Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed a historic Memorandum of Understanding (MOU) for the first ever Johor-Singapore Special Economic Zone (JS-SEZ) between private companies from both nations. The MOU, announced on February 27, will see the two groups collaborate to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, with the aim of driving growth within the JS-SEZ. The signing took place at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for the region.
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Iskandar Puteri, which is located in Flagship Zone B of the JS-SEZ, is known for its diverse economy, with a focus on sectors like manufacturing, business services, education, health, and tourism. This makes it an attractive destination for investment, especially for those looking to invest in overseas properties.
The MOU covers UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The partnership is expected to activate Iskandar Puteri’s potential and enhance its attractiveness for investment by improving connectivity, fostering talent development, and creating a business-friendly ecosystem.
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 fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.” The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them an ideal location for driving long-term economic growth and transforming Iskandar Puteri into a dynamic business and investment hub.
In his speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, highlighted the partnership as part of a larger vision to position Johor as a dynamic and forward-thinking economy. GuocoLand CEO Cheng Hsing Yao also expressed his enthusiasm for the collaboration, stating that the Singapore-based 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.” Together, their combined expertise will enable them to shape the region through innovative developments.
Prior to this collaboration, UEM Sunrise had already played a key role in the urban development of Iskandar Puteri, with projects such as the Aspira series and Senadi Hill residential townships, 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 being driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, including special tax rates, stamp duty exemptions, and capital allowances, all aimed at attracting investments for the JS-SEZ.