After successfully achieving RM1.63 billion sales in 2019 depite challenging market conditions due to lower consumers sentiments, LBS Bina Group Berhad (LBS), aims to reach RM1.6 billion sales in 2020.
Sales in 2019 were mainly contributed from projects in the central region which are KITA @ Cybersouth and LBS Alam Perdana township.
For the past five successive years, the company recorded a CAGR of 20.37 percent thanks to their ‘people-focused’ approach and wider adoption of Industrialised Building System (IBS) and design optimisation.
“We are very pleased with our achievements as it validates our approach to develop projects that meet the three main pillars of Affordability, Connectivity and Community. LBS has continued to focus on quality townships and affordable developments in strategic locations, a segment that remains relatively strong in a subdued market sentiment. This focused approach has proven effective, as reflected in LBS’ financial performance,” said Tan Sri Lim Hock San, LBS Group Managing Director.
With 18 ongoing projects and a future landbank size of approximately 3,630 acres as at 31 December 2019, Tan Sri Lim expects the group’s sales prospects to remain resilient in 2020 with a target of RM 1.6 billion.
“Moderating housing sentiment and tightening lending criteria will carry on this year. But, as the ‘People’s Developer’, LBS will continue to think out-of-thebox, to appeal to the needs of modern homebuyers. We differentiate ourselves through placemaking, curating spaces that celebrate inclusive, meaningful living experiences,” he added.
Tan Sri Lim concluded, “We believe the target is achievable depending on the market sentiments and the marketing campaigns which they will embark on in 2020.”
LBS plans to launch properties worth RM2.321 billion in 2020. The projects which will be concentrated in the central region are predominantly new phases of on-going developments including KITA @ Cybersouth township, LBS Alam Perdana township and Midhills 2.