UEM Sunrise and Singapore-listed GuocoLand have recently signed a Memorandum of Understanding (MOU) for the development of selected freehold land in Iskandar Puteri, Johor. This marks the first MOU signed between private companies from Malaysia and Singapore within the Johor-Singapore Special Economic Zone (JS-SEZ).
The signing of this MOU was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision for Iskandar Puteri. This area, which is part of Flagship Zone B within the JS-SEZ, specializes in various sectors including manufacturing, business services, education, health, and tourism.
The MOU covers UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. This collaboration aims to accelerate growth and enhance the attractiveness of Iskandar Puteri for investments. It will focus on improving connectivity, talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits 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 will create jobs and fuel long-term growth in Johor.
The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning 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 brings 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 are looking to establish a presence in the JS-SEZ.
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Together, the combined expertise of UEM Sunrise and GuocoLand will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.
UEM Sunrise has played a key role in the urban development of Iskandar Puteri, with existing developments including residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. The group is also developing 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 increase investments in the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.