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Thursday, December 22, 2011

LBS upbeat on RM800m sales target

LBS Bina Group Bhd (LBS) is confident of achieving RM800 million sales target despite a challenging year ahead.

Managing director Datuk Lim Hock San said strong market demand and competition in the property sector will generate higher value for Malaysian homebuyers.

"We feel this is a positive sign as this creates the opportunity for more innovative and creative products for consumers. Homebuyers will be at an advantage as each investment dollar will generate higher value for them," he said.

Landed property for both affordable homes and high-end homes are expected to be the highlights of 2012 with the rising scarcity of land in urban areas.

Property prices are expected to continue climbing albeit at a lower rate compared with this year.

LBS has a land bank of some 931.5ha worth an estimated gross development value (GDV) of RM9.1 billion.

Lim said the group will launch 13 new projects comprising 2,085 units with a GDV of RM1.5 billion together with some 19 ongoing projects with a GDV of RM562 million.

This includes D'Island Residence, Bandar Saujana Putra, Taman Golden Hills in Cameron Highlands and Bandar Putera Indah in Batu Pahat, Johor.

While focusing on the high-end market, Lim said LBS will continue to offer quality homes in the medium-cost range.

With the implementation of My First Home Scheme and other government initiatives, LBS anticipates this market to contribute 20 per cent to total revenue.

"With our recent rebranding and progressive changes, we will continue to learn and improve throughout the year. Part of that process includes recrui-ting more talented employees to take our growth to the next level," he said.

By Business Times

BLand Q2 net profit higher

KUALA LUMPUR: Berjaya Land Bhd’s net profit rose to RM55.85 million in the second quarter ended October 31 this year from RM43.69 million a year ago.

Group revenue, however, eased to RM988.9 million from RM1.02 billion previously.

The slightly lower revenue was mainly due to the lower property sales registered by its property development business, BLand said in a statement yesterday.

By Business Times