By Jonathan Roberts
Bullish outlook: (from left) LBS Bina Group Bhd executive director Datuk Wira Joey Lim Hock Guan, managing director Tan Sri Lim Hock San and executive director Datuk Cynthia Lim at a briefing on the company’s outlook. LBS Bina is targeting a 15 growth in sales year-on-year to RM1.5bil in 2017.
PETALING JAYA: LBS Bina Group Bhd (LBS Bina) surpassed its sales target of RM1.2bil for year 2016 at RM1.238bil.
In a recent media briefing, LBS Bina Group managing director Tan Sri Lim Hock San attributed the success of last year to their understanding of the public’s needs, which included the championing of affordable housing.
The strategy was implemented in face of a sluggish market and a high loan rejection rate from the bank.
He also announced a total of 12 new launches consisting of 5,543 units with a Gross Development Value (GDV) of RM2,347bil for year 2017.
Of all the new launches, 92% will be residential while the remaining 8% are non-residential developments.
LBS Bina has set a target of RM1.5bil for this year and is optimistic that its strategy will help them achieve this goal.
“Homebuyers can look forward to the launch of residential properties within the price range of RM500,000 to above RM500,000 over the next 12 months,” Lim said.
Most of these projects are based in the Klang Valley.
The developments are located in Bandar Saujana Putra, Puchong, which consist of D’Island Residence, Langit and Lake and Desiran Bayu, as well as Bukit Jalil, Alam Perdana and CyberSouth.
Outside the Klang Valley, LBS Bina has projects such as Cameron Centrum and Cameron Golden Hills in Cameron Highlands along with Bandar Putera Indah in Batu Pahat, Johor.
Lim is optimistic about the market outlook for 2017.
“Monies flowing in from Chinese investors are going to help businesses in Malaysia. And with the ringgit being weak, many tourists will come here and spend.
“On top of that, oil prices are slowly recovering. All this will stimulate our economy. Hence, in my opinion, the property market could pick up in the third or fourth quarter of 2017,” he said.
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