LBS Bina targets RM1.8 bil in sales for 2018
Shalini Kumar 04 Jan 2018 15:55
LBS Bina Group Bhd group managing director Tan Sri Lim Hock San.

LBS Bina Group Bhd has set a sales target of RM1.8 bil for 2018, 60% of which would be contributed by the its affordable homes projects.

“We concluded 2017 on a high, and we need to continue to raise the bar by targeting to achieve RM1.8 bil in sales by the end of 2018.

“Looking ahead, we see that the demand for affordable homes continues to be the main need among home buyers,” says group managing director Tan Sri Lim Hock San at the its media briefing today.

This year, LBS Bina has lined up eight new launches with a total gross development value (GDV) of RM2.19 bil, including new phases of its Bandar Saujana Putra (BSP) township, LBS Cybersouth and its Emerald Garden 2 project in Johor.

The property developer saw sales of RM1.4 bil in 2017, slightly under its projected target of RM1.5 bil for the year.

LBS currently has a land bank of 1,663 ha with a total future GDV of RM29.04 bil. These include on-going developments comprising 123 ha and a remaining 1,540 ha reserved for future developments.

As for LBS’ Zhuhai Circuit development project in China, Lim says it is still debating on whether to launch an initial public offering or to take the joint venture route for it, and will make a decision by the fourth quarter of this year.

He adds that there are no plans to sell the Zhuhai Circuit asset.

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