LBS Bina signs RM125mil loan with MBSB

KUALA LUMPUR: Property developer LBS Bina Group Bhd signed a financing agreement amounting to RM124.6mil with Malaysia Building Society Bhd for its high-end development in Puchong.

The loan will finance the construction of two projects, namely Balvia and Nautilus, under the second phase of LBS' D'Island Residence.

Balvia consists of semi-detached homes priced from RM2.38mil while Nautilus will have three-storey superlink homes priced from RM1.7mil.

For the first phase of the development, LBS managing director Datuk Lim Hock San said that they expect to hand over the fully sold out houses to owners by September.

The 175-acre D'Island Residence development is expected to be completed within the next five to seven years.

Its total gross development value is RM3.6bil, and the township is expected to contribute 30% to 40% of LBS's revenue and earnings over the next few years.

no wonder mbsb chiong, i thought the earning come out. so mbsb, LBS something brewing +1