LBS Bina Group Bhd managing director Tan Sri Lim Hock San at a media briefing for 2017.
KUALA LUMPUR: LBS Bina Group Bhd
plans to develop four towers of service apartments with an estimated gross development value of about RM600mil in Seri Kembangan, Selangor.
The 1,323 residential units, priced at affordable range targeted for first time homebuyers, working professionals and young families, would be built on 7.98 acres in Taman Lestari Perdana, said the property development and construction group.
It told Bursa Malaysia that its indirect wholly-owned subsidiary Utuh Aspirasi Sdn Bhd on Wednesday signed an agreement to buy the 7.98-acre leasehold land from Stratmont Development Sdn Bhd for RM63mil.
The development project on the land was estimated to span eight years, it said.
The proposed development is expected to start next year. LBS Bina said this would enable the group to make “fast turnaround” on the development land to the benefit of both the company and the unit buyers.
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