CYBERJAYA: LBS Bina Group Bhd has targeted to achieve RM2.0 billion in property sales this year, maintaining its remarkable performance in 2022.
The property developer closed 2022 with a record RM2.0 billion in property sales, surpassing its property sales target of RM1.6 billion by 25 per cent.
In order to achieve this, LBS will be launching 12 new projects this year - which will cover the Klang Valley, Johor, Pahang and Perak, with a total gross development value (GDV) of RM2.09 billion and 4,021 cumulative units.
LBS has 18 ongoing development projects with an estimated GDV of RM5.7 billion.
In addition, the group has unbilled sales of about RM2.46 billion which are expected to provide clear earnings visibility over the next two to three years.
Executive chairman Tan Sri Lim Hock San said surpassing the group's 2022 property sales target by 25 per cent was a remarkable achievement and an indication that its developments were situated in strategic locations at an affordable price range which matched the needs of the public.
In addition, Lim said the company aimed to continuously reward shareholders in accordance with the group's dividend policy which was to pay out 30 per cent of the profit after tax and non-controlling interest.
"In addition, we successfully handed over vacant possession of 2,957 units worth RM1.27 billion.
"On reflection, being able to continuously launch our developments throughout 2022 has been no easy feat in light of the challenging economic climate, worsening supply chain and geopolitical uncertainty," he said during LBS' media briefing here today.
Lim said looking ahead to 2023, LBS expected economic and market volatility to remain.
"The common property developer challenges that the nation sets to witness are labour shortage, interest rate hike and increase in raw material cost.
"We have carried out strategic planning and discussions to ensure we navigate 2023 cautiously and on a steady footing as we look to maintain our performance.
"As the People's Developer, there is much to look forward to as we aim to launch properties worth a total of RM2.09 billion in GDV across various states.
"We are committed to ensuring our properties continue to remain attainable to prospective homebuyers," he added.
In Klang Valley, Lim said LBS would focus on the launch of 2,118 units worth a total GDV of RM1.1 billion.
He said Klang Valley had consistently provided LBS with the highest sales contribution throughout the years.
Specifically in KITA @ Cybersouth, LBS' key township development, the group plans to launch, among others, single-storey link houses, double-storey link houses and townhouses within KITA Bestari, amounting to a total of 817 units with a total GDV of RM418 million.
Other notable planned launches include 155 units of Astella double-storey terrace houses at D'Island Residence in Puchong which has a GDV of RM139 million and Block B of LBS' Prestige Residence in Seri Kembangan which will consist of 725 units amounting to a GDV of RM313 million.
As of Dec 31, 2022, LBS' future landbank stood at 1,202.73 hectares, projected to keep the group busy for 10 to 15 years.
