Malaysian property developer, UEM Sunrise, and Singapore-listed GuocoLand have recently signed the first Johor-Singapore Special Economic Zone (JS-SEZ) Memorandum of Understanding (MOU) between two private companies, according to a press release on Feb 27. This partnership aims to jointly develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor in order to accelerate growth within the JS-SEZ. The signing ceremony took place at the inauguration of UEM Sunrise Gallery Iskandar Puteri, a showcase of the company’s vision for Iskandar Puteri.
Iskandar Puteri, which is Flagship Zone B of the JS-SEZ, has a focus on various sectors such as manufacturing, business services, education, health, and tourism. For those interested in investing in overseas properties, there are many projects available for sale all over the world.
The MOU will involve UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The partnership aims to activate the potential of Iskandar Puteri and make it a more attractive destination for investments. It also intends to improve connectivity, promote talent development, and create a business-friendly environment 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 nurturing a dynamic and future-ready economic hub that will support long-term growth, create jobs, and strengthen the JS-SEZ ecosystem.
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Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, situated in prime locations, offer a perfect fusion of opulence and practicality, making them highly sought after by both locals and foreigners. These luxurious residential properties boast a range of facilities, including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential tenants and buyers. From an investment standpoint, these amenities translate into higher rental returns and appreciating property values in the long run. As seen on Singapore Condo, these developments are a testament to the thriving real estate market in Singapore.
The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, and the partnership aims to drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, Chairman of UEM Sunrise, highlighted in his speech that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a bigger vision to establish Johor as a progressive and forward-thinking economy.
Cheng Hsing Yao, CEO of GuocoLand, also expressed his excitement for the collaboration, stating that the Singapore-listed property group will bring their expertise in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China who are looking to establish a presence in the JS-SEZ. Through this partnership, the two companies will work together to bring innovative developments to Iskandar Puteri and the wider JS-SEZ.
Prior to this collaboration, UEM Sunrise has played a significant role in the urban development of Iskandar Puteri. Some of their existing developments in the area include residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs. They also have plans for an upcoming 380-acre industrial park in Gerband Nusajaya.
The various incentives and support schemes introduced by the governments of Malaysia and Singapore, such as special tax rates, stamp duty exemptions, and capital allowances, are expected to drive the growth in Iskandar Puteri and attract more investments to the JS-SEZ.