UEM Sunrise and GuocoLand, two leading property developers from Malaysia and Singapore, have recently signed the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU. This marks an important milestone in the economic cooperation between Malaysia and Singapore private companies.
The MOU will see the two groups collaborating to develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, which is part of Flagship Zone B of the JS-SEZ. This area focuses on various sectors such as manufacturing, business services, education, health and tourism.
According to UEM Sunrise CFO Hafizuddin Sulaiman, the partnership is not just about development, but also about creating a thriving economic hub that fuels long-term growth, creates jobs and strengthens the JS-SEZ ecosystem. The aim is to improve connectivity, foster talent development and create a business-friendly environment to attract investments.
The selected plots of land in Gerband Nusajaya and Puteri Harbour will be the focus of this collaboration, as they are strategically located near Singapore, Senai Airport and the Port of Tanjung Pelepas. This will drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, chairman of UEM Sunrise, says that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are part of a larger vision to position Johor as a dynamic and forward-thinking economy.
GuocoLand CEO Cheng Hsing Yao adds that the Singapore-listed property group will bring along its 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. Together, they will shape Iskandar Puteri and the wider JS-SEZ through innovative developments.
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Prior to this collaboration, UEM Sunrise has played a key role in Iskandar Puteri’s urban development, with residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
The growth in Iskandar Puteri will be further fueled by incentives and support schemes introduced by the governments of Malaysia and Singapore. These include special tax rates, stamp duty exemptions and capital allowances, which aim to attract investments for the JS-SEZ. With the support of both governments, the partnership between UEM Sunrise and GuocoLand is set to drive the economic growth of Iskandar Puteri and position it as a thriving business and investment hub.