LBS sees 30% contribution from Cameron project

by **Cals** Wed 16 Apr 2014, 00:31

Business & Markets 2014

Written by Bernama

Tuesday, 15 April 2014 16:01

CAMERON HIGHLANDS (Apr 15): LBS Bina Group Bhd expects its property development project in Cameron Highlands to contribute 30 per cent to total revenue by 2017, up from the current 5 per cent -10 per cent.

The group's current and future development in the Pahang hilltop tourism spot over the next 10 years have a gross development value (GDV) of RM5 billion, said Managing Director Datuk Seri Lim Hock San.

That would amount to 26 per cent of the group's overall GDV.

"We are currently the largest developer in Cameron Highlands and committed to the longer-term development here," Lim said.

The developer, which moved into Cameron Highlands in 1998 and currently has a land bank of 223 acres (89.2 hectares) there, is set to inject leisure and entertainment elements to future developments to spice up the overall appeal.

The upcoming Cameron Centrum will be a project involving six precincts with a GDV of RM2.7 billion.

While details are yet to be finalised, there will be components such as shopping malls with a boulevard, retail outlets, condos, bungalows and landed properties, according to Lim.

He told reporters this here today during the launch of the group's first sales gallery.

Located in Brinchang, the gallery is to cope with its expansion in the hilltop tourist destination.

LBS today also launched its premium Barrington Homes project, which has 50 units of three-storey semi-detached homes, with the selling price starting from RM1.7 million.

For the first three months of 2014, LBS raked in RM50 million revenue from its Cameron Highlands project.

It has targeted RM1 billion in total sales this year, with RM300 million to be generated by the Cameron Highlands development.