LBS to launch RM2.65b GDV of projects in 2021

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Leading township developer LBS Bina Group Berhad strategises toward a plan for 2021 with launches valued at an estimated Gross Development Value (GDV) of RM2.65 bil. Despite the current market challenges due to the COVID-19 pandemic, LBS constantly adapts itself with the new norm by shifting marketing strategies by further penetrating the digital platforms. 

New developments in the pipeline in Klang Valley include new phases at the KITA @ Cybersouth township in Dengkil which consist of KITA Sejati serviced apartments, KITA Mekar double-storey terrace houses, KITA Mesra single and double-storey terrace houses as well as double-storey townhouses. 

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

In the Pahang region, new projects include Bayu Hills serviced apartment in Genting Permai, and Cameron Centrum double-storey terrace houses. Other projects to be unveiled are 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.

Speaking at LBS 2021 Media Briefing, LBS Group managing director Tan Sri Lim Hock San explained that affordability remains the key concern for homebuyers and therefore, the group will take a conservative approach and continue to focus their strategy of building properties and townships based on the 3 main pillars of Affordability, Connectivity and Community.

“While embracing the constantly evolving technologies in the digital age, LBS’s digital platforms were ready and marketing team was able to get in touch with the prospective buyers via various platforms even before the pandemic, which includes virtual show units and website,“ he added.

LBS registered sales of RM1.2 billion in year 2020, exceeding its revised target of RM1 billion, despite the challenging market.

“Amid stringent housing loan regulations, but with the right product and marketing campaign, together with initiatives under National Budget 2021 that bode well to economy recovery and encourage homeownership, property sales momentum is picking up significantly,”Lim elaborated.

In 2020, LBS launched a total of 14 projects with a GDV of RM1.49 billion across KITA @ Cybersouth and LBS Alam Perdana two key township projects, Bandar Putera Indah township and Taman Kinding Flora.

LBS has 19 ongoing development projects with an estimated GDV of RM4.95 bil. As at 31 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 bil, expected to provide clear earnings visibility for the group in the next two to three years.

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