LBS Bina Group plans to launch RM3 billion worth projects in coming 9 months

LBS Bina Group Berhad (LBS) plans to launch properties with a combined estimated Gross Development Value (GDV) of RM3 billion in the next 9 months.

New projects or phases in the pipeline includes KITA Sejati, KITA Mekar in KITA @ Cybersouth, Dengkil, Ritma Perdana and new block of Melodi Perdana apartment in LBS Alam Perdana township, Bandar Puncak Alam, Vines 3 in Cameron Golden Hills, Emerald Garden 3 in Bandar Putera Indah, Batu Pahat, and Bayu Hills in Genting Permai.

Speaking at the LBS Post 20th AGM Media Briefing, LBS Group Managing Director, Tan Sri Lim Hock San said, “More than 80% of our future project launches are located in the Klang Valley region.”

“Our strong sales performance is an indication of the group’s proven strategies in developing the right products that meet the market demand. As a result, our sales momentum has picked up tremendously. And, as at 26 July 2020 LBS have achieved RM780 million sales”. said Tan Sri Lim Hock San.

Over the past 3 years, LBS has handed over 5,526 units properties. In year 2020 and 2021, we are targeting to handover a total of 7,181 units.

To date, LBS has a total of 15 ongoing projects with an estimated GDV of RM4.3 billion. As at June 30, LBS owns future landbank of 3,591 acres. This land bank is projected to keep the company busy for the next 10 to 15 years. “We will continue our strategy to build more affordable townships based on our 3 core pillars of Affordability, Connectivity and Community,” said Tan Sri Lim Hock San.

As at July 15, LBS total unbilled sales stood at RM 2 billion. With this billing in progress, LBS remains optimistic about its growth prospects in the current and near future.

At the AGM earlier, the group received shareholders’ approval for the payment of a First and Final Single Tier Dividend in respect of the financial year ended Dec 31,LBC 2019 comprising Treasury Shares distribution in the ratio of 3 Treasury Shares for every 100 existing Ordinary Shares held.


Please enter your comment!
Please enter your name here

Latest News

Bank Muamalat Approved 83% SME Payment Assistance Applications

With Covid-19 surge currently being experienced by the country seeing no sign of abating, many SME's who were already struggling during MCO...

Weekend Golf Getaway in Horizon Hills and Ponderosa

With Covid-19 looming, overseas travel is far and beyond anyone's wishes at the moment, but for frequent travelers keeping oneself locked up...

Coach Inspired By NYC Skyline

This holiday, Coach is updating its seasonal collection with the joyful release of its Coach 2020 Holiday Collection – the designs are...

Maxis Makes Top Management Changes After CTIO Departs

Maxis is seeing major changes in its top management, starting with the departure of its Chief Technology and Information Officer (CTIO), Morten...

Preparing for post-pandemic opportunities

Businesses in Malaysia must begin planning and preparing now to be able to leverage the opportunities that come with the eventual post-pandemic...

Must read

4 reasons why customer experience is the key to success

Vincent Tang, Regional Vice President, Asia, Epicor "Customer service" and "customer experience" are often used interchangeably. But there's a...

Deloitte report finds Malaysia among regional leaders in digital life adoption

An extensive survey conducted by Deloitte across age groups in eight countries in South and Southeast Asia showed that consumers aged between...

Malaysia needs to brand its startup ecosystem as one of world’s best, says KJ

Khairy Jamaluddin, Minister of Science, Technology and Innovation, said the country’s entrepreneurship ecosystem was on par with the world’s best, but Malaysia...

How today’s technology is key to industrial and manufacturing sector business continuity in a post-Covid-19 world

By  Dr. Ravi Gopinath, Chief Product Officer AVEVA , How the world does business was changing before the outbreak...