Kuala Lumpur, 4 January 2019 – Leading township developer, LBS Bina Group Berhad (LBS), maintains an upward growth trend in 2018 with sales increased to over RM1.5 billion from RM 1.4 billion in 2017. This marks the fourth consecutive year of improved results with a strong 25% compounded annual growth rate (CAGR) from 2014 to 2018.
Speaking at its 2019 Outlook Briefing, Group Managing Director, Tan Sri Lim Hock San, said, “LBS has once again achieved positive growth despite a challenging market environment. Achieving improved results over four consecutive years validates the strategy we have adopted. We have a good track record in providing strong product offerings which meet the needs of home buyers, at the right time, and more importantly, at the right price range.”
In 2018, its sales were mainly derived from new project launches in LBS Alam Perdana in Puncak Alam, Residensi Bintang Bukit Jalil, Zenopy Residences in Seri Kembangan and Kita @ Cybersouth in Dengkil. Additionally, ongoing developments in township projects including Bandar Saujana Putra, D’ Island Residence in Puchong, Bandar Putera Indah in Batu Pahat and Cameron Golden Hills in Cameron Highlands, also contributed positively to the healthy sales result.
Moving into 2019, despite a subdued property market outlook due to persistently cautious market sentiment and a slower global economic growth, LBS is confident of sustaining its RM 1.5 billion sales target for 2019, driven by the right product offerings and new launches mainly in the Klang Valley. These include the LBS Alam Perdana township and Kita @ Cybersouth township in Dengkil which is expected to contribute significantly to the Group’s earnings in 2019.
“There is still strong underlying demand for quality and affordable units. Our strategy to focus on more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions,” said Tan Sri Lim.
LBS remains optimistic about its growth prospects with total unbilled sales stood at RM 1.745 billion as of 31 December 2018. The Group has lined up new projects with an estimated Gross Development Value (GDV) of RM1.82 billion. The property projects to be unveiled in 2019 include double storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil condominium, double storey terrace houses in Bandar Putera Indah, Batu Pahat as well as more than 1,000 affordable homes in Kita @ Cybersouth.
Win up to RM3,000 CASH just by sharing your thoughts on the Malaysian property market! Take the PropertyGuru Sentiment Survey here.