LBS Bina Group Berhad, renowned for its people-centric approach to development, anticipates a thriving 2024 as it unveils an ambitious property sales target of RM1.8 billion. The Group successfully concluded 2023 with property sales amounting to RM1.701 billion.
At the LBS 2024 annual media briefing, attended by over 100 media associates at the LBS Headquarters, the company disclosed plans to launch 10 new projects in 2024 across Klang Valley, Johor, and Pahang. These launches encompass 4,858 units with a total Gross Development Value (“GDV”) of RM2.33 billion.
In the Klang Valley, LBS will focus on launching 2,960 units with a total GDV of RM1.14 billion, with a significant portion allocated to Idaman Perdana in LBS Alam Perdana.
Collaborating with its construction arm, MGB Berhad, LBS aims to introduce various projects, including the Rumah Idaman MBI apartment block, double-storey terrace houses at Astella, and the SkyRia serviced-apartment block at D’Island Residence.
Projects in the Pahang region include the Bayu Hills serviced apartment in Genting Highland and bungalow units at Rimbawan Acacia Garden, Genting Highland. Additionally, the largest mixed development in the region, Centrum Iris at Cameron Centrum, Cameron Highlands, is on the horizon.
In Johor, LBS plans to launch 63 double-storey semi-detached houses at Imperial Garden in Bandar Putera Indah, Batu Pahat, and the Pangsapuri Saujana Indah apartment in Taman Molek.
Reflecting on 2023, LBS successfully launched projects like KITA Bestari in KITA @ Cybersouth, Astella terrace houses at D’Island Residence, and Block B of Prestige Residence in Seri Kembangan.
Currently managing 19 ongoing development projects with a collective estimated GDV of RM5 billion, LBS boasts a substantial landbank of approximately 2,767 acres as of December 31, 2023. This extensive reserve is expected to sustain the Group’s activities for the next 10 to 15 years.
Executive Chairman Tan Sri Ir (Dr) Lim Hock San expressed enthusiasm for 2024 and outlined the Group’s commitment to affordability, connectivity, and community-centric development. With a positive outlook for the property market, LBS aims to uphold its values while delivering developments worth a total GDV of RM2.33 billion across multiple states.
“We are excited to kickstart 2024 on an optimistic footing and we look forward to a positive 2024. Reflecting back, LBS consistently and cautiously launched projects throughout 2023. In fact, LBS had to push back a few launches to this year taking into account market sentiments and economic conditions, which led to a slight dip in our property sales. Nevertheless, we remain focused on delivering our targets for this year. A key highlight is our successful delivery of vacant possession for 4,872 units, worth RM 2.40 billion.” He said.
Tan Sri Ir (Dr) Lim Hock San highlighted the Group’s focus on Environmental, Social, and Governance (ESG) initiatives, emphasizing the aim to achieve net-zero carbon emissions by 2050. LBS also remains committed to rewarding shareholders in line with its dividend policy.
