LBS sets 2027 launch for RM8.3b The Reserva in Kwasa

LBS Bina Group Bhd plans to launch Sherwood Residence, the first phase of The Reserva, its RM8.3 billion freehold housing project in Kwasa Damansara, Selangor, in April or May 2027. Group executive chairman Tan Sri Lim Hock San showed the master plan to the media in Kuala Lumpur on 11 November 2026. Selling prices and the phase's value are still being finalised, he said.

Phase 1: Sherwood Residence

• Homes: 196 strata landed homes: 8 bungalows, 88 semi-detached houses and 100 superlink homes
• Land: 24.94 acres (10.09 ha), about eight homes per acre
• Inside: a private lift and step-free layout in every home, plus an EV charging point, a solar panel point, rainwater harvesting and a tank holding three days of water
• Clubhouse: about 18,000 sq ft, with a hall, gym, games room, lounge and swimming pool

The 24.94 acres is the exact size of Plot R1-4A in LBS's circular to shareholders (H.S.(D) 326465, PT 56864, Mukim Sungai Buloh). For that circular, valuer Nawawi Tie Leung put the plot's development rights at RM141.8 million (RM131 psf). It assumed selling prices of RM800 to RM920 psf for the semi-detached houses, bungalows and townhouses planned there, before a 7% Bumiputera discount.

The whole Reserva

• Land: 11 freehold plots, 192.32 acres in all, around a 49-acre (19.83 ha) forest park
• Homes: about 2,922 in total, a mix of landed homes and low- and mid-rise condominiums
• Value: GDV about RM8.30 billion, gross development cost about RM6.60 billion and gross profit about RM1.70 billion, the circular says
• Time: 13 to 15 years, depending on demand
• Council: Petaling Jaya City Council (MBPJ)
• Access: the DASH highway, Jalan Lapangan Terbang and Jalan Sungai Buloh, with proposed links to Persiaran Damansara Indah and Persiaran Teknologi; the township has two MRT stations on the Putrajaya and Kajang lines

How LBS got the land

LBS is not buying the land. On 30 July 2025 its unit LBS Kwasa Damansara Sdn Bhd signed a development rights agreement with Kwasa Land Sdn Bhd, a wholly owned subsidiary of the Employees Provident Fund (EPF), and five Kwasa Development companies. Kwasa Land stays the registered owner of all 11 plots. LBS shareholders approved the deal on 5 December 2025.

• Price: RM1.216 billion in cash, or RM145.15 psf of land, 2.3% below Nawawi Tie Leung's RM1.244 billion valuation
• Payment: 10 instalments, from RM13.4 million on signing to RM206.5 million on 31 July 2034
• Condition: no building work or sales on a plot until that plot is paid for in full or covered by a bank guarantee
• Land use: the titles are still for agriculture; LBS converts them to residential plot by plot, starting with a first application planned for the first half of 2026
• Bumiputera quota: the valuer used a 50% quota with a 7% discount, from Kwasa Land's tender terms

The land price works out at about 14.7% of the GDV, or about RM43.2 million of GDV per acre (our calculation). The valuer compared it with Sunsuria's April 2025 development rights deal for 9.46 acres in Kwasa Damansara (RM227 psf) and PPB Hartabina's November 2023 purchase of 3.91 acres there (RM212 psf), both for higher-density housing.