LBS Bina plans launches with estimated total GDV of RM3b in next nine months

PETALING JAYA: LBS Bina Group Bhd aims to launch properties with a combined estimated gross development value of RM3 billion in the next nine months.

Among the new projects or phases in its pipeline are the group’s developments in KITA @ Cybersouth, Dengkil, Ritma Perdana and Melodi Perdana in the LBS Alam Perdana township, Bandar Puncak Alam, Vines 3 in Cameron Golden Hills, Emerald Garden 3 in Bandar Putera Indah, Batu Pahat, and Bayu Hills in Genting Permai.

According to the group’s managing director, Tan Sri Lim Hock San, more than 80% of its future project launches are located within the Klang Valley.

He pointed out that its sales performance is an indication of the group’s proven strategies in developing the right products that meet the market demand.

“As a result, our sales momentum has picked up tremendously and, as at 26 July 2020 LBS have achieved RM780 million sales”, Lim said in a press release.

To date, LBS has a total of 15 ongoing projects with an estimated GDV of RM4.3 billion as well as a landbank of 3,591 acres which is estimated to keep it busy for the next 10 to 15 years.

“We will continue our strategy to build more affordable townships based on our three core pillars of affordability, connectivity and community,” said the managing director.

As at July 15, the group’s total unbilled sales stood at RM 2 billion and with that it remains optimistic about its growth prospects in the current and near future.

At its AGM today, LBS received its shareholders’ approval for the payment of a first and final single tier dividend in respect of the financial year ended Dec 31, 2019 comprising the distribution of three treasury shares for every 100 existing ordinary shares held.

source https://www.thesundaily.my/business/lbs-bina-plans-launches-with-estimated-total-gdv-of-rm3b-in-next-nine-months-AM3178020