Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
Two of Southeast Asia’s leading property developers, UEM Sunrise and GuocoLand, have recently announced the signing of a historic MOU between private companies in Malaysia and Singapore. The signing, which took place on Feb 27, marked the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between the two countries.
The MOU will see the two companies collaborating to develop UEM Sunrise’s freehold landbank in Iskandar Puteri, Johor. This partnership aims to accelerate growth within the JS-SEZ and enhance the attractiveness of Iskandar Puteri for investment.
Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, is an important hub for various industries including manufacturing, business services, education, health and tourism. With its proximity to Singapore, Senai Airport and the Port of Tanjung Pelepas, the area has great potential for long-term economic growth.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, the partnership aims to not only support development, but also create a thriving economic hub that can drive sustainable growth, create jobs, and strengthen the JS-SEZ ecosystem.
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. Together, the two companies will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to attract investment.
Datuk Hisham Hamdan, chairman of UEM Sunrise, believes 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.
GuocoLand CEO Cheng Hsing Yao also adds that the collaboration will enable the two companies to shape Iskandar Puteri and the wider JS-SEZ through innovative developments. He believes that GuocoLand’s experience in real estate development and asset management, as well as its understanding of the needs of companies from Singapore, Malaysia, and China, will be an asset in this collaboration.
UEM Sunrise has already played a significant role in Iskandar Puteri’s development, with existing projects such as the Aspira series residential townships and Senadi Hill. The group has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
CapitaLand Development (CLD) has introduced Lynden Woods One North, a cutting-edge residential development that is poised to transform urban living in Singapore. Located at 71 Science Park Drive in the prestigious Singapore Science Park 1, this project redefines the idea of city living by seamlessly merging residential spaces with a thriving hub of research and innovation. Lynden Woods One North, which can be found at www.lynden-wood.com.sg, sets a new benchmark with its innovative live-work-play concept, catering to the needs of contemporary professionals and families prioritizing convenience, sustainability, and connectivity.
The growth in Iskandar Puteri is expected to be further boosted by incentives and support schemes introduced by the governments of Malaysia and Singapore, including special tax rates, stamp duty exemptions, and capital allowances. This partnership between UEM Sunrise and GuocoLand is expected to drive long-term economic growth in the area and position Iskandar Puteri as a robust business and investment hub.