LBS to launch two projects worth RM962m this year

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GOMBAK (July 18): LBS Bina Group Bhd (LBS) is targeting to launch two landed property projects in the Klang Valley with a combined GDV of some RM962 million within the next two months, said group managing director Tan Sri Lim Hock San.

First up will be phase 3 of Alam Perdana, which is expected to be unveiled next week, Lim told reporters after a MoU signing ceremony between the developer and Tunku Abdul Rahman University College (TARUC) today.

"With a GDV of RM474 million, Phase 3 of Alam Perdana consists of 856 [units of] 2-storey link houses and 28 semi-dees with prices from RM509,900 and RM850,000, respectively," he said.

"We are very confident that the sales will be good given that Phase 1, which was launched in October last year, is already fully sold," he added.

Next up will be the Phase 1 of Cybersouth in Dengkil, which is estimated to have a GDV of RM488 million.

Targeted to be launched in September, the project comprises 379 units of 20ft by 60ft 2-storey linkhouses and 698 units of 22ft by 75ft townhouses with prices from RM530,000 and RM399,900, respectively.

Looking ahead, Lim said that the developer is working on an affordable apartment project in Cybersouth, which is expected to have a price tag of around RM300,000 for a 900 sq ft unit.

Meanwhile, he noted that the North Tower of Residensi Bintang Bukit Jalil, which was launched in end-2017, has achieved a take-up rate of 52% for the 730 condominium units in the tower.

With built-ups of 805 to 1,209 sq ft, the units are priced from RM525,350.

"[On average], we are selling more than 50 to 60 units [at Residensi Bintang Bukit Jalil] per month," he noted.

As of July 17, LBS has achieved a sales of RM914 million, about 54% up from RM593 million  in the same period last year, while the total unbilled sales as at end-June 2018 stood at RM1.7 billion.

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