LBS ON TRACK TO HIT RM1.8b SALES TARGET
Group confident of repeating last year’s performance, cites buyers’ confidence
LBS Bina Group Bhd is well on its way to achieving its RM1.8 billion sales target after posting sales of RM455 million as of March 21. Group managing director Tan Sri Lim Hock San said yesterday the company was confident of achieving the target this year after seeing almost 100 per cent increase in sales last year.
He attributed the performance to LBS’ marketing and promotions team as well as buyers’ confidence in the company.
Lim said the group had 19 projects worth RM 3.95 billion, with unbilled sales of RM1.42 billion as at January 31.
LBS will launch Phase 2 of Alam Perdana comprising 876 units of landed link and semi-detached houses with a gross development value (GDV) of RM477 million in the third quarter of this year.
For the fourth quarter, it will launch 379 double-storey link houses with a GDV of RM191 million and 698 units of townhouses with a GDV of RM283 in Cybersouth.
On how its “affordable” pricing could be maintained, Lim cited three factors: profit margin, affordability and location.
“First, the company’s profit margin. We, of course, have to make some profit so that we can be answerable to our shareholders.
“Second, we look at the pricing. Doesn’t mean that to get the margin we have to neglect our buyers.
“Third is the location. Different areas have different pricing,” he said at the launch of Zenopy Residences in Seri Kembangan yesterday.
Lim said more than 30 per cent of the units in Zenopy Residences and 88 per cent of the commercial shops had been sold during the soft launch.
LBS expects to sell up to 75 per cent of the serviced apartments by year-end.
“The foundation and podium are not easy to do, but we have reached the seventh floor and we have 25 more levels to go. It will probably take another seven to eight months to finish the structure,” added Lim.
The whole project is expected to be completed by 2021.