Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
Malaysian real estate company UEM Sunrise and Singapore’s GuocoLand have signed the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies in both countries, according to a press release on February 27.
Under the MOU, the two groups will work together to develop UEM Sunrise’s freehold land in Iskandar Puteri, Johor, to boost growth in the JS-SEZ. The signing of the MOU took place at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the area.
Iskandar Puteri, a part of the JS-SEZ, is specialized in various sectors such as manufacturing, business services, education, health, and tourism. Those interested in investing in overseas properties can explore projects for sale around the world.
The MOU will cover UEM Sunrise’s plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to unleash the potential of Iskandar Puteri and make it more appealing for investment. The focus will be on improving connectivity, developing talent, and creating a business-friendly environment, all of which will drive sustainable economic growth in Johor.
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Hafizuddin Sulaiman, CFO of UEM Sunrise, says, “This partnership is not just about development, but also about creating a thriving end-to-end, future-ready economic hub that drives long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.”
The 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.
“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,” says Datuk Hisham Hamdan, chairman of UEM Sunrise, in a speech.
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 goes on to say that “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 crucial role in the urban development of Iskandar Puteri. The company has already developed residential townships, including the Aspira series and Senadi Hill, as well as commercial and retail hubs. Additionally, it is working on a 380-acre industrial park in Gerband Nusajaya.
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 attract investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.
