KUALA LUMPUR (May 3): Property developer LBS Bina Group Bhd is still confident of achieving its RM1.2 billion sales target set for 2016, despite the slower property market.

Year-to-date, the group's total sales stood at RM270 million.

"LBS is confident of remaining on track to achieve the next target of 20% increment in total sales this year," managing director Tan Sri Lim Hock San announced at the launching ceremony of its development project today.

LBS Bina had achieved total sales of RM1.029 billion last year, up 60% from 2014.

Speaking to reporters after the ceremony, he said properties in the affordable range are still selling, though high-end properties have been greatly affected.

"It depends on products and location," he said.

He pointed out that the property market is not as bad, but not so vibrant like it used to be.

The group's unbilled sales  currently stands at RM1.16 billion. With its bank of 2,530 acres, Lim said LBS Bina is on course to launch more projects with a mix of high-rise and landed residential and commercial developments.

At 4.51pm, shares of LBS Bina were traded unchanged at RM1.59, for a market capitalisation of RM892.22 million.