Scientex Bhd is making another large Johor landbank move, proposing to buy 502.59 acres of freehold land in Pulai, Johor Bahru, for RM580.16 million.
The deal is not a launch yet. It is a land purchase: 14 parcels owned by Pangkal Budiman Sdn Bhd, to be acquired by Scientex Quatari Sdn Bhd and later turned into a mixed-property development. At the announced price, the land works out to about RM1.154 million an acre, or roughly RM26.49 psf before development costs.
That number matters because of where the land sits. The parcels are adjacent to Scientex's existing Pulai developments, including Taman Pulai Mutiara, Taman Pulai Mutiara 2, Taman Pulai Duta and Taman Pulai Duta 2. The company told Bursa, as reported by The Edge Malaysia, that the proximity should give it operational scale when the future project is eventually planned.
The site is about 33km from Johor Bahru city centre and about 5.5km from the Second Link Interchange. For buyers, that puts the story in the same broad Johor corridor where affordable landed supply, cross-border commuting and industrial job growth keep overlapping. For Scientex, it is a continuation of a familiar play: buy big, build repeatable affordable-home townships, and keep the entry price within reach where possible.
The development details are still deliberately thin. Scientex has not fixed the gross development value, development cost, earnings contribution, start date or completion timeline because the project is still at an early stage. The purchase is expected to be funded through internal funds and borrowings, and The Edge Malaysia reported that Scientex had RM357.8 million in cash against RM2.05 billion in total borrowings as at July 31, 2026.
Completion is expected in the second half of 2027, subject to the usual conditions. Until then, this is best read as landbank positioning rather than a sales launch. The buyer-facing news is not which units are for sale, but that one of Malaysia's most active affordable-home developers is preparing another substantial Johor Bahru tract for the next cycle.
Sources: Scientex/Bursa announcements page; The Edge Malaysia; The Star.
