LBS Surpasses 2021 Property Sales Target, Steps Up Property Launches In 2022

·4-min read

LBS Bina Group Berhad (“LBS” or the “Group”) foresees a better year ahead. In 2021, LBS surpassed its RM1.2 billion sales target, ending the year with RM 1.575 billion in property sales.

At the LBS annual media briefing held earlier today, the Group announced its plans to launch 14 new projects in 2022 – which will cover Klang Valley, Johor, Pahang and Perak – amounting to 3,733 units with a Gross Development Value (GDV) of RM1.77 billion.

Overall, for the Klang Valley, which provided the highest sales contribution in 2021, LBS intends to launch 2,604 units with a total GDV of RM1.11 billion.

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Specifically, for the KITA @ Cybersouth township, LBS will launch 2,128 units with RM853 million in GDV. Within KITA @ Cybersouth, LBS aims to develop KITA Sejati serviced apartments, KITA Bestari single and double-storey terrace houses and double-storey townhouse in 2022.

To add on, LBS also plans to launch a new phase of Melodi Perdana serviced apartments at the LBS Alam Perdana township which consists of 321 units and a total GDV of RM120 million, and Astella at D’Island Residence with 155 units and a total GDV of RM132 million.

For other areas, new projects include the Bayu Hills apartment in Genting Highlands (642 units with a total GDV of RM492 million); Taman Kinding Flora single storey cluster link and terrace houses in Chemor, Perak (248 units with a total GDV of RM 64 million) and the Emerald Garden 3 single-storey terrace houses, Royal Garden double-storey Semi-D houses and Laman Bayu 4 double-storey terrace house in Bandar Putera Indah, Johor (239 units with a total GDV of RM108 million).

In comparison, LBS launched a total of 3,344 units in 2021 worth RM1.6 billion. These launches were developments across KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil and Prestige Residence in Seri Kembangan within the Klang Valley.

Other launches include the terrace houses in Bandar Putera Indah township in Batu Pahat and new phases at Taman Kinding Flora, Chemor.

To add on, the Group is in full support of the Selangor Government’s initiatives to develop affordable housing for the general public. This is evidenced by LBS’ joint partnership with the Selangor State Government on the Rumah Selangorku Idaman MBI project to deliver 7,210 affordable homes across 6 locations, consisting of a total GDV of RM2.01 billion.

LBS targets to launch 4 Rumah Selangorku Idaman MBI in 2022, namely Idaman BSP (Bandar Saujana Putra), Idaman Cahaya (Shah Alam), Idaman Sari (Puchong) and Idaman Melur (Cybersouth). Whereas, Idaman KITA (Cybersouth) and Idaman Perdana (Bandar Puncak Alam) scheduled to launch in 2023.

LBS has 18 ongoing development projects with an estimated GDV of RM5.3 billion. As at 31 December 2021, LBS’ future landbank stood at approximately 2,744 acres, projected to keep the Group busy for 10 to 15 years to come.

In addition, the Group has unbilled sales of about RM 2.304 billion, expected to provide clear earnings visibility over the next two to three years. The Group managed to garner strong property sales despite a challenging 2021 with the aid of digital marketing initiatives and the use of its IBS precast system.

LBS highlighted the contributions brought upon by its Virtual Property Page and more digital campaigns such as the Ox-picious 8, Raikan Rezeki Bersama LBS, Vacci-Nation Bonanza and Fabulous 20-21 Lucky Draw.

After the media briefing, LBS Executive Chairman, Tan Sri Lim Hock San said, “LBS recorded a steady performance in 2021 despite a tough year for businesses. Not only did we manage to surpass our 2021 property sales target by 31%, we also successfully handed over vacant possession of 2,570 units worth RM1.3 billion.

“It is indeed worthwhile being able to provide affordable homes to the community and seeing them happy when they received the keys to their new homes.”

Moving forward, LBS embraces the new norm as the company continue to adopt digitalisation in our business, said Lim.

To kickstart the year, LBS has launched the ‘Bring Happiness Home’ campaign, which will reward homebuyers with a total of RM438,888 CNY Angpows and run from 1 January 2022 to 28 February 2022.

Under this campaign, LBS will be offering furnishing packages, low booking fees, loyalty rewards, flexi payment schemes and zero exit fees. In addition, the company will be waiving legal fees and stamp duty on loan agreements for all homebuyers when they purchase from a selection of LBS’ residential properties.

“As the People’s Developer, we remain committed towards supporting the government’s housing initiatives and hope homebuyers will be encouraged to own a home by our efforts.

“Meanwhile, enhancing stakeholder value has been a priority for us and we will continue to maintain our dividend policy to payout at least 30% of the profit after tax. We are confident in our abilities and hope our shareholders will continue to have faith in us,” he said.

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