Multiple award-winning developer LBS Bina Group Bhd says it is heading into the new year with a strong commitment to Malaysian home buyers, citing that 92 per cent of its development focus will be on residential units.
According to LBS Bina group managing director Tan Sri Lim Hock San, this continues the positive momentum for the company, which has performed remarkably well under the prevailing soft market conditions.
In the wake of a successful year, LBS Bina has delivered a total of 1,971 residential and non-residential units, enabling the group to achieve an impressive RM1.238 billion in sales (as at Dec 31, 2016) surpassing its initial target of RM1.2 billion.
The company said that more than 1,360 units of the total homes it launched last year were priced below the RM500,000 mark and contributed to 70 per cent of the group’s total sales. Meanwhile, 87 per cent of its developments were delivered within the Klang Valley while the remaining 13 per cent comprised developments located in Ipoh, Pahang and Johor.
Lim said LBS Bina’s continued resilience can be attributed to its ability to apply the right strategy, with the right offerings, at the right time.
“We understand the challenge home buyers face when it comes to finding homes closer to urban townships for better accessibility to work and amenities. This year, we will continue to focus our efforts on providing more residential options within the Klang Valley,” he said.
“Home buyers can look forward to the launch of residential properties with prices ranging from below RM500,000 to above RM500,000 over the next 12 months.”
In 2017, LBS Bina is looking at a total of 12 new launches and approximately 5,543 units that represent a combined gross development value (GDV) of RM 2.349 billion. Some 4, 284 units will be affordable homes priced below RM500,000.
Understanding the importance of accessibility and location to affordable home seekers, LBS Bina assured that these quality yet affordable homes will be located within the Klang Valley.
In the Klang Valley, the developer is already engaged in key projects located in Bandar Saujana Putra in Puchong, Bukit Jalil, Alam Perdana and CyberSouth.
Projects outside the Klang Valley include Cameron Centrum and Cameron Golden Hills in Cameron Highlands, Pahang as well as Bandar Putera Indah in Batu Pahat, Johor.
Furthermore, LBS Bina said it will be ready to hand over about 1,127 homes worth RM463.2 million in GDV to buyers this year.
With so many positives in play, Lim said LBS Bina will continue to adopt a cautious but optimistic outlook in 2017.
“We believe home buyers recognise the value of a good development. It incorporates quality living spaces, convenient amenities and facilities, community living and connectivity. This is where LBS Bina excels, through years of experience developing a wide range of homes catering to the specific needs of home buyers, be it in the affordable, medium range or premium market segment,” Lim said.