LBS Bina Group Berhad, a people-centric developer, foresees a successful 2024 with a targeted property sales of RM1.8 billion, following the conclusion of 2023 with RM1.701 billion in sales. The LBS 2024 media briefing unveiled plans for 10 new projects across Klang Valley, Johor, and Pahang, totaling 4,858 units with a GDV of RM2.33 billion. In the Klang Valley, the focus is on launching 2,960 units with a GDV of RM1.14 billion, with a significant portion in Idaman Perdana, LBS Alam Perdana.
Collaborating with MGB Berhad, LBS introduces innovative projects, including the Rumah Idaman MBI (Idaman Cahaya 3) apartment block, double-storey terrace houses at Astella, and the SkyRia serviced-apartment block at D’Island Residence. Pahang welcomes new launches such as the Bayu Hills serviced apartment in Genting Highland and the Rimbawan Acacia Garden bungalow units. The largest mixed development in the region, Centrum Iris at Cameron Highlands, is also in the pipeline.
In addition to this, Johor anticipates launches, such as double-storey semi-detached houses at Imperial Garden and the Pangsapuri Saujana Indah apartment in Taman Molek. Compared to 2023, where LBS launched 4,358 units worth RM1.67 billion, the 2024 plan reflects the company’s continued commitment to growth.
Currently engaged in 19 ongoing projects with a collective GDV of RM5 billion, LBS holds a landbank of approximately 2,767 acres and unbilled sales of around RM1.99 billion, ensuring a robust earnings outlook for the next two to three years. Executive Chairman Tan Sri Ir (Dr) Lim Hock San, at the 2024 Media Briefing, expressed optimism for the year ahead, highlighting LBS’s focus on affordability, connectivity, and community. Despite challenges in 2023, LBS successfully delivered vacant possession for 4,872 units worth RM2.40 billion.
Anticipating a positive property market outlook in 2024, LBS remains committed to its core pillars and environmental, social, and governance (ESG) initiatives, aiming for net carbon zero emissions by 2050. The company plans to reward shareholders in line with its dividend policy of paying out 30% of profit after tax and non-controlling interest.
For more information, please visit: https://lbs.com.my/