KUALA LUMPUR (Jan 23): LBS Bina Group Bhd (LBS) will kick-start 2019 with mixed-use projects, comprising affordable houses in Perak, in collaboration with the Perak State Secretary Incorporated (SSI), with a gross development value of RM200 million.

LBS, through its subsidiary company, Bimbingan Simfoni Sdn Bhd, and Perak SSI have signed a Memorandum of Understanding to develop two parcels of land situated in Temoh and Chepor, Perak.

Under the agreement, LBS will develop 20.23 hectares of land located in Temoh, near the Batang Padang district and a 16.59-hectare parcel of land in Chepor, the Hulu Kinta district, for mixed-use developments, comprising cluster terrace homes in the affordable price segment, as well as terraced and semi-detached homes.

The construction works are expected to begin in the fourth quarter of this year and will be completed in the next three to four years.

LBS group managing director Tan Sri Lim Hock San said: “Affordable housing is the key issue for the nation now. The collaboration between LBS and Perak SSI stems from the shared passion to help realise the Government’s commitment in delivering one million affordable homes over the next 10 years."

Perak SSI chief executive officer Azizul Rahman Mohamad said the affordable housing sector has been listed as one of the priority sectors in the Perak government’s plans for this year.

"We are targeting to build 50,000 affordable homes in Perak within the next five years. This partnership with LBS is aligned to the State government’s mission to help more people from the low to middle-income groups to own a home,” he added.