PETALING JAYA (Jan 5): LBS Bina Group Bhd achieved RM1.575 billion in property sales in 2021, surpassing its RM1.2 billion target.
In a media briefing on Wednesday (Jan 5), LBS Bina announced that its property sales target for 2022 is RM1.6 billion, to be achieved by 14 planned launches that will cover the Klang Valley, Johor, Pahang and Perak. This will amount to 3,733 units with a gross development value (GDV) of RM1.77 billion.
LBS Bina Executive Chairman Tan Sri Lim Hock San said that even with a tough 2021, the group still managed to surpass its sales target by 31%.
“We are cautiously optimistic that the property market will bounce back this year… We also successfully handed over vacant possession of 2,570 units worth RM1.3 billion,” he added, highlighting that it is great to be able to provide affordable homes to the community.
Lim also announced that the Klang Valley provided the highest sales contribution in 2021.
“[For the Klang Valley area], LBS Bina intends to launch 2,604 units with a total GDV of RM1.11 billion this year. Specifically for the KITA @ Cybersouth township, LBS will launch 2,128 units with RM853 in GDV. Within KITA @ Cybersouth, LBS aims to develop KITA Sejati serviced apartments, KITA Bestari single- and double-storey terraced houses and double-storey townhouses in 2022,” Lim shared.
In addition, Lim also stated that there is a plan to launch a new phase of Melodi Perdana serviced apartments at the LBS Alam Perdana township (321 units with a total GDV of RM120 million) and Astella at D’Island Residence (155 units with a total GDV of RM132 million).
Other new projects include Bayu Hills apartment in Genting Highlands (642 units with a total GDV of RM492 million), Taman Kinding Flora single-storey cluster link and terraced houses in Chemor, Perak (248 units with a total GDV of RM64 million), as well as the Emerald Garden 3 single-storey terraced houses, Royal Garden double-storey semi-dee houses and Laman Bayu 4 double-storey terraced house in Bandar Putera Indah, Johor (239 units with a total GDV of RM108 million).
In 2021, LBS Bina launched 3,344 units worth RM1.6 billion, which include developments across KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil and Prestige Residence in Seri Kembangan within the Klang Valley. Other launches include terraced houses in the Bandar Putera Indah township in Batu Pahat and new phases at Taman Kinding Flora, Chemor.
Lim shared: “LBS Bina is in full support of Selangor government’s initiatives to develop affordable housing for the general public. This is evidenced by LBS’ joint partnership with the state government on the Rumah Selangorku Idaman MBI project to deliver 7,210 affordable homes across six locations with a total GDV of RM2.01 billion.
“LBS Bina targets to launch four Rumah Selangorku Idaman MBI (projects) in 2022, namely Idaman BSP in Bandar Saujana Putra, Idaman Cahaya in Shah Alam, Idaman Sari in Puchong and Idaman Melur in Cybersouth. Whereas, Idaman KITA @ Cybersouth and Idaman Perdana in Bandar Puncak Alam are scheduled to launch in 2023”.
LBS Bina also announced it has 18 ongoing development projects with an estimated GDV of RM5.3 billion. The group’s landbank stood at approximately 2,744 acres as at Dec 31, 2021.
In addition, the developer has unbilled sales of about RM2.304 billion, which are expected to provide clear earnings visibility over the next two to three years. It also garnered strong property sales with the aid of digital marketing initiatives and the use of its IBS (Industrialised Building System) precast system. Other contributors include its Virtual Property Page and digital campaigns such as the Ox-picious 8, Raikan Rezeki Bersama LBS, Vacci-Nation Bonanza and Fabulous 20-21 Lucky Draw.
To kickstart the year, LBS Bina has launched the Bring Happiness Home campaign from Jan 1 to Feb 28, which will reward customers with a total of RM438,888 Chinese New Year angpows. This campaign offers furnishing packages, low booking fees, loyalty rewards, flexi payment schemes and zero exit fees. Additionally, legal fees and stamp duty on loan agreements will be waived for all homebuyers when they purchase from a selection of LBS Bina’s residential properties.
“Enhancing the stakeholder value has [also] been a priority for us and we will continue to maintain our dividend policy to pay out at least 30% of the profit after tax,” said Lim.
As for the Home Ownership Campaign, Lim agreed that it should be extended since the scheme has a positive impact on the industry. He also shared that building material prices are increasing, hence people are likely to only focus on buying existing projects and not new ones.