Lim (centre) shows a book after media briefing on 2017 Outlook yesterday. Also present are executive directors Datuk Wira Joey Lim Hock Guan (left) and Datuk Cynthia Lim. — Bernama photo
KUALA LUMPUR: LBS Bina Group Bhd is set to launch 13 new projects this year with a cumulative gross development value (GDV) of RM2.35 billion, constituting approximately 5,543 units, nationwide.
Group managing director Tan Sri Lim Hock San said on the back of the new launches, LBS Bina targeted to achieve RM1.5 billion in sales this year versus RM1.2 billion recorded in 2016.
“We are looking at our projects in Ijok (Selangor), Bandar Saujana Putra and also Kulai (Johor) to contributor to our sales target,” he told reporters here yesterday on the outlook for the group in 2017.
He said about 70 per cent or 4,284 new units to be launched, mostly within the Klang Valley this year, would consist of affordable homes priced below RM500,000.
The group was also ready to hand over the keys to the owners of approximately 1,127 house with a total GDV of RM436 million.
For 2016, Lim said 70 per cent, representing 1,366 units of the group’s total sales was contributed by houses priced below RM500,000 while 87 per cent of its developments were completed within the Klang Valley and the remainder in Ipoh, Pahang and Johor.
For the property industry’s outlook, he expected the market to recover by the third or fourth quarter of this year, driving on the possibility of foreign funds inflow, particularly from China.
“Our Prime Minister (Datuk Seri Najib Tun Razak) recently went to China, signing a numbers of agreements with investors there, which may result in more investments coming to Malaysia,” he said.
He said the agreements were expected to bear fruit in the third quarter of this year, which in turn would indirectly boost the property market.
Beside China, he said the weakening of the ringgit versus the US dollar would also attract more foreign buyers to invest in Malaysia’s property industry. — Bernama