For Immediate Release
LBS CONFIDENT TO LAUNCH PROJECTS WORTH RM3 BILLION IN THE NEXT 9 MONTHS
Proven strategies and right products meet market demand
Petaling Jaya, 27 July 2020 – LBS Bina Group Berhad (LBS) plans to launch properties with a combined estimated Gross Development Value (GDV) of RM3 billion in the next 9 months. New projects or phases in the pipeline includes KITA Sejati, KITA Mekar in KITA @ Cybersouth, Dengkil, Ritma Perdana and new block of Melodi Perdana apartment in 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.
Speaking at the LBS Post 20th AGM Media Briefing, LBS Group Managing Director, Tan Sri Lim Hock San said, “More than 80% of our future project launches are located in the Klang Valley region.”
“Our strong 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”. said Tan Sri Lim Hock San.
Over the past 3 years, LBS has handed over 5,526 units properties. In year 2020 and 2021, we are targeting to handover a total of 7,181 units.
To date, LBS has a total of 15 ongoing projects with an estimated GDV of RM4.3 billion. As at 30 June 2020, LBS owns future landbank of 3,591 acres. This land bank is projected to keep the company busy for the next 10 to 15 years. “We will continue our strategy to build more affordable townships based on our 3 core pillars of Affordability, Connectivity and Community,” said Tan Sri Lim Hock San.
As at 15 July 2020, LBS total unbilled sales stood at RM 2 billion. With this billing in progress, LBS remains optimistic about its growth prospects in the current and near future.
At the AGM earlier, the group received shareholders’ approval for the payment of a First and Final Single Tier Dividend in respect of the financial year ended 31 December 2019 comprising Treasury Shares distribution in the ratio of 3 Treasury Shares for every 100 existing Ordinary Shares held.