Scientex Aims to Deliver 50,000 Affordable Homes in Malaysia by 2028

Scientex Bhd aims to provide 50,000 affordable homes in Malaysia by 2028, expanding to Thailand and Indonesia. The company's commitment to quality, accessible housing aligns with state governments' agendas, addressing a critical regional need.

author-image
Salman Khan
Updated On
New Update
Scientex Aims to Deliver 50,000 Affordable Homes in Malaysia by 2028

Scientex Aims to Deliver 50,000 Affordable Homes in Malaysia by 2028

Scientex Bhd, a leading property developer in Malaysia, has set a challenging goal of providing 50,000 affordable quality housing units across the country by 2028.

The company has already made substantial progress towards this target, having delivered 35,062 affordable homes to date, with approximately 70% of these units sold below the price point of RM300,000.

Scientex's commitment to affordable housing extends beyond Malaysia's borders, as the company has recently expanded its operations to Thailand and Indonesia through joint venture projects. This strategic move aims to address the growing demand for affordable housing in these neighboring countries while utilizing Scientex's expertise in delivering quality homes at accessible prices.

In Penang, Scientex's Sungai Dua project stands out as the company's second mixed development venture in the state. The project encompasses a total of 5,760 property units, including two-storey terraced houses, shop offices, and various community facilities designed to cultivate a vibrant and inclusive living environment. By offering a diverse range of affordable housing options, Scientex aims to cater to the needs of different segments of the population.

Why this matters: Scientex's challenging goal of delivering 50,000 affordable homes by 2028 addresses a critical housing need in Malaysia and the region. By expanding its operations to Thailand and Indonesia, the company is taking steps to make quality housing more accessible to a wider population, contributing to improved living standards and social stability.

The Penang state government has recognized Scientex's efforts and is actively collaborating with the company to identify additional land for the development of affordable homes. This partnership aligns with Scientex's commitment to providing accessible housing solutions and supports the state's agenda of ensuring adequate housing for its residents.

As Scientex continues to make strides in its affordable housing initiatives, the company remains dedicated to its mission of delivering quality homes that improve the lives of communities across Malaysia and beyond. With a strong track record and ambitious plans for the future, Scientex is poised to play a significant role in addressing the pressing need for affordable housing in the region.

Key Takeaways

  • Scientex aims to build 50,000 affordable homes in Malaysia by 2028, having delivered 35,062 so far.
  • In the meantime, Scientex will expand to Thailand and Indonesia to address the growing demand for affordable housing in the region.
  • Scientex's Sungai Dua project in Penang offers 5,760 affordable housing units, including terraced houses and shops.
  • Penang government collaborates with Scientex to identify more land for affordable housing development.
  • Scientex remains committed to delivering quality, accessible homes to improve living standards across Malaysia and beyond.