Scientex to acquire 960-acre land in Johor Bahru for affordable housing township

KUALA LUMPUR: Scientex Bhd has proposed to acquire 960 acres of freehold land in Mukim Tebrau, Johor Bahru for RM547.7mil, further expanding its presence in affordable housing townships across the state.

The global packaging manufacturer and leading property developer said its subsidiary Scientex Lestari Sdn Bhd had entered into a sale and purchase agreement (SPA) with the land vendor Pelangi Sdn Bhd, a subsidiary of SP Setia Bhd.