UEM Sunrise and GuocoLand have recently made history by signing the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between Malaysian and Singaporean private companies. This collaboration will see the joint development of UEM Sunrise’s freehold land in Iskandar Puteri, Johor, with the aim of accelerating growth within the JS-SEZ. The signing of the MOU took place on Feb 27, coinciding with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for Iskandar Puteri.
Iskandar Puteri, also known as Flagship Zone B of the JS-SEZ, is a bustling hub for various sectors including manufacturing, business services, education, health, and tourism. With this partnership, UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri, will be activated and enhanced, making it an even more attractive destination for investors.
The collaboration between UEM Sunrise and GuocoLand is not just about development, but also about creating a thriving end-to-end economic hub that will promote long-term growth, create jobs, and strengthen the JS-SEZ ecosystem. Hafizuddin Sulaiman, CFO of UEM Sunrise, believes that this partnership will not only drive development, but also shape a future-ready economic hub.
The selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for businesses to flourish. Datuk Hisham Hamdan, chairman of UEM Sunrise, believes that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a bigger vision to position Johor as a dynamic and forward-thinking economy.
Cheng Hsing Yao, CEO of GuocoLand, adds that with their experience in real estate development and asset management, as well as understanding the needs of companies from Singapore, Malaysia, and China, they will be able to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.
UEM Sunrise has been a key player in Iskandar Puteri’s urban development, with existing projects such as residential townships including the Aspira series and Senadi Hill, and commercial and retail hubs such as an upcoming 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri is expected to be further fuelled by incentives and support schemes introduced by the Malaysian and Singaporean governments, including special tax rates, stamp duty exemptions, and capital allowances.
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