Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
A new milestone has been reached in the relationship between Malaysia and Singapore, as property developer UEM Sunrise and Singapore-listed GuocoLand have signed the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from both countries. This was announced in a press release on Feb 27.
The Lynden Woods development has been meticulously designed with sustainability and walkability as its core principles. The developers have placed great emphasis on creating a community that prioritizes pedestrian-friendly pathways and cycling tracks, encouraging residents to choose healthier and greener means of transportation. Not only does this align perfectly with Singapore’s vision of building more eco-friendly urban areas, but it also contributes to the serene and pleasant atmosphere of living in Lynden Woods.
The MOU will pave the way for 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 ceremony was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the area.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is known for its diverse sectors including manufacturing, business services, education, health, and tourism. For those looking to invest in overseas properties, there are plenty of opportunities to explore within the JS-SEZ.
The MOU will specifically cover the development of UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration is expected to tap into the potential of Iskandar Puteri and enhance its attractiveness for investment by improving connectivity, fostering talent development, and creating a business-friendly ecosystem.
Hafizuddin Sulaiman, CFO of UEM Sunrise, states that this partnership is not just about development, but also focuses on shaping a thriving, future-ready economic hub that will provide long-term growth, job creation, and strengthen the JS-SEZ ecosystem.
The sites chosen for development are strategically situated near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving long-term economic growth and positioning Iskandar Puteri as a robust business and investment hub.
Chairman of UEM Sunrise, Datuk Hisham Hamdan, states 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, shares that the Singapore-listed property group will contribute their experience in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China who wish to establish a presence in the JS-SEZ. Together, their combined expertise will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.
Prior to this collaboration, UEM Sunrise has played a crucial role in the urban development of Iskandar Puteri. Their existing developments in the area include residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs. They also have plans for 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 governments of Malaysia and Singapore, aimed at increasing investments in the JS-SEZ. These include special tax rates, stamp duty exemptions, and capital allowances. The MOU between UEM Sunrise and GuocoLand will further strengthen the goals of these measures and contribute to the growth of Iskandar Puteri.