PETALING JAYA: Township developer LBS Bina Group Bhd (LBS) aims to achieve a sales target of RM1.6 bil this year from RM1.63 bil in 2019, underpinned by positive underlying demand for its new projects.
Group managing director Tan Sri Lim Hock San said LBS will be launching RM2.321 bil worth of properties in 2020, focusing on the central region.
“The developments are predominantly new phases of on-going developments including KITA @ Cybersouth township, LBS Alam Perdana township and Midhills 2,” he said during a Media Outlook 2020 briefing on Jan 6.
He said there will be 11 new projects in total for the year, with seven below RM500,000 per unit and the remainder above RM500,000.
Lim also said as at Dec 31, 2019, LBS has a total of 18 ongoing projects with a gross development value (GDV) of RM4.5 bil, with a balance available of RM982 mil for sale and unbilled sales amounting to RM2.243 bil.
He said the company has done various surveys to learn about market sentiment and has been working in the past six months on what to offer buyers for 2020.
“Despite the challenging market conditions, we are confident that we can achieve the target, tracking the better commodity prices such as palm oil and the lower interest rate level, which will lead to lower instalment payments.
“We think the market sentiment is positive to a certain extent, depending on the location and situation. However, this does not mean that we can simply increase house prices as we do not compromise on quality,” said Lim.
The company still has 1,469 hectares worth of land bank as of Dec 31, 2019.
Meanwhile, Lim said as part of its 2020 initiatives, LBS will be running the “LBS Fabulous 2020” campaign to reward home buyers.
“With the purchase of selected LBS properties worth RM300,000 and above, buyers will stand a chance to win prizes worth a total of RM1 mil,” he said. – Jan 6, 2020, Bernama