PETALING JAYA: LBS Bina Group Bhd is aiming for RM1.6bil sales this year, on the back of the property developer’s plan to launch 14 new projects with a gross development value (GDV) totalling RM1.77bil.

       These projects, consisting of 3,733 units, will be located in the Klang Valley, Johor, Pahang and Perak.

       Executive chairman Tan Sri Lim Hock San pointed out that in 2021, the group surpassed its RM1.2bil sales target, ending the year with RM1.57bil in property sales.

       “LBS recorded a steady performance in 2021 despite a tough year for businesses.

       “Not only did we manage to surpass our 2021 property sales target by 31%, we also successfully handed over vacant possession of 2,570 units worth RM1.3bil.

       “It is indeed worthwhile being able to provide affordable homes to the community and seeing them happy when they received the keys to their new homes,” he said at a media briefing.

       Lim added that he is cautiously optimistic the property market will make a comeback this year, provided there is no major Covid-19 outbreak which will result in lockdowns.

       In 2021, LBS Bina launched 3,344 residential units worth RM1.6bil at its KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil and Prestige Residence in Seri Kembangan within the Klang Valley.

       Other launches last year included terrace houses in Bandar Putera Indah township, Batu Pahat, and new phases at Taman Kinding Flora, Chemor.

       Lim also opined that housing prices may increase due to the rise in the cost of building materials.

       LBS Bina Group Bhd executive chairman Tan Sri Lim Hock San

       “Property prices will go up because building material prices have gone up. But we cannot simply increase prices as we need to make sure people can still afford to buy,” he said.

       Lim pointed out that the group has partnered the Selangor state government on the Rumah Selangorku Idaman MBI project to deliver 7,210 affordable homes with a GDV of RM2.01bil at six locations.

       LBS Bina targets to launch four Rumah Selangorku Idaman MBI in 2022 – Idaman BSP (Bandar Saujana Putra), Idaman Cahaya (Shah Alam), Idaman Sari (Puchong) and Idaman Melur (Cybersouth).

       Meanwhile, Idaman KITA (Cybersouth) and Idaman Perdana (Bandar Puncak Alam) are due for launch in 2023.

       In the Klang Valley, which contributed the highest sales to the group in 2021, LBS Bina plans to launch 2,604 residential units with a GDV of RM1.11bil this year.

       Lim pointed out that as at Dec 31, 2021, the group’s land bank stood at 2,744 acres, which would keep it busy for the next 10 to 15 years.

       “LBS Bina has 18 ongoing development projects with an estimated GDV of RM5.3bil.

       “In addition, the group has unbilled sales of RM2.3bil, which is expected to provide clear earnings visibility over the next two to three years,” he said.

       He added that the group will continue to maintain its dividend policy to pay out at least 30% of its profit after tax.

       Lim noted that despite a challenging 2021, the group had recorded strong property sales with the aid of digital marketing initiatives and the use of Industrialised Building System precast technology.

       To kickstart 2022, LBS Bina has launched the “Bring Happiness Home” campaign, which rewards home buyers with a total of RM438,888 Chinese New Year angpows.

       Under this campaign, which runs from Jan 1 to Feb 28, 2022, LBS Bina offers furnishing packages, low booking fees, loyalty rewards, flexi payment schemes and zero-exit fees.

       The group is also waiving legal fees and stamp duty on loan agreements for all home buyers when they buy from a selection of LBS Bina’s residential properties.