LBS Bina targets RM1.5bil sales in 2019

PETALING JAYA: LBS Bina Group Bhd is targeting sales of RM1.5bil this year, to be driven by future property launches in Cybersouth in Dengkil, Residensi Bintang Bukit Jalil, and LBS Alam Perdana.

Collectively, the three projects have a gross development value (GDV) of RM1.61bil and is expected to contribute some RM1.2bil in sales.

Despite a subdued property market outlook due to persistently cautious market sentiment and a slower global economic growth, LBS is confident of sustaining its RM1.5bil sales target for 2019 and its growth prospects, with total unbilled sales amounting to RM1.745bil as of December 31, 2018.

In 2018, the group achieved sales of RM1.5bil, marking the fourth consecutive year of improved results with a strong 25% compounded annual growth rate (CAGR) from 2014 to 2018.

The property projects to be unveiled in 2018 include double storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil condominiums, double storey terrace houses in Bandar Putera Indah, Batu Pahat, as well as more than 1,000 affordable homes in Kita @ Cybersouth.

Speaking at LBS’s 2019 outlook briefing, group managing director Tan Sri Lim Hock San said there is still strong underlying demand for quality and affordable units.

“Our strategy to focus on more affordable units within self-sustaining and matured townships, with good designs, amenities, and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions.

“We have a good track record in providing strong product offerings which meet the needs of home buyers, at the right time, and more importantly, at the right price range,” he said.