Thursday 28 Mar 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on February 17, 2020 - February 23, 2020

LBS Bina Group Bhd is looking to launch two projects — Kita Ria in Cybersouth, Dengkil, and Vines 3 in Cameron Golden Hills, Cameron Highlands — next month.

Speaking to the media after the launch of the LBS Fabulous 2020 campaign, group managing director Tan Sri Lim Hock San said these two projects were among the group’s first projects for the year, which would contribute to its 2020 sales target of RM1.6 billion.

“We are confident that we can achieve the sales target based on two factors… First is the LBS Fabulous 2020 campaign and second is the interest rate, which fell by 25 basis points. Purchasers can enjoy lower payback (monthly) instalments now,” he added.

Last month, Bank Negara Malaysia cut the overnight policy rate by 25bps to 2.75%. The OPR is now at its lowest point since March 2011. It was last trimmed to 3% from 3.25% last May.

Kita Ria is a 812-unit serviced apartment development. With a gross development value (GDV) of RM268.4 million, these units will be priced from RM250,000. The project is located within the gated Kita @ Cybersouth township.

Meanwhile, Vines 3 will have 41 two-storey terraced houses measuring 20ft by 60ft and priced above RM500,000 each. The development is expected to have a GDV of RM34.8 million.

The LBS Fabulous 2020 campaign, which will run from Jan 1 to Dec 31, comes with 

RM1 million worth of prizes, including the Proton X70 Premium 2WD, Proton Exora, Proton Persona, Proton Iriz, SM Sport R110 motorcycles, mountain bikes, washing machines, refrigerators and mini hi-fi systems.

Three rounds of lucky draws will be held: in May 2020; October 2020; and April 2021. Purchasers of LBS properties priced above RM250,000 from the list are eligible to participate in this campaign.

At the launch of the campaign earlier, Tan noted that it was not as easy as before to own a good home in today’s challenging economic situation.

“But, at LBS, we always have our homebuyers’ interest at heart and we will do our very best to add value to their purchase. That’s why the LBS Fabulous 2020 campaign hopes to bring a broader smile to their faces anytime they decide to make an LBS property their home this year,” he said.

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