LBS Bina hopes to hit RM430m sales in H1


  • Business
  • Wednesday, 15 Jan 2003

BY HONG BOON HOW

LBS Bina Group Bhd is looking at property sales of RM430mil for the group in the first six months of the year. 

LBS Bina managing director Datuk Lim Hock San said that the property-based group was planning to launch more than 4,800 residential and commercial units in the 1st half of the year. 

Datuk Lim Hock San

“We are confident of securing good sales from our launches as there is still growing demand for property in good locations,” Lim told StarBiz during an interview. 

LBS Bina sold 2,981 property units worth RM334.8mil last year, up from 3,188 units, with a sales value of RM256.7mil in 2001. Last year, the company completed and handed over more than 2,700 units to its customers. 

According to Lim, LBS Bina has a landbank totalling 2,800 acres in strategic locations in the Klang Valley, the Cameron Highlands, Ipoh and Batu Pahat. 

“With the low interest rates for house loans, we strongly feel that house buyers are taking the opportunity to acquire new homes for their own occupation as well as for investment purposes,” he said. 

Lim also said the group would hold a property fair at the Sunway Pyramid from Feb 12 to Feb 23. The fair will be officially opened by Housing and Local Government Minister Datuk Seri Ong Ka Ting on Feb 13. 

“The property fair will enable house buyers to have an overview of all housing projects from our group and to choose their preferred location,” he said. 

Lim said LBS Bina sold more than 50% of the 496 units of shops and apartments in Taman Royal Lily housing project in Tanah Rata, Cameron Highlands, within a month of its launch. 

“We will launch our Taman Royal Lily double-storey terrace houses and bungalow lots in March, and we are expecting sales of RM23.5mil from this phase,” he said. 

Lim also said LBS Bina had sold more than 62% of the 277 single-storey terrace houses in its Bandar Putera Indah project in Batu Pahat, Johor, within two months of the launch. 

He said LBS Bina was looking at sales value of RM18mil from a 13-storey serviced apartment project in Jalan Tuanku Abdul Rahman in Kuala Lumpur. 

The project, a joint venture between the company and Yayasan Wilayah Persekutuan, will be launched in the 2nd quarter of this year for completion in 2006. 

Lim also said the company was targeting sales of RM11mil from its latest launch, the Puncak Jelapang Indah housing project in Ipoh, comprising 33 double-storey terrace houses, 37 one-and-a-half-storey terrace houses, and 38 single-storey houses.  

Other LBS Bina projects to be launched in the first six months of this year include: 

·266 units of Casa Tropicana condominiums at the Tropicana Golf and Country Club in Petaling Jaya, with built-up area from 995sq ft to 1,533sq ft and priced from RM200,000 upwards; and 26 units of double-storey semi-detached houses priced from RM428,800 upwards in Taman Pinggiran Putra, Seri Kembangan, Selangor; 

·100 units of single-storey semi-detached houses priced from RM139,900 upwards and 53 units of single-storey terrace houses priced from RM99,900 upwards in Bandar Putera Indah; and,  

·1,440 units of low-cost apartments priced at RM42,000 with built-up area of 650sq ft, and 800 units of low medium-cost apartments priced at RM72,000 with built-up area of 750sq ft, at Bandar Saujana Putra next to Putra Heights in Subang Jaya.  

Lim also said the company had identified Taman Pinggiran USJ as a new strategic location in Subang Jaya due to its proximity to the vibrant and fast growing townships of USJ, Shah Alam and Petaling Jaya.  

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