PETALING JAYA: LBS Bina Group Bhd’s (LBS) land bank is now estimated at a gross development value (GDV) of RM33bil, and this is projected to keep the company occupied for the next 10 to 15 years.
According to LBS group managing director Tan Sri Lim Hock San, the undeveloped land bank now totalled at 3,610 acres, and are strategically located at Klang Valley, Pahang, Perak, Johor and Sabah.
On another note, LBS has secured RM317mil sales and garnered RM305mil in bookings as at June 2020. LBS also recorded revenue of RM299mil and profit before tax (PBT) of RM24mil in the first quarter ended Mar 31, 2020. Moreover, with a total unbilled sales registering at RM1.805bil as of May 29, 2020, it provides strong earnings’ visibility for LBS.
The group attributed the revenue and profit before tax to the strong take-up rates for its townships and affordable housing developments. Lim said LBS recently launched Kita Ria serviced apartment at the Kita@Cybersouth township in Dengkil, and the project has garnered a healthy take-up rate, with its first block fully booked.
To continue catering to market demand, LBS is planning to launch several projects with a combined estimated GDV of RM1bil in the next few months. These new launches include the Kita Mekar single-storey, double-storey houses and townhouses in Kita@Cybersouth. Meanwhile, new projects in LBS Alam Perdana township in Bandar Puncak Alam include Rita Perdana townhouses and terrace houses as well as the second block of Melodi Perdana apartments. The bulk of the upcoming launches is derived from the affordable segment below RM500,000.
LBS will also continue to develop projects and township using industrial building system (IBS) technology. IBS is increasingly being recognised as a reliable method to reduce construction time, on-site labour and reduce dependency on foreign labour. “With the recent reintroduction of the Home Ownership Campaign, it will reduce the burden of homebuyers significantly, and LBS #DudukRumah Deals Plus Campaign will further incentivise homeownership,” said Lim.