Scientex targets 50,000 affordable homes
KUALA LUMPUR: Global packaging manufacturer and leading property developer Scientex Bhd (Scientex) unveiled its target to build and deliver 50,000 affordable homes in Peninsular Malaysia by 2028, double the 17,500 units completed at present.
To date, Scientex has developed affordable homes in four states, namely Johor, Melaka, Selangor and Perak. Reiterating its affordable price tag, 75 per cent of these units were priced below RM300,000 while the remaining units were priced within between RM300,000 to RM500,000.
Scientex has approximately 3,300 acres of landbank across the four states. The further 32,500 homes built in the next ten years would be developed on the same landbank as well as additional lands within Peninsular Malaysia to be acquired in the future.
The group’s managing director, Lim Peng Jin, said in a span of more than 20 years, Scientex has developed a keen prowess in building affordable homes, harnessing our expertise in speed, cost-efficiency and quality.
“These have become the pillars of our track record of delivering homes on time to buyers, sometimes within 15 months from obtaining development approvals,” he said in a statement.
“We ventured beyond building affordable homes in Johor and Melaka to include Selangor and Perak over the past two years. We are confident of replicating our successful business model for the next 32,500 units to be built, and are actively exploring landbank throughout Peninsular Malaysia for this purpose.
With our bold vision to deliver 50,000 affordable homes by the year 2028, Scientex targets to put a roof over more than 300,000 Malaysians, or approximately one per cent of the Malaysian population. In doing so, we are actively supporting in the government’s clarion call to make affordable homeownership a reality for all Malaysians.”
Since commencing property development in 1995, Scientex has delivered more than RM4 billion worth of properties.
In conjunction with Scientex’s 50th anniversary, the Group today launched its coffee table book chronicling the 50-year growth journey to become a RM2.6 billion revenue company.
This remarkable ascension is powered by its twin core businesses of being a global packaging manufacturer and a reputable property developer in Johor, Melaka, Perak and Selangor.
The book also revealed Sci en tex’ s 10-year vision of achieving RM10 billion revenue by 2028.