SCIENTEX BUYS AGRI LAND IN MELAKA FOR RM68.2M
Developer buys 84.65ha freehold agricultural land in Durian Tunggal for RM68.2m
GLOBAL packaging manufacturer and property developer Scientex Bhd is expanding its landbank in Melaka, following good response for its existing township.
Scientex will acquire two pieces of freehold agricultural land totalling 84.65ha in Durian Tunggal from Real Golden Development Sdn Bhd for RM68.2 million.
Together with its existing 79.79ha in Scientex Durian Tunggal, the enlarged township would swell to 164.43ha.
Scientex launched 116 units of affordable landed houses in the township under the Rumah Mampu Milik Melaka programme last month.
To date, the company has launched 660 units of affordable landed houses in the township since its maiden launch in the end of last year.
Scientex managing director Lim Peng Jin said it had seen positive uptake for its Durian Tunggal township.
“This highlights the vast underlying demand for affordable landed houses in Melaka,” he said in a statement yesterday.
Lim believes the new land acquisition was timely as it would strongly support its development plans and future launches in the state.
“Additionally, this move brings us a step closer to achieving our aim to build 50,000 quality affordable houses throughout the nation by 2028,” he added.
Upon completion of the acquisition, Scientex’s total landbank across Melaka, Johor, Perak and the Klang Valley will increase from 1,215ha to more than 1,296ha, which can last the company for the next 10 to 15 years of development.
Scientex’s property division has delivered nearly 17,300 affordable houses priced below RM500,000 nationwide, of which about 65 per cent are priced below RM200,000.
The group has since 1995 delivered more than RM3.9 billion worth of properties and has ongoing and future projects of more than RM10 billion in gross development value.