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Thursday, March 27, 2008

LBS Bina shifts gear

SHAH ALAM: Local developer LBS Bina Group Bhd has slated four projects worth more than RM330 million for launch in the Klang Valley this year.

According to its managing director Datuk Lim Hock San, they will be focusing on building medium and medium-high cost properties.

At its flagship development of Bandar Saujana Putra in Selangor, LBS is expected to launch medium and medium-high end houses with an estimated gross development value (GDV) of more than RM179 million this year. “We are waiting for approval from the relevant authorities on these projects and will make an announcement in the coming months,” said Lim.

Among the projects slated for Bandar Saujana Putra are 78 units of 3- and 5-storey shop offices
with a GDV of RM71.5 million, 67 units of 2-storey linked houses with built-up area of 990 sq ft, and 74 units of 2-storey linked houses with built-up of 1,400 sq ft. The houses have an estimated GDV of RM37.8 million, priced from RM200,000 onwards.

“We will also be launching 15 industrial lots with an average acreage of 1.38 acres,” said Lim, after the company’s EGM recently. The industrial lots are expected to carry a GDV of RM78.7 million.

LBS is also launching 41 units of 2-storey houses, named Min Gardens, with an estimated GDV of RM 11.3 million. Lim said Min Gardens’ properties, each with built-ups of 1,400 sq ft, are expected to be priced from RM260,000 onwards.

The developer is currently offering 48 units of 2-storey terraced houses priced from RM250,000 onwards, with a built-up size of 1,200 sq ft each.

LBS has a 500-acre undeveloped land bank in Bandar Saujana Putra. It has to date, completed and sold 4,000 units of low and medium cost properties in the 820-acre, RM5 billion-township since its launch in 2003. When completed over the next three to four years, Bandar Saujana will have more than 12,000 units of mixed development properties.

In Taman Tasik Puchong also in Selangor, LBS is launching projects with a GDV of RM32.44 million comprising 90 units of 1,200 sq ft 2-storey link houses and 48 units of 1-storey cluster link houses. These units are also expected to be priced from RM200,000 onwards.

And in Taman Perindustrian Tasik Perdana in Selangor, LBS will launch projects worth RM90.4 million comprising 40 units of 1 1/2 –storey factory lots measuring 2,000 sq ft and priced from RM500,000 onwards, and 44 units of 1 1/2 –storey semidee factory units with 7,500 sq ft and priced from RM 1 million onwards. Another 16 industrial lots will also be sold in the vicinity with prices ranging from RM1.3 million onwards.

By early next year, LBS will launch 22 units of semidees in Carnation Park, Cameron Highlands with an estimated GDV of RM12.6 million. The houses will have built-ups of 2,700 to 2,900 sq ft. Prices have yet to be determined.

By theSun (by Tim Leonard)

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