LBS Bina to launch 14 new projects with GDV of RM1.77b in 2022, says chairman

KUALA LUMPUR, Jan 5 — LBS Bina Group Bhd (LBS) planned to launch 14 new projects in 2022 — which will cover Klang Valley, Johor, Pahang and Perak — amounting to 3,733 units with a gross development value (GDV) of RM1.77 billion.

LBS executive chairman Tan Sri Lim Hock San said for the Klang Valley, which provided the highest sales contribution in 2021, LBS intends to launch 2,604 units with a total GDV of RM1.11 billion.

“Specifically, for the KITA @ Cybersouth township, LBS will launch 2,128 units with RM853 million in GDV.

Within KITA @ Cybersouth, LBS aims to develop KITA Sejati serviced apartments, KITA Bestari single and double-storey terrace houses and the double-storey townhouse in 2022.

To add on, LBS also plans to launch a new phase of Melodi Perdana serviced apartments at the LBS Alam Perdana township which consists of 321 units and a total GDV of RM120 million, and Astella at D’Island Residence with 155 units and a total GDV of RM132 million,” he said in a statement in conjunction with LBS annual media briefing today.

“LBS has 18 ongoing development projects with an estimated GDV of RM5.3 billion. As of December 31, 2021, LBS’s future landbank stood at approximately 2,744 acres (1,110 hectares), projected to keep the group busy for 10 to 15 years to come,” Lim said.

LBS surpassed its RM1.2 billion sales target in 2021, ending the year with RM1.575 billion in property sales, despite the country being hit by the Covid-19 pandemic, through various initiatives including digital marketing, Industrial Building Systems (IBS) precast, and the development of Virtual Property page.

It has also handed over 2,570 affordable homes worth RM1.3 billion in the same year.

To add on, the group is in full support of the Selangor government’s initiatives to develop affordable housing for the general public.

This is evidenced by LBS’s joint partnership with the Selangor State Government on the Rumah Selangorku Idaman MBI project to deliver 7,210 affordable homes across 6 locations, consisting of a total GDV of RM2.01 billion.

LBS targets to launch four Rumah Selangorku Idaman MBI projects in 2022, namely Idaman BSP (Bandar Saujana Putra), Idaman Cahaya (Shah Alam), Idaman Sari (Puchong) and Idaman Melur (Cybersouth), whereas Idaman KITA (Cybersouth) and Idaman Perdana (Bandar Puncak Alam) are scheduled to be launched in 2023.

LBS also launched the ‘Bring Happiness Home’ campaign which will reward lucky homebuyers with a total of RM438,888 Chinese New Year angpows which will run from January 1 until February 28, 2022, besides offering furnishing packages, waiving legal fees and stamp duty on loan agreements and other benefits.

Meanwhile, Lim did not rule out the possibility that house prices would increase by five to 10 per cent in the future following the rise in building material prices. — Bernama