This study aims to develop a type of fine-grained lightweight concrete, also known as lightweight cementitious composite (LCC), containing perlite microsphere (PM) and fibres with enhanced impermeability. The effect of polypropylene (PP), polyvinyl alcohol (PVA), and basalt fibres on the fresh and hardened properties of LCC was investigated. Besides, silane-based water repellent admixture was incorporated to reduce the water absorption and enhance the hydrophobicity of LCC. The dry densities of LCC developed were in the range of 912–985 kg/m3. PP fibres have lesser influence on the strengths of LCC. However, PVA fibres enhanced the strength of LCC by up to 35.2% and 28% in the compressive strength and flexural strength, respectively, while the basalt fibres increased both strengths up to 30.1% and 43.5%, respectively. By considering the overall performance, LCC with 0.5% PVA fibres has achieved a good balance in workability and strength. Additionally, silane-based water repellent admixture had an excellent effect in reducing the water absorption and improving the hydrophobicity of LCC. By incorporating 1% of silane-based water repellent admixture, the LCC with 0.5% PVA fibres obtained water-resistant properties with the softening coefficient of 0.85 and water contact angle of 128.2°. In conclusion, a combination of PVA-LCC with 1% waterproofing admixture showed the best performance in terms of mechanical strength as well as hydrophobic properties and had the potential to be used in the fabrication of concrete façade.