Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies in Malaysia and Singapore. This historic move, announced on February 27, aims to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor to accelerate growth within the JS-SEZ.
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The MOU signing was held during the opening of UEM Sunrise Gallery Iskandar Puteri, which is a showcase of the group’s vision for Iskandar Puteri. This area, which forms Flagship Zone B of the JS-SEZ, is known for its expertise in various sectors such as manufacturing, business services, education, health and tourism.
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The MOU is expected to 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. Key focus areas include improving connectivity, fostering talent development, and creating a business-friendly ecosystem, which will drive sustainable economic benefits in Johor.
“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,” says Hafizuddin Sulaiman, Chief Financial Officer of UEM Sunrise. The strategic location of the sites, which are in close proximity to Singapore, Senai Airport and the Port of Tanjung Pelepas, makes this partnership even more promising.
Datuk Hisham Hamdan, Chairman of UEM Sunrise, believes 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 adds: “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. Existing developments under the group include residential townships such as the Aspira series and Senadi Hill. It has also developed commercial and retail hubs, including an upcoming 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 increase investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions and capital allowances. With this strategic collaboration, UEM Sunrise and GuocoLand are set to contribute to the economic growth of Iskandar Puteri and position it as a robust business and investment hub.