PETALING JAYA, June 28 — LBS Bina Bhd expects to achieve its RM1.5 billion sales target by year-end, supported by projects to be launched this year including an affordable housing project, says group managing director Tan Sri Lim Hock San.
He said as of June 27, net sales of the company stood at RM766 million, contributed mainly by the project in Cyber South.
“We also have unbilled sales of RM1.745 billion and 18 ongoing projects.
“And in the next two to three months, we are going to launch our affordable apartment project in Ijok with a gross development value of RM565 million,” he told reporters after the company’s annual general meeting here today.
Lim noted that there will be 1,520 units of Melodi Perdana affordable apartments, with prices starting at RM380,000.
He also noted that the other property projects unveiled in 2019 include double-storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil Condominium, double-storey terrace houses in Bandar Putera Indah, Batu Pahat, as well as more than 1,000 affordable homes in Kita @Cybersouth.
“Our strategy of focusing on more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions,” he explained.
LBS, according to him, urged the government to extend its Home Ownership Campaign to encourage people, especially first-time home buyers, to buy their property at a discounted price.
“This is not only our wish but I’m sure its other property developers’ wish as well”.
Asked on the impact of the US-China trade war, Lim said he agreed with the government that the ongoing trade dispute between the two giants would be good for the country temporarily.
“We are seeing more Chinese investors coming to Malaysia in a big way, thanks to the their strong relationship...therefore we hope our industrial park, which is located in Teluk Gong, Klang, can be completed by year-end so that it could woo the investors setting up their business there,” he added. — Bernama
