LBS Bina surpasses 2016 sales target, remains optimistic about 2017

LBS Bina surpasses 2016 sales target, remains optimistic about 2017

PETALING JAYA, 5 January – Award-winning developer, LBS Bina Group Berhad (LBS Bina), has started the year with a keen focus on providing home buyers more options in the local residential property segment. 

Amidst a softening property market, LBS Bina attributes its continued resilience to its capabilities of applying the right strategy, with the right offerings, at the right time.

Following a successful year, LBS Bina delivered a total of 1,971 residential and non-residential units which enabled the Group to achieve an impressive RM1.238 billion in sales, as at 31 December 2016, surpassing its initial target of RM1.2 billion. 

1,366 units of the total comprised homes priced below RM500,000 which contributed 70% of the Group’s total sales.

87% of its developments were delivered within the Klang Valley while the remaining 13% comprised developments located in Ipoh, Pahang and Johor. In order to keep the momentum going, LBS Bina Group Managing Director, Tan Sri Lim Hock San, today announced the line-up of projects for 2017 with 92% comprising residential developments and 8% non-residential developments.

The property developer also announced a total of 12 new launches, amounting to a Gross Development Value (GDV) of RM 2.349 billion, constituting approximately 5,543 units due to be launched in 2017. 

Approximately 4,284 units of this total will consist of affordable homes priced below RM500,000. Understanding the importance of accessibility and location to affordable home seekers, LBS Bina assures that these quality yet affordable residential developments will be located in the Klang Valley.

 “We are very happy to announce that we have achieved our sales target of RM1.2 billion in 2016. We understand the challenge home buyers face when it comes to finding homes closer to urban townships for better accessibility to work and amenities. 

This year, we will continue to focus our efforts on providing more residential options within the Klang Valley. Home buyers can look forward to the launch of residential properties with prices ranging below RM500,000 to above RM500,000 over the next 12 months,” said Tan Sri Lim.

The highly anticipated projects within the Klang Valley include developments in Bandar Saujana Putra, Puchong, comprising D’ Island Residence, Langit and Lake and Desiran Bayu; as well as Bukit Jalil, Alam Perdana and CyberSouth

Projects outside the Klang Valley include Cameron Centrum and Cameron Golden Hills in Cameron Highlands as well as Bandar Putera Indah in Batu Pahat, Johor.

The property developer is confident the strategic location of its projects, which provide connectivity and convenience, will contribute towards the appreciation of value for its developments.

 Furthermore, LBS Bina is ready to handover approximately 1,127 homes, which amount to a total GDV of RM463.2 million, to buyers this year. This is a testament to the Group’s commitment to supporting the national agenda of promoting home ownership through a good mix of quality living spaces.

The Group continues to be cautiously optimistic about Malaysia’s property market in 2017. “We believe home buyers recognise the value of a good development. It incorporates quality living spaces, convenient amenities and facilities, community living and connectivity. 

This is where LBS Bina excels, through years of experience developing a wide range of homes catering to the specific needs of home buyers, be it in the affordable, medium range or premium market segment,” Tan Sri Lim concluded. 

 

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