image by Scientex via Vulcanpost
Navigating the realm of homeownership has become a formidable challenge for many middle-income Malaysians, particularly in bustling urban hubs like Klang Valley, Penang, and Johor. The dream of owning a spacious double-storey home seems elusive, especially within the sub-RM500,000 range. However, Scientex Berhad, a local player, is on a mission to make this dream a reality for Malaysians.
Originating in 1968 as a plastics manufacturer for industrial and consumer packaging, Scientex transitioned into property development in 1993. The pivotal shift came during the 1997 Asian Financial Crisis when the company responded to the affordability challenge by introducing compact and affordable landed homes.
image via Scientex
Defined as properties priced below RM500,000, Scientex's affordable homes provide freehold double or triple-storey terrace homes with four bedrooms, two bathrooms, and ample parking space for up to two cars. The focus is on simplicity and replicability, allowing for cost efficiency and sustained product quality.
As housing prices soar annually, Scientex adopts a strategic land acquisition approach, focusing on suburban or up-and-coming regions where sizable land can still be sourced at reasonable prices. Its simple yet replicable property offerings reflect the company's commitment to affordability without compromising quality.
To date, Scientex's property division has delivered around 33,000 units of homes priced below RM500,000 nationwide. The goal is ambitious, aiming to complete 50,000 units of affordable homes by 2028.
image via Scientex
With an expanding footprint across Malaysia, from Johor to Kedah, Scientex aligns with the government's National Housing Policy to enhance home ownership accessibility. The company's success in providing affordable housing to middle-to-lower-income families resonates with its sustainability goals.
In tandem, Scientex acknowledges its responsibility as both a producer of plastic packaging and a developer of homes, incorporating sustainability considerations into its processes. This proactive approach ensures the company is well-positioned for the growing global emphasis on environmental, social, and governance (ESG) practices.
As Scientex continues its transformative journey from plastics to property, its commitment to making double-storey landed homes accessible to Malaysians remains at the forefront of its mission.