LBS targets RM1.2 billion in property sales for 2016

LBS Bina Group Bhd is optimistic that its target of RM1.2 billion in property sales could be achieved through its 15 projects expected to be completed and launched this year.

Its Managing Director, Tan Sri Lim Hock San said the company achieved a total of RM1.029 billion in sales last year which was an increase of 60% compared to 2014.

The company’s residential projects in Selangor were key contributors to its total sales in 2015 worth RM864 million.

“LBS provide various products. We develop industrial parks, shop lots, landed properties and a lot more, that we are confident can sell.

“With that, our target sale for this year is RM 1.2 billion and we are confident we can achieve it,” Lim said.

The 15 projects in line to be completed throughout 2016 has a Gross Domestic Value (GDV) of RM5.9 billion.

These projects include Bandar Saujana Putra 21, Bandar Saujana Putra Village, Sky Villa@ D’Island Residence, Corallia 4@ D’Island Residence, Desiran Bayu, Telok Gong Industrial Park, Taman Perindustrian Alam Awana @U10 and Precint 1.

The group expects developments in the Klang Valley to be the main contributor to its 2016 property sales, taking up approximately 85% of its sales.

Property Investment and Affordable Houses

Lim meanwhile advised investors to make smart investment decisions.

He said that property prices, affordability and the ability to obtain loans are key points to consider before investing.

Commenting on affordable housing Lim said that LBS aims to only build affordable houses that are of 1000 square feet.

Lim said this is because the size is suitable and houses that are of a bigger size would be more expensive.

LBS will be launching a new affordable housing project in Batu Pahat soon.

Each house will measure 1000 square feet and will be worth RM300, 000.

“We sell according to the square feet. If you choose a bigger unit, it will be more expensive. That is the reason why, LBS always targets 1000 square feet. Its design is suitable with three rooms, sufficient for a small family.

“As a developer, when we launch affordable houses, we need to make a profit out of that too. If we do not get the profit, it will be a loss even for our shareholders,” Lim said.

He added LBS will continue to play a proactive role in developing more affordable houses in support of the government’s effort.

Apart from its project in Batu Pahat, LBS will launch two other affordable housing projects: Rumah Selangorku in Bandar Saujana Putra and Perumahan Penjawat Awam 1Malaysia (PPA1M) in Bukit Jalil.