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Thursday, July 30, 2009

LBS banks on new launches

Datuk Lim Hock San in front of a show unit of Topaz II

KUALA LANGAT: LBS Bina Group Bhd is optimistic of achieving its property sales target of RM250mil this year, driven by overwhelming buyer response for its new launches.

Managing director Datuk Lim Hock San said the company’s recent launches such as Iris Garden and Ruby Garden in Bandar Saujana Putra saw the units offered snapped up within two months.

“Topaz II, the latest property offered in Bandar Saujana Putra, was also 20% taken up when we did the soft launch last weekend.

“With current sales at RM135mil, we believe we can achieve our target this year,” he said yesterday at the official launch of 67-unit Topaz II in Bandar Saujana Putra.

Lim said the company would continue to build affordable homes priced from RM150,000 to RM180,000 in Bandar Saujana Putra as it believed there was still strong demand from this market.

“However, demand remains selective, so a development’s strong take-up rate is largely dependent on location, price and quality of the project,” he said.

Topaz II comprises double-storey link-houses priced from RM179,000 to RM244,300.

Lim said LBS would this year launch more properties in Bandar Saujana Putra apart from other new developments in Taman Tasik Puchong, Batu Pahat and Cameron Highlands.

“The new properties we will launch later this year include Topaz II phase two, consisting of 156 double-storey link-houses with a gross development value (GDV) of RM31.3mil, and 218 semi-detached single-storey homes in Batu Pahat priced at RM188,000 with GDV of RM40mil,” he said.

He believed the property market would pick up by year-end, boosted by the stimulus packages and the support from banks that currently offered low interest rates.

LBS is extending its “LBS Hassle-Free Home Ownership Programme” where buyers only need to pay as low as RM1,000 upon signing the sales and purchase agreement. It is also giving free furniture to purchasers of Topaz II.

To date, LBS has completed 4,800 residential and commercial units at Bandar Saujana Putra, located along the Elite Highway, with total GDV of about RM500mil.

By The Star

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