Figures released from the National Property Information Centre may Indicate that the market is heavily focused on the development of stratified residential properties, but that does not mean that demand for landed properties has diminished, says major industry player LBS Bina Bhd.
The company said, from its perspective, landed property sales continue to be strong and it is looking to roll out more landed units next year as a result of extensive studies conducted on the market.
Managing director Tan Sri Lim Hock San (pictured) said demand for landed properties remain stable and LBS has the muscle to launch more landed properties as it is sitting on a landbank of 2,500 acres, which was mostly purchased at reasonable prices.
“We are lucky that our land cost was not high. If you have a very high cost, you cannot sell your house between RM500,000 and RM600,000,” he said, indicating that the company is catering to this price range within upcoming prjects.
Most of LBS’s parcels are located in the Klang Valley, Pahang and Johor. This year, LBS is targeting to launch new projects with a total gross development value (GDV) of around RM1.5 billion.
The projects include its BSP 21 in Bandar Saujana Putra and Desiran Bayu in Puchong which have a GDV of RM815 million and RM375 million respectively.
BSP 21 comprises 1,437 units of high-rise residential units while the Desiran Bayu development comprises 598 units of double-storey terrace and semi-detached houses.
“For BSP 21, we have 10 blocks. About 94 per cent of the first five blocks have already been sold. The remaining five blocks will be launched soon while Desiran Bayu is expected to be launched in July,” Lim said.
Other launches include Corallia, a two-phase collection of semi-detached homes and a two-block 17-storey condominium Skyvilla which are components of D’Island Residences, a project nestled in an exclusive 175-acre piece of land that is surrounded by a 1,000-acre lake in the heart of Puchong.
The 19-acre Corallia project comprises 142 units and has a GDV of RM240 million.
Meanwhile, LBS recently clinched the Brand Laureate Most Valuable Brand Award for Property Industry 2016 at the Brand Laureate Best Brands Awards 2015-2016 held recently.