Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
In an exciting development, Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have signed a groundbreaking MOU. This is the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from the two countries. The MOU aims to jointly develop UEM Sunrise’s freehold land in Iskandar Puteri, Johor, to expedite growth within the JS-SEZ. The signing of the MOU took place on Feb 27, at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for Iskandar Puteri.
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As a highly specialized zone, Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, supports diverse industries such as manufacturing, business services, education, health, and tourism. If you’re interested in investing in overseas properties, you can explore the numerous projects available for sale around the world. This MOU specifically covers UEM Sunrise’s plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The goal of this collaboration is to capitalize on Iskandar Puteri’s potential and make it more appealing for investment. It will focus on enhancing connectivity, promoting talent development, and creating a business-friendly environment, all of which will drive sustainable economic growth in Johor.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership isn’t just about development, but also about creating a thriving end-to-end, future-ready economic hub that fosters long-term growth, generates employment opportunities, and strengthens the JS-SEZ ecosystem.” The selected sites are strategically located near Singapore, Senai Airport, and Port of Tanjung Pelepas, and the partnership seeks to boost 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.”
GuocoLand CEO Cheng Hsing Yao added, “We bring with us extensive experience in real estate development and asset management, as well as a deep understanding of the requirements of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.” He further stated, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”
UEM Sunrise has played a significant role in the urban development of Iskandar Puteri. Existing projects under the company’s portfolio include residential townships such as the Aspira series and Senadi Hill. Additionally, the company has also developed commercial and retail hubs, including a 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri will be supported by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.
