Property Insight > News release > LBS Refines Strategies; To launch RM2.65 billion GDV of projects in 2021

LBS Refines Strategies; To launch RM2.65 billion GDV of projects in 2021

Petaling Jaya, 6 January 2021 — Leading township developer LBS Bina Group Berhad (LBS) strategises toward 2021 with launches valued at an estimated Gross Development Value (GDV) of RM2.65 billion. Despite current market challenges stemming from COVID-19’s after-effects, LBS continues to adapt to the new norm’s shifting market strategies by further penetrating digital platforms with confidence that 2021 will be yet another exciting year for the group.

New developments in Klang Valley’s pipeline include new phases at the KITA @ Cybersouth township in Dengkil, consisting of KITA Sejati serviced apartments, KITA Mekar double storey terrace houses, KITA Mesra single and double storey terrace houses, as well as double story town houses.

New phases in LBS Alam Perdana township at Bandar Puncak Alam include Ritma Perrdana double storey terrace houses and new block of Melodi Perdana serviced apartments. Mercu Jalil @ Bukit Jalil and Prestige Residence @ Seri Kembangan are both serviced apartments.

As for Pahang, new projects include Bayu Hills serviced apartment in Genting Permai, and Cameron Centrum double storey terrace houses. Other projects to be unveiled include Taman Kinding Flora single storey cluster link and terrace houses in Chemor, Perak, Magma Garden 2 affordable houses, Emerald Garden 3 single storey terrace houses and Laman Bayu 3 double storey houses in Bandar Putera Indah, Batu Pahat.

At LBS’ 2021 Media Briefing, LBS Group’s Managing Director, Tan Sri Lim Hock San said, “affordability remains the key concern for homebuyers and therefore, we will take a conservative approach and continue to focus our strategy of building properties and township based on the three main pillars of affordability, connectivity and community.”

“While embracing the constantly evolving technologies in the digital age, LBS’ digital platforms were ready and marketing team were able to get in touch with the prospective buyers via various platforms even before the pandemic, which include virtual show units and website,” Tan Sri Lim explained. LBS’ registered sales of RM1.2 billion in year 2020, exceeded its revised target of RM1 billion, despite the challenging market.

In 2020, LBS launched a total of 14 projects with a GDV of RM1.49 billion. As of 31st December 2020, LBS owns future landbank size of approximately 3,412 acres, projected to keep the Group busy for 10 to 15 years. The group has unbilled sales of about RM2.225 billion, expected to provide clear earnings visibility for the group in the next two to three years.

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