Petaling Jaya, 21 December 2011 – Property developer LBS Bina Group Berhad (LBS) foresees a challenging year ahead, but is confident of achieving its RM800 million sales target. The people-oriented developer also anticipates strong market demand and competition in the property sector generating higher value for Malaysian homebuyers.
LBS MD Dato' Lim Hock San
Landed property for both affordable homes and high-end homes are expected to be the highlight of 2012, with the increasing scarcity of land in urban areas. Property prices are expected to continue increasing although at a lower rate compared to this year.
While focusing on the high-end market, LBS will continue to offer quality lifestyle homes in the medium cost range.
Its experience and portfolio of some 30,000 affordable homes built makes it well-poised to meet the needs of middle income families. With the implementation of My First Home Scheme and other government initiatives, LBS anticipates this market to contribute 20% to its total revenue.
LBS has a strong pipeline – land bank of some 2,300 acres worth an estimated GDV of RM9.1 billion, that will keep it busy for the next few years.
This includes projects in D’Island Residence, Bandar Saujana Putra, Taman Golden Hills in Cameron Highlands and Bandar Putera Indah in Batu Pahat Johor.
LBS began with one man’s vision in the 1980s – founded as a construction business by Dato’ Seri Lim Bock Seng.
After a decade of rapid growth, LBS ventured into the property development sector in 1992 where it started its first project of Jelapang Maju Light Industrial Park in Jelapang, Ipoh.
