LBS Bina Group exceeds 2022 sales target by 25pc, aims to maintain RM2b sales this year
KUALA LUMPUR, Jan 10 — LBS Bina Group Berhad today celebrated RM2 billion in property sales in 2022, which is 25 per cent beyond its initial target of RM1.6 billion.
The group’s executive chairman Tan Sri Lim Hock San said this achievement was done under the pressure of the uncertain global economic climate and geopolitical issues.
“We are glad to have finished off 2022 on a strong note. Surpassing our 2022 property sales target by 25 per cent is a remarkable achievement and an indication that our developments are situated in strategic locations at an affordable price range which matches the needs of the public.
“On reflection, being able to continuously launch our developments throughout 2022 has been no easy feat in light of the challenging economic climate, worsening supply chain, and geopolitical uncertainty,” Tan said during a media briefing at the KITA @ Cybersouth Sales Gallery in Dengkil this morning.
He said the achievement was owed to their team of creative marketers, the location of their developments, and their affordability.
Among the units sold, 90 per cent was based in the Klang Valley while Pahang contributed 5 per cent, Johor contributed 3 per cent and the remaining 2 per cent came from Perak.
In the spirit of heading towards better goals, Tan said the group’s property sales target for 2023 is set for RM2 billion, maintaining its performance last year.
“This year, despite the economic uncertainties in the global landscape, seeing the Russia-Ukraine war and the hike of interest rates in the United States, we have set a target of RM2 billion.
“We are confident that we can achieve it because we think that the environment is better now,” he said.
In 2022, LBS Bina Group launched a total of 10 projects, creating 4,910 units in the Klang Valley, Pahang, Perak, and Johor.
This year, the group aims to launch 4,021 units from 12 projects in the same locations, with 51 per cent of the new properties in the Klang Valley, 23 per cent in Johor, 23 per cent in Pahang, and 3 per cent in Perak.
The projects in the Klang Valley are the link houses and townhouses within KITA Bestari in Cybersouth, Astella terrace houses at the D’Island Residence in Puchong, and Block B of LBS’ Prestige Residence in Seri Kembangan.
In Perak, the group is planning to launch more phases of single-storey terrace houses and cluster link houses in Taman Kinding Flora, Chemor.
In Johor, future homeowners can expect to see the launch of the Zenit Molek serviced apartment in Taman Molek, the Imperial Garden double-storey semi-detached apartment, and Emerald Garden single-storey linked houses in Bandar Putera Indah in Batu Pahat.
New projects within the Pahang region include the Bayu Hills serviced apartment in Genting Highlands.
When asked about the potential dangers of landslides in their highland developments in Genting Highlands and Cameron Highlands, Lim said one landslide in the area does not equate to landslides in all developments.
“As far as we are concerned, we follow the EIA guidelines and see if it gets approved. If it is not approved, we won’t touch (the project)," he said, referring to the environmental impact assessment.
“I also encourage all my people to monitor the slope, the drainage, and everything. This should be done to prevent it from happening.”
He said monitoring efforts will continue even after the project’s completion.
Meanwhile, Lim said the group’s vacant possession is projected to increase compared to 2022, going from 2,957 units to 7,209 units.
On labour shortage, he said the new government is currently hard at work to resolve the issue.
