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Thursday, April 30, 2009

LBS to launch 1,420 medium-cost terrace houses

KUALA LANGAT: LBS Bina Group Bhd aims to launch 1,420 medium-cost terrace houses with a total gross development value (GDV) of RM218mil in the Klang Valley by year’s end, said managing director Datuk Lim Hock San.

From left: LBS Bina Group executive director Alan Chia Lok Yuen, Datuk Lim Hock San and staff members at the launch of Iris Garden in Bandar Saujana Putra Wednesday.

The developer also has projects lined up in Ipoh, Cameron Highlands and Batu Pahat, Johor.

LBS will be launching 1,000 units in Bandar Saujana Putra and 420 units in Taman Tasik Puchong in the next few months, according to Lim.

“We want to build affordable homes priced below RM200,000 for the middle-income group,” he told reporters here after the launch of Iris Garden in Bandar Saujana Putra yesterday.

Lim said the group had sold about 85% of the 220 single-storey houses under the Iris Garden series since their soft launch in February.

LBS is confident of selling by next month all the units which have gross built-up areas of 968 sq ft and priced from RM149,900.

“We will then launch our Ruby Garden project that consists of 200 terrace houses with GDV of RM30mil located in the same area. We also hope to launch phase two of Iris Garden this year,” Lim said.

To date, 4,800 property units worth RM499mil have been completed and delivered to buyers in Bandar Saujana Putra.

It also plans to launch 588 single-storey semi-detached houses priced below RM200,000 in Batu Pahat, Johor with a GDV of RM90mil.

A further 680 apartments and 300 townhouses in Taman Golden Hill in Cameron Highlands, with a combined GDV of RM140mil, will be launched by the year-end.

“There is still demand for property amid the current difficult times and we believe that this is a good time for buyers to buy as mortgage interest rates are very low,” Lim said.

On why the company had been very quiet in recent years, he said: “We have been quiet for the past two years but we hope to have a higher profile again this year. With the right products and business directions, I believe this year would definitely be better for us.”

LBS currently has a total landbank of 2,500 acres in the Klang Valley, Pahang, Ipoh, Batu Pahat and Zhuhai in China.

By The Star

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