Scientex Bhd is looking to buy 502.59 acres of freehold land in Pulai, Johor Bahru, for RM580.16 million, with the aim to turn it into a mixed-use development and increase its affordable housing landbank.
On 6th October 2026, the business claimed its wholly-owned subsidiary signed a conditional sale and purchase agreement with Pangkal Budiman Sdn Bhd to acquire 14 pieces of freehold land.
The area is next to Scientex’s current developments, which include Taman Pulai Mutiara, Taman Pulai Mutiara 2, Taman Pulai Duta, and Taman Pulai Duta 2.
It is roughly 33 kilometres from Johor Bahru’s city centre and 5.5 kilometres from the Second Link Interchange, with the Tuas Checkpoint another 13 kilometres away.
Scientex stated that the proposed acquisition will be funded with a combination of domestically produced money and bank borrowings.
The company aims to turn the land into a mixed-use development, but it says it is too early to estimate the gross development value, development cost, estimated profit, or project start and completion dates.
Scientex stated that the acquisition would allow the company to expand its landbank while increasing operational efficiencies due to its closeness to existing developments.
The purchase is also in line with the group’s goal of completing 50,000 affordable houses nationwide by 2028.
Scientex stated that demand for reasonably priced landed homes remained strong, particularly among low- and middle-income households.
According to the Property Market Report 2025, residences valued at RM300,000 or less accounted for 52.3% of total residential transactions, with units priced between RM300,001 and RM500,000 accounting for an additional 24.9%.
The acquisition price of RM580.16 million was determined on a willing-buyer, willing-seller basis, taking into account comparable market prices, location, accessibility, land attributes, planning status, zoning, local amenities, and development prospects.
Scientex stated that no independent value was conducted on the land.
Pangkal Budiman, an oil palm plantation and property development company, is a subsidiary of Leong Hup Holdings Sdn Bhd.
