LBS Bina to launch RM3 bil worth of projects over next nine months

PETALING JAYA (July 27): LBS Bina Group Bhd (LBS) is looking at launching projects worth an estimated RM3 billion in gross development value (GDV) over the coming nine months, said the company managing director Tan Sri Lim Hock San (pictured).

These projects or phases include KITA Sejati and KITA Mekar in KITA @ Cybersouth, Dengkil, Negeri Sembilan; Ritma Perdana and new block of Melodi Perdana apartments in LBS Alam Perdana, Bandar Puncak Alam, Selangor; Emerald Garden 3 in Bandar Putera Indah, Batu Pahat, Johor; Vines 3 in Cameron Highlands and Bayu Hills in Genting Permai, Genting Highlands, Pahang. 

“Besides the Klang Valley, our project in Batu Pahat, Johor has attained more than RM100 mil sales as of yesterday, compared to sales in the entire 2019 of RM87 mil. The sales momentum is picking up. 

"Also, we will be focusing on our projects in Cameron Highlands and Genting Highlands because due to international travel restrictions, people are travelling more within the country so more people may look for holiday homes here or to invest in. 

It is currently looking to build small-sized apartments in these two hill resorts with units measuring about 550 sq ft or 2 bedrooms, 1 bathroom units  - subject to approval. 

"Prices are yet to be decided but if priced right, people will buy. This will be the focus in these two hill resorts which will help to boost LBS’ sales for the future,” shared Lim during a media briefing after the developer’s 20th AGM here today. 

At the AGM earlier, LBS received shareholders’ approval for the payment of a first and final single tier dividend for the financial year ended Dec 31, 2019. This comprises treasury shares distribution in the ratio of three treasury shares for every 100 existing ordinary shares held. 

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