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LBS plans to launch RM2.65b GDV of projects in 2021

PETALING JAYA (Jan 7): LBS Bina Group Bhd (LBS) plans to launch projects worth an accumulated gross development value (GDV) of RM2.65 billion this year. The group continues to adapt to new norms and shift its marketing strategies through digital platforms.

LBS group managing director Tan Sri Lim Hock San (pictured) said at a media briefing yesterday: “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 three main pillars of affordability, connectivity and community.”

He added: “Our digital platforms were ready and the 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 websites.”

Lim said: “[Albeit] stringent housing loan regulations, with the right product and marketing campaign, together with initiatives under National Budget 2021 that bode well to economic recovery and encourage homeownership, property sales momentum is picking up significantly.” 

According to LBS, 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 terraced houses, KITA Mesra single- and double storey-terraced houses, as well as double-storey town houses. 

Meanwhile, the upcoming phases in LBS Alam Perdana township at Bandar Puncak Alam include Ritma Perdana double-storey terraced houses and new block of Melodi Perdana serviced apartments. Mercu Jalil @ Bukit Jalil and Prestige Residence @ Seri Kembangan are both serviced apartments.

The group’s new projects in the 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 terraced houses and Laman Bayu 3 double-storey houses in Bandar Putera Indah, Batu Pahat.

In 2020, LBS launched a total of 14 projects with a GDV of RM1.49 billion in two key township projects: KITA @ Cybersouth and LBS Alam Perdana, Bandar Putera Indah township and Taman Kinding Flora. LBS registered sales of RM1.2 billion last year, and exceeded its revised target of RM1 billion.

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

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