LBS refines its strategy

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Lim presenting the group's direction and key developments for 2021.

Lim presenting the group's direction and key developments for 2021.

PETALING JAYA: Township developer LBS Bina Group Bhd (LBS) is refining its strategies toward a plan for 2021 with launches valued at an estimated gross development value of RM2.65bil. 

Despite the current market challenges due to the Covid-19 pandemic, LBS continues to adapt to the new norm, shifting marketing plans by further penetrating the digital platforms. 

Confident that 2021 will be yet another exciting year for the group, LBS group managing director Tan Sri Lim Hock San said new developments are in the pipeline in Klang Valley.

These 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. 

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. Service apartments Mercu Jalil @ Bukit Jalil and Prestige Residence @ Seri Kembangan are also in the works.

In Pahang, new projects include Bayu Hills serviced apartment in Genting Permai and Cameron Centrum double-storey terrace houses. 

Other projects to be unveiled include 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, Lim said: “Affordability remains the key concern for homebuyers and therefore, we will take a conservative approach and continue to focus our strategy of building properties and townships based on the three main pillars of Affordability, Connectivity and Community.

“While embracing the constantly evolving technologies in the digital age, LBS’s digital platforms were ready and the 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 explained.

LBS aims to achieve RM1.2bil in sales for 2021. From left are Isaac, Richard, Joey, Lim, Barry, Cynthia and Lucas.

LBS aims to achieve RM1.2bil in sales for 2021. From left are Isaac, Richard, Joey, Lim, Barry, Cynthia and Lucas.

Also present at the event were LBS executive directors Datuk Wira Joey Lim, Datuk Seri Barry Lim, Datuk Cynthia Lim and Lucas Lim as well as MGB Bhd executive director and CEO Datuk Richard Lim and executive director and deputy CEO Isaac Lim.

LBS registered sales of RM1.2bil in 2020, exceeding its revised target of RM1bil 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 economic recovery and encourage homeownership, property sales momentum is picking up significantly,” Lim elaborated.

Last year, LBS launched a total of 14 projects with a GDV of RM1.49bil 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 RM4.95bil. As at Dec 31 2020, LBS owns a 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 RM2.225bil, expected to provide clear earnings visibility for the group in the next two to three years.


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