LBS Bina Group achieved RM1.575 billion in property sales last year and sets target of RM1.6 billion for 2022

PETALING JAYA (January 5): LBS Bina Group Bhd achieved RM1.575 billion in property sales in 2021, exceeding its target of RM1.2 billion.

During a press briefing on Wednesday January 5, LBS Bina announced that its real estate sales target for 2022 is RM1.6 billion, to be reached by 14 planned launches that will cover the Klang Valley, Johor, Pahang and Perak. . This will amount to 3,733 units with a Gross Development Value (GDV) of RM 1.77 billion.

LBS Bina Executive Chairman Tan Sri Lim Hock San said that even with a difficult 2021, the group still managed to exceed its sales target by 31%.

“We are cautiously optimistic about the rebound in the real estate market this year … We have also managed to sell vacant possession of 2,570 units worth RM 1.3 billion,” he added, noting that it is great to be able to provide affordable housing to the community. .

Lim also announced that Klang Valley provided the highest sales contribution in 2021.

“[For the Klang Valley area], LBS Bina intends to launch 2,604 units with a total GDV of RM 1.11 billion this year. Specifically for the township of KITA @ Cybersouth, LBS will launch 2,128 units with RM853 in GDV. Within KITA @ Cybersouth, LBS aims to develop KITA Sejati serviced apartments, KITA Bestari one and two-story townhouses and two-story townhouses in 2022, ”Lim explained.

In addition, Lim also said that there are plans to launch a new phase of serviced apartments Melodi Perdana in the township of LBS Alam Perdana (321 units with a total GDV of RM 120 million) and Astella in D ‘ Island Residence (155 units with a total GDV of 132 million ringgit).

Other new projects include the Bayu Hills apartment in Genting Highlands (642 units with a total GDV of RM 492 million), the one-story Taman Kinding Flora cluster link and townhouses in Chemor, Perak (248 units with a total GDV of RM64 million), such as as well as Emerald Garden 3 one-story townhouses, Royal Garden two-story townhouses, and Laman Bayu 4 two-story townhouse in Bandar Putera Indah, Johor (239 units with a total GDV of RM 108 million).

In 2021, LBS Bina launched 3,344 units worth RM 1.6 billion, which include developments through KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil and Prestige Residence at Seri Kembangan in the Klang Valley. Other launches include terraced houses in Bandar Putera Indah township in Batu Pahat and new phases in Taman Kinding Flora, Chemor.

Lim shared, “LBS Bina fully supports the initiatives of the Selangor government to develop affordable housing for the general public. This is evidenced by LBS’s joint partnership with the state government on the Rumah Selangorku Idaman MBI project to provide 7,210 affordable housing units at six sites with a total GDV of RM2.01 billion.

“LBS Bina aims to launch four Rumah Selangorku Idaman MBI (projects) in 2022, namely Idaman BSP in Bandar Saujana Putra, Idaman Cahaya in Shah Alam, Idaman Sari in Puchong and Idaman Melur in Cybersouth. While Idaman KITA @ Cybersouth and Idaman Perdana in Bandar Puncak Alam should be launched in 2023 ”.

LBS Bina also announced that it has 18 ongoing development projects with an estimated GDV of RM 5.3 billion. The group’s land reserve stood at approximately 2,744 acres as of December 31, 2021.

In addition, the developer has unbilled sales of around RM2.304 billion, which are expected to provide clear visibility into profits over the next two to three years. It has also recorded strong real estate sales through digital marketing initiatives and the use of its pre-fab Industrialized Building System (IBS). Other contributors include its virtual property page and digital campaigns such as Ox-picious 8, Raikan Rezeki Bersama LBS, Vacci-Nation Bonanza, and Fabulous 20-21 Lucky Draw.

To kick off the year, LBS Bina launched the Bring Happiness Home campaign from January 1 to February 28, which will reward customers with a total of RM438,888 Chinese New Year angpows. This campaign features furnishing packages, reduced booking fees, loyalty rewards, flexible payment systems and zero exit fees. In addition, legal fees and stamp duty on loan agreements will be waived for all homebuyers when they buy at select residential properties from LBS Bina.

“Improving value for stakeholders has [also] has been a priority for us and we will continue to maintain our dividend policy to pay out at least 30% of profit after tax, ”said Lim.

As for the homeownership campaign, Lim agreed that it should be extended as the program is having a positive impact on the industry. He also explained that the prices of building materials are rising, so people are likely to focus only on buying existing projects and not new ones.

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