Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently come together to sign the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from the two countries. The signing of this MOU, which was announced on Feb 27, aims to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, with the intention of accelerating growth within the JS-SEZ. This event was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which serves as a showcase for the group’s vision of Iskandar Puteri.
Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, specializes in various sectors, including manufacturing, business services, education, health, and tourism. Looking to invest in overseas properties? Explore projects available for sale around the world Advertisement Advertisement The MOU will cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to activate Iskandar Puteri’s potential and enhance its attractiveness for investment. The focus will be on improving connectivity, fostering talent development, and creating a business-friendly ecosystem as drivers for sustainable economic benefits in Johor.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.” The selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, chairman of UEM Sunrise, said in a speech that “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy.” According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group “will bring along our experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.”
He added, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.” Prior to this collaboration, UEM Sunrise has played a key role in Iskandar Puteri’s urban development. Some of the existing developments under the group include residential townships such as the Aspira series and Senadi Hill. Additionally, the group has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
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The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to increase investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.