LBS Bina aims high, expects to deliver 7,209 units in 2023

• The company handed over 2,957 units in 2022.
• Sales target for 2022 surpassed by 25% and RM2 billion sales target set for 2023.
• 12 new launches in the Klang Valley and three other states.

CYBERJAYA (Jan 11): LBS Bina Group Bhd plans to hand over vacant possession of 7,209 property units with a total GDV of RM3.61 billion, an increase of about 144% compared to 2022.

Its executive chairman Tan Sri Lim Hock San (pictured) said LBS has finished 2022 on a strong note, surpassing its sales target by 25%, and is cautiously optimistic about the property market in 2023.

He said despite high uncertainties with the current economic status, both globally and locally, LBS has carried out strategic planning and discussions to ensure it navigates 2023 cautiously and on a steady footing as the company is looking to maintain its performance.

“As the People’s Developer, there is much to look forward to as we aim to launch properties worth a total RM2.09 billion in GDV across various states. We are committed towards ensuring our properties continue to remain attainable to prospective homebuyers,” Lim said at the LBS 2023 Media Briefing, yesterday.

He said that the group will be launching 12 new projects with 4,021 cumulative units this year, located in the Klang Valley, Johor, Pahang and Perak.

The projects in the Klang Valley include single-storey link houses, double-storey link houses and townhouses within KITA Bestari at KITA @ Cybersouth, Cyberjaya; double-storey terrace units – Astella in D’Island Residence, Puchong; and Block B of Prestige Residence, Seri Kembangan.

In Pahang, among the launches by the company will be 642 units of serviced apartments called the Bayu Hills, Genting Highlands; single-storey terrace houses in Taman Kinding Flora, Chemor and Zenit Molek serviced apartments at Taman Molek in Johor.

Replying to a query by EdgeProp.my on the actions taken to avoid geographical uncertainties in highland projects such as landslides, Lim said the developments by LBS have followed the suitable Environmental Impact Assessment or EIA guidelines and obtained necessary approvals to ensure the safety of the projects.

“I also encourage all my people to monitor the slope, the drains, and everything. This (should be done) in order to prevent it from happening,” he said.

Last year, LBS achieved 10 launches – 4,910 units with a total GDV of RM1.63 billion and currently has 18 ongoing projects with a GDV of RM5.7 billion.

Lim said LBS’ future landbank stood at approximately 2,972 acres, projected to keep the group busy for 10 to 15 years.

The landbank consist of 1,108 acres in Johor; 989 acres in the Klang Valley; 463 acres in Pahang; 406 acres in Perak; and six acres in Sabah.

“In addition, the group has unbilled sales of about RM2.46 billion, expected to provide clear earnings visibility over the next two to three years. The group managed to garner strong property sales despite a challenging 2022 propelled by the use of creative marketing campaigns such as the LBS Fabulous Extra 2022-23 campaign, which offered homebuyers with RM1.5 million worth of lucky draw prizes to be won,” he said.