LBS refines strategies

Share

LBS aims to achieve RM1.2 billion in sales for 2021. (Centre) LBS Bina Group Berhad, Group Managing Director, Tan Sri Lim Hock San, posing with (from left) Executive Director & Deputy CEO of MGB Berhad, Isaac Lim; Executive Director & CEO of MGB Berhad, Datuk Richard Lim; and LBS Executive Director, Datuk Wira Joey Lim, Dato’ Sri Barry Lim, Dato’ Cynthia Lim and Lucas Lim.

6 January, PETALING JAYA – Leading township developer, LBS Bina Group Berhad (LBS) strategises toward a plan for 2021 with launches valued at an estimated Gross Development Value (GDV) of RM2.65 billion. Despite the current market challenges due to the COVID-19 pandemic, LBS continues to adapt to new norm, shifting marketing strategies by further penetrating the digital platforms, and confident that 2021 will be yet another exciting year for the group.

New developments in the pipeline in Klang Valley include new phases at the KITA @ Cybersouth township in Dengkil which consist of KITA Sejati serviced apartments, KITA Mekar double storey terrace houses, KITA Mesra single and double storey terrace houses as well as double storey town houses. While new phases in LBS Alam Perdana township at Bandar Puncak Alam include Ritma Perdana double storey terrace houses and new block of Melodi Perdana serviced apartments.  Mercu Jalil @ Bukit Jalil and Prestige Residence @ Seri Kembangan are both serviced apartments.

Whereas new projects in Pahang region include Bayu Hills serviced apartment in Genting Permai, and Cameron Centrum double storey terrace houses. Other projects to be unveiled include Taman Kinding Flora single storey cluster link and terrace houses in Chemor, Perak, Magma Garden 2 affordable houses, Emerald Garden 3 single storey terrace houses and Laman Bayu 3 double storey houses in Bandar Putera Indah, Batu Pahat.

LBS Bina Group Berhad, Group Managing Director, Tan Sri Lim Hock San sharing the property market outlook.

Speaking at LBS 2021 Media Briefing, LBS Group Managing Director, Tan Sri Lim Hock San said, “Affordability remains the key concern for homebuyers and therefore, we will take a conservative approach and continue to focus our strategy of building properties and townships based on the 3 main pillars of Affordability, Connectivity and Community,”

While embracing the constantly evolving technologies in the digital age, LBS’s digital platforms were ready and marketing team was able to get in touch with the prospective buyers via various platforms even before the pandemic, which include virtual show units and website. “Tan Sri Lim explained.

LBS registered sales of RM1.2 billion in year 2020, exceeded its revised target of RM1 billion, despite the challenging market.

“Amid stringent housing loan regulations, but with the right product and marketing campaign, together with initiatives under National Budget 2021 that bode well to economy recovery and encourage homeownership, property sales momentum is picking up significantly,” Tan Sri Lim elaborated.

In 2020, LBS launched a total of 14 projects with a GDV of RM1.49 billion across KITA @ Cybersouth and LBS Alam Perdana two key township projects, Bandar Putera Indah township and Taman Kinding Flora.

LBS has 19 ongoing development projects with an estimated GDV of RM4.95 billion. As at 31 December 2020, LBS owns future landbank size of approximately 3,412 acres, projected to keep the Group busy for 10 to 15 years. The group has unbilled sales of about RM2.225 billion, expected to provide clear earnings visibility for the group in the next two to three years.


Share