IJOK (Aug 18): LBS Bina Group Bhd will be launching a new township in Dengkil by September or October.
“We will be launching our next township project in Cyber South, Dengkil by September or October, subject to the approval of the authorities and APDL [advertising permit and developer license],” said LBS Bina Group managing director Tan Sri Lim Hock San at a press conference here today.
He said LBS plans to build 3,000 affordable home priced at RM300,000 in the Dengkil project to support the government’s target of increasing affordable homes in the nation.
“We have studied the market and understand that affordable landed home is very much in demand. We wants to build what the market needs. Therefore, besides other landed products, we are also planning to build 3,000 houses at a selling price of RM300,000 in Dengkil,” Lim added.
He explained that the plan to build more affordable homes in Dengkil township project is possible due to the new Sales and Service Tax (SST) which does not apply on building materials.
“As a listed company, we have to be responsible to our shareholders. It is true that the profit will be less [for building 3,000 affordable homes in Dengkil project], but we will make sure there is profit to do this,” he shared.
Though he declined to reveal the name of the new township in Dengkil, he told EdgeProp.my that the project has a land size of 633 acres.
“It is a leasehold Malay reserve land, so we will be target the group [for this project]. Bear in mind that we have launched several hundreds of landed homes there. The response was very good. The key is reasonable price and good concept,” he told EdgeProp.my in an exclusive interview after the press conference.
He added that the first phase of the Dengkil township, which will be launched in September or October, consists of 379 units of 2-storey linked houses and 698 units of 2-storey townhouses.
The link houses have a land size of 20ft by 60ft and will sell for RM530,000, while the townhouses have a land size of 20ft by 75ft and will be priced at RM399,000.
“The gross development value [GDV] for the first phase is RM493 million. However, we do not have the GDV for the overall project yet because there are some parcels where we haven't decide what to build yet,” Lim said.
Moving forward, he said the developer will be focusing more on landed property, which he believes it is the product that is in short supply in the current market.
“We are looking for more landbank for township developments because we believe landed affordable projects are very in demand. Besides here in Ijok and Dengkil, we have land for future township development in Kulai and Ipoh,” he added.