BATU PAHAT: Property developer LBS Bina Group Bhd (LBS) is set to deliver its promise of providing affordable homes this year.
Affirming its commitment to support both the federal and Johor State Government’s appeal for more affordable homes, LBS on Saturday launched Magma Garden in Bandar Putera Indah, Batu Pahat for Malaysian residents in the affordable segment.
The launching ceremony was officiated by Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin.
“Affordability continues to be a main concern among Malaysian homebuyers. However, the rise in the cost of raw materials and land prices pose challenges to developers.
“Nevertheless, LBS strongly believes in realising the dreams of people owning a home. That is why LBS continues to build affordable homes and at the same time to support Johor Government’s effort to build 28,000 units of low-cost and affordable houses in the urban areas within the next five years.” LBS managing director Datuk Lim Hock San, who was at the launch, said in a statement.
He noted that the key selling points of the development take into consideration two main concerns among homebuyers today, affordability and convenience.
The homes which are selling from RM150,000 coupled with its strategic location in Bandar Putera Indah offers excellent value to homebuyers.
Accessibility is another key highlight of Magma Garden which is a 10-minute drive away from Batu Pahat town, a mere 25km from the Yong Peng toll and strategically located next to major towns of Muar and Kluang for increased convenience.
Magma Garden comprises 1,658 single-storey terrace homes priced affordably from RM150,000. The first phase comprising 612 units, which is currently open for registration, have a gross built-up area of 1,022 sq ft; with each unit situated on a 20 ft by 65 ft land area and a net built-up area of 900 sq ft. Magma Garden units offer a three bedroom, two bathroom layout which provides an ideal living space.
The launching of the Magma Garden affordable homes received overwhelming support with about 1,000 guests present during the event.
The registration of eligible affordable home applicants held after the launching was followed by the balloting of home units. A designated area for bankers was also made available to provide applicants with loan application services.
Initially launched in 2002, Bandar Putera Indah is a mixed development comprising residential and commercial properties. LBS plans to develop the remaining 509 acres of land in Bandar Putera Indah into a mixture of commercial and residential developments. Among the amenities proposed for the development include a shopping complex, shop offices and schools to provide education for residents with children. The development also includes a proposed sports and recreational centre providing a common of relaxation for residents. To date, LBS has completed and delivered some residential developments comprising single-storey terrace, semi-detached and double storey homes in Bandar Putera Indah.
To date, LBS has delivered a total of 3,475 affordable homes priced below RM400,000. With a current land bank of 2,115 acres in Malaysia and 509 acres in Batu Pahat, Johor, LBS is expected to launch more affordable homes in the near future.