Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed the first ever MOU for the Johor-Singapore Special Economic Zone (JS-SEZ). This historic agreement between private companies from Malaysia and Singapore will see the joint development of selected freehold land in Iskandar Puteri, Johor, with the aim of accelerating growth within the JS-SEZ. The MOU signing took place during the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for the area.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors such as manufacturing, business services, education, health, and tourism. The MOU is expected to cover UEM Sunrise’s plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. This collaboration is set to activate Iskandar Puteri’s potential and enhance its attractiveness for investment by focusing on 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 and future-ready economic hub that will bring long-term growth, job creation, and strengthen the JS-SEZ ecosystem. The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it a prime location for long-term economic growth.
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Datuk Hisham Hamdan, Chairman of UEM Sunrise, says that 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. Meanwhile, GuocoLand CEO Cheng Hsing Yao adds that the Singapore-listed property group will bring their experience in real estate development and asset management, as well as an understanding of the needs of companies looking to establish a presence in the JS-SEZ.
Prior to this collaboration, UEM Sunrise has played a critical role in Iskandar Puteri’s urban development. It has already developed residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri is further expected to be driven by incentives and support schemes introduced by the Malaysian and Singaporean governments, such as special tax rates, stamp duty exemptions, and capital allowances.