2022-01-11

LBS Bina is expanding its development projects in the highlands due to increased demand

LBS Bina is expanding its development projects in the highlands due to increased demand



LBS Bina Group Bhd intends to ramp up its developments in Cameron Highlands and Genting Permai in Pahang with a mix of product offerings, according to its executive chairman Tan Sri Lim Hock San.

Cameron Centrum, the new town in Brinchang with the most commercial offerings in Cameron Highlands, is being expanded by the developer.

Brinchang, Cameron Highlands' highest and second-largest township, is a popular tourist destination for domestic and international visitors.

Lim said that the response to previous Cameron Centrum projects with English Tudor-style architecture had been overwhelming.

Cameron Centrum, built on 34.8 hectares (ha) of land, will include seven precincts with residential, retail, commercial, hotel, and tourism components to create a vibrant modern township.

Precinct 1 has 58 commercial units with built-up areas ranging from 2,207 to 9,214 square feet and a gross development value (GDV) of RM183 million.

The units completed last year ranged from RM1.45 million to RM5.55 million.

Precinct 1 is the first parcel of development offering unadulterated commercial space to accelerate the pace of Cameron Highland's economic activities and the thriving highlights of the re-energized Brinchang town, spanning 2.3ha of highland space.

With its intriguing design and excellent functionality, the development attracted tourists, investors, and locals to this unique and modern commercial hub in Brinchang, located at the highest point of Cameron Highlands.

Lim said that LBS intends to establish a four-star 10-story hotel in Cameron Centrum in two years.

"We have a lot going on in Cameron Centrum. We also recently received approval for a 20-story apartment building. We also intend to construct bungalow lots and semi-detached shops, and we have a concept in place," Lim said during a media briefing this week.

LBS first established itself in Cameron Highlands in 1998, with its flagship project, Carnation Park, in Tanah Rata. The project was a huge success, and it has inspired the group to continue contributing to Cameron Highlands' development.

Cameron Centrum is the fifth project in Cameron Highlands by LBS, following the successful developments of Carnation Park, Taman Royal Lily, Cameron Golden Hills, in Tanah Rata, and Brinchang Square in Brinchang. In Genting Permai, the group plans to launch Bayu Hills, a 30-storey serviced apartment project with a GDV of RM492 million next to Midhills.

Lim said that Bayu Hills, set against the lush greenery and misty forests of Genting Highlands, comprises 692 units.

Bayu Hills will be launched within the next few months, he said.

"I think this is a good project. We were supposed to launch it last year, but the timing was not right. We think this will be the future. Developments in the highlands offer a good environment for living, and no one will ever suffer the floods," he said.

This year, Lim is confident LBS can achieve its sales target of RM1.6 billion as more projects are launched.

The group plans to launch 14 new projects in 2022 in the Klang Valley, Johor, Pahang and Perak, totalling 3,733 units with a GDV Of RM1.77 billion.

As of December 31, 2021, its landbank stood at 1,110 hectares. The group has 18 ongoing development projects with an estimated GDV of RM5.3 billion, projected to keep it busy for the next 10 to 15 years.

Separately, LBS will launch four Rumah Selangorku Idaman MBI projects this year, namely Idaman BSP in Bandar Saujana Putra, Idaman Cahaya in Shah Alam, Idaman Sari in Puchong and Idaman Melur in Cybersouth.

LBS has a joint partnership with the Selangor state government on the Rumah Selangorku Idaman MBI, which will deliver 7,210 affordable homes across six locations with a total GDV of RM2.01 billion.

Next year LBS will launch Idaman KITA @ Cybersouth and Idaman Perdana in Bandar Puncak Alam under this scheme.



Source: NST.com.my

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