The first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies in Malaysia and Singapore has been signed by Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand, according to a recent release on Feb 27.
The MOU will see the two groups collaborating to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, in order to accelerate growth within the JS-SEZ. The signing ceremony took place at the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision for Iskandar Puteri.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is known for its expertise in various sectors including manufacturing, business services, education, health, and tourism. If you are looking to invest in overseas properties, there are various projects available for sale around the world.
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The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to activate the potential of Iskandar Puteri and enhance its attractiveness for investors. The focus will be on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.
According to the CFO of UEM Sunrise, 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 development sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub.
In a speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, says, “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.”
Cheng Hsing Yao, CEO of GuocoLand, adds, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.” He further explains that the Singapore-listed property group will bring its experience in real estate development and asset management, as well as its understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.
UEM Sunrise has previously played a significant role in the urban development of Iskandar Puteri. Some of the existing developments under the group include residential townships such as the Aspira series and Senadi Hill. The group has also developed commercial and retail hubs, including an upcoming 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 Malaysian and Singaporean governments to increase investments in the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.