LBS Bina secures RM124.6m financing from MBSB

KUALA LUMPUR (Mar 1): Property developer LBS Bina Group Bhd (LBS Bina) signed an agreement for term and bridging financing facilities of up to RM124.6 million with Malaysia Building Society Bhd (MBSB) on Thursday.

The financing facilities would be used for the construction of D'Island Residence, its high end development in Puchong.

The financing facilities consist of term and bridging financing and they would be used to finance two phases of LBS's D'Island Residence, namely Balvia and Nautilus.

D'Island Residence has an estimated gross development value (GDV) of RM3.6 billion and is expected to take five to seven years to be completed.