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Malaysia-based UEM Sunrise and Singapore-listed GuocoLand have announced a groundbreaking collaboration under the first-ever Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from both countries. The signing ceremony was held on Feb 27 and marks a significant milestone for the development of the JS-SEZ.
The partnership will see both developers join forces to develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor. The goal is to accelerate growth within the JS-SEZ and enhance the overall appeal of the area. The signing of the MOU was held in conjunction with the launch of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the future of Iskandar Puteri.
As part of the JS-SEZ, Iskandar Puteri specializes in various sectors, including manufacturing, business services, education, health, and tourism. Interested in investing in overseas properties? Take a look at available projects for sale around the world.
The MOU will cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, which are two key master-planned areas within Iskandar Puteri. The collaboration aims to unlock the potential of Iskandar Puteri and make it an attractive investment destination. It will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic growth 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 sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them well-positioned to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub. Speaking at the ceremony, Datuk Hisham Hamdan, Chairman of UEM Sunrise, said, “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all parts of a larger vision to position Johor as a dynamic and forward-thinking economy.”
Cheng Hsing Yao, CEO of GuocoLand, emphasized that 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.”
UEM Sunrise has been a key player in Iskandar Puteri’s urban development, with existing residential townships such as the Aspira series and Senadi Hill under its belt. The company has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
The growth of Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the Malaysian and Singaporean governments, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.