointly develop land in Perak

LBS collaborates with SSI for housing projects in Perak.

Ipoh, 23 January 2019 – To support the Government’s national housing agenda, Perak State Secretary Incorporated (SSI) and LBS Bina Group Berhad (LBS), through its subsidiary company Bimbingan Simfoni Sdn Bhd, have signed a Memorandum of Understanding (MoU) to develop two parcels of land situated in Temoh and Chepor, Perak.  The collaboration was cemented at a recent signing ceremony witnessed by Perak Menteri Besar, Datuk Seri Ahmad Faizal Azumu, at the Perak State Government office.

Under the agreement, LBS will develop 50 acres of land located in Temoh, near Batang Padang district and a 41-acre parcel of land in Chepor of Hulu Kinta district in Perak with a combined estimated Gross Development Value (GDV) of RM 200 million.

These parcels of land are expected to be used for mixed-use developments comprising cluster terrace homes in the affordable price segment as well as terraced and semi-detached homes. The construction works are expected to begin in Q4 this year and to be completed in the next three to four years.

Speaking at the signing ceremony, LBS Bina Group Berhad Group Managing Director, Tan Sri Lim Hock San, said, “Affordable housing is the key issue for the nation now. The collaboration between LBS and SSI stems from the shared passion to help realise the Government’s commitment in delivering one million affordable homes over the next 10 years. We sincerely thank the Perak State Government for placing their trust in LBS. We are committed to delivering homes that cater to the needs of the people in Perak specifically meeting the affordability criteria.”

LBS has over 25 years of experience in developing innovative developments to meet the needs of home buyers and communities. Todate, LBS has delivered 35,000 quality properties which include affordable homes, high-rise apartments, integrated townships and commercial units, and has successfully achieved RM1.53 billion sales last year, recording its fourth consecutive year of growth.

Tan Sri Lim further said that the project would feature the signature qualities of other LBS developments – quality homes promoting a balanced lifestyle. “In this day and age, building homes has gone beyond constructing a house with a roof. We need to put ourselves in the shoes of our homebuyers, studying their needs and lifestyle in order to create homes that will improve their lifestyles.”

SSI Chief Executive Officer, Azizul Rahman Mohamad, said, “During the recent announcement of Perak state government’s plans for 2019, the affordable housing sector has been listed as one of the priority sectors.  We are targeting to build 50,000 affordable homes in Perak within the next five years. This partnership with LBS is aligned to the state government’s mission to help more people from the low to middle income group to own a home.”

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