UEM Sunrise and GuocoLand are working together to develop selected land parcels in Iskandar Puteri, Johor, as part of the Johor-Singapore Special Economic Zone (JS-SEZ). This is the first memorandum of understanding (MOU) signed between private companies from Malaysia and Singapore to develop the JS-SEZ. The MOU was announced in a press release on February 27.
The partnership will focus on the development of UEM Sunrise’s freehold landbank in Iskandar Puteri, Johor, to drive growth within the JS-SEZ. The signing of the MOU took place during the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for the area. Iskandar Puteri, which is designated as Flagship Zone B of the JS-SEZ, specializes in a range of industries, including manufacturing, business services, education, healthcare and tourism.
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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 more attractive for investment. It will focus on improving connectivity, nurturing talent, and creating a business-friendly environment to drive sustainable economic growth in Johor.
According to UEM Sunrise CFO Hafizuddin Sulaiman, “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 land parcels are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to drive long-term economic growth and position 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 UEM Sunrise chairman Datuk Hisham Hamdan in a speech.
GuocoLand CEO Cheng Hsing Yao adds, “We 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 continues, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”
UEM Sunrise has already played a crucial role in the development of Iskandar Puteri’s urban landscape. The developer has existing residential townships, such as the Aspira series and Senadi Hill, as well as commercial and retail hubs, including 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 attract investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.