Scien­tex buys 26.4ha in Rawang for RM85.4m

New Straits Times - - Business -

KUALA LUMPUR: Global pack­ag­ing man­u­fac­turer and lead­ing prop­erty de­vel­oper Scien­tex Bhd marked its en­try into the Klang Val­ley prop­erty mar­ket with the ac­qui­si­tion of a 26.4ha free­hold site in Rawang for RM85.4 mil­lion.

Scien­tex, through its whol­ly­owned Scien­tex Park (M) Sdn Bhd, en­tered into a sale and pur­chase agree­ment with Medius De­vel­op­ments Sdn Bhd to buy the land.

“Scien­tex has cre­ated a strong rep­u­ta­tion as a lead­ing de­vel­oper of af­ford­able homes in southern Malaysia since 1995, hav­ing de­liv­ered more than 14,000 homes to date.

“Our ven­ture into the Klang Val­ley prop­erty mar­ket rep­re­sents a new chap­ter in our cor­po­rate his­tory, and grants us an op­por­tu­nity to bring our high­ly­ef­fi­cient prop­erty de­vel­op­ment model here,” said man­ag­ing di­rec­tor Lim Peng Jin in a state­ment yes­ter­day.

“We are con­fi­dent of repli­cat­ing our suc­cesses in de­liv­er­ing af­ford­ably-priced yet high qual­ity homes, es­pe­cially in a re­gion where home own­er­ship is in­creas­ingly a chal­lenge due to high price points,” he added.

The com­pany plans to launch a mixed de­vel­op­ment project on the land.

The land is sit­u­ated near the Rawang town cen­tre with ma­tured res­i­den­tial neigh­bour­hood and ameni­ties such as Rawang AEON Shop­ping Mall, KPJ Rawang Spe­cial­ist Hos­pi­tal, Ang­gun City Com­mer­cial Hub and a pro­posed in­ter­na­tional school.

Scien­tex’s total land­bank would in­crease to 1,092.6ha fol­low­ing the re­cent ac­qui­si­tion. This would keep the com­pany busy for the next 10 to 15 years. Syahira Az­izi

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