PETALING JAYA: LBS Bina Group Bhd has generated RM766 million sales so far, on track to achieve its target of RM1.5 billion this year.
Its group managing director Tan Sri Lim Hock San (pix) said the sales were contributed mostly from its Cybersouth and Alam Perdana projects.
“With these figures, I’ve confidence that we’ll achieve our sales of RM1.5 billion end of this year,“ he told a press conference after its AGM last Friday.
Its unbilled sales stood at RM1.75 billion, while it has 18 ongoing projects worth RM4 billion. It has 3,705 acres of landbank.
Lim said the next project launch will be in two to three months, which is 1,520 units of affordable apartments in Alam Perdana, Ijok named Melodi Perdana. The project has a gross development value of RM565 million.
He estimated that this project will be easily sold as 322 units had been taken up within two months at its Kita Impian @ Cybersouth with prices starting at about RM338,000 a unit. The property developer also plans to launch its 60 acres industrial park in Telok Gong end of this year. Following heightened focus to develop China’s Greater Bay Area, Lim said it is looking at revising part of its plan for the Zhuhai International Circuit (ZIC) project with its joint venture partner in China.
“We want to make use of the land to get a better proposal,” said Lim without disclosing details.
In February, China released its long-awaited blueprint for the Greater Bay Area, which consists of nine cities in the southern province of Guangdong, including Zhuhai, and the special administrative regions of Hong Kong and Macau.
Lim said the US-China trade war is not expected to impact ZIC as the project is centred on commercial services and tourism, not manufacturing.
