Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have just inked the very first Memorandum of Understanding (MOU) between private companies from Malaysia and Singapore for the Johor-Singapore Special Economic Zone (JS-SEZ). According to a press release dated Feb 27, the two groups will be teaming up to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, in order to boost growth within the JS-SEZ. The MOU signing took place alongside the grand opening of UEM Sunrise Gallery Iskandar Puteri, showcasing the developer’s vision for the region.
Iskandar Puteri, designated as Flagship Zone B of the JS-SEZ, boasts a diverse range of sectors including manufacturing, business services, education, health and tourism. Those interested in investing in overseas properties will be pleased to know that there are plenty of projects available for sale in this area.
The MOU will cover UEM Sunrise’s chosen plots of land in Gerband Nusajaya and Puteri Harbour, two pivotal master-planned areas within Iskandar Puteri. The collaboration seeks to activate the full potential of Iskandar Puteri and enhance its appeal as a prime investment destination. The focus will be on improving connectivity, nurturing talent development and creating a business-friendly environment, with the ultimate goal of achieving sustainable economic benefits for Johor.
When it comes to investing in real estate, location plays a crucial role, and this is particularly true in Singapore. Condos located in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have a higher chance of appreciating in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples of areas where property values have consistently shown growth. Additionally, the presence of reputable schools and educational institutions in these locations make condos even more desirable for families, making them a wise investment choice. Plus, with Condo being in these sought-after areas, their investment potential is even greater.
Hafizuddin Sulaiman, CFO of UEM Sunrise, emphasizes that this partnership is about more than just development – it is also about creating a thriving, future-ready economic hub that will foster long-term growth, generate employment opportunities and strengthen the JS-SEZ ecosystem.
The chosen sites are strategically located near Singapore, Senai Airport and the Port of Tanjung Pelepas, making it an ideal location for businesses to thrive. 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, stated in a speech that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a grand vision to establish Johor as a dynamic and forward-thinking economy.
According to GuocoLand CEO Cheng Hsing Yao, the Singapore-listed property group brings with them a wealth of experience in real estate development and asset management, as well as a deep understanding of the needs of companies from Singapore, Malaysia, and China seeking to establish a presence in the JS-SEZ. Together, the combined expertise of both companies will shape Iskandar Puteri and the wider JS-SEZ through innovative developments.
Prior to this collaboration, UEM Sunrise has been a key player in the urban development of Iskandar Puteri. The group has already successfully developed residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. They are also currently working on a 380-acre industrial park in Gerband Nusajaya. With these existing developments, UEM Sunrise is in a prime position to drive the growth of Iskandar Puteri.
The growth of Iskandar Puteri is expected to be spurred on by incentives and support schemes introduced by both the Malaysian and Singaporean governments, aiming to attract more investments into the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.