LBS targets RM1.6 bln sales in 2020
PETALING JAYA: Township developer LBS Bina Group Bhd (LBS) aims to achieve a sales target of RM1.6 billion this year from RM1.63 billion 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 billion 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 here yesterday.
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, it has a total of 18 ongoing projects with a gross development value (GDV) of RM4.5 billion, with a balance available of RM982 million for sale and unbilled sales amounting to RM2.243 billion.
He said the company has done various survey to find out market sentiment and has been working in the past six months on what to offer buyers for 2020.
“Despite the challenging market condition, 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. — Bernama