Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
UEM Sunrise and GuocoLand, both prominent developers in Malaysia and Singapore respectively, have recently joined forces in the first Johor-Singapore Special Economic Zone (JS-SEZ) Memorandum of Understanding (MOU) between private companies from the two nations. This collaboration, announced in a press release on February 27th, will see the two companies work together to develop UEM Sunrise’s select freehold land in Iskandar Puteri, Johor with the aim of driving growth within the JS-SEZ. The MOU signing took place during the opening of UEM Sunrise Gallery Iskandar Puteri, where the company showcased its vision for the area.
Iskandar Puteri is a part of Flagship Zone B within the JS-SEZ, specialising in various sectors including manufacturing, business services, education, health, and tourism. The MOU will cover UEM Sunrise’s specific plots of land in Gerband Nusajaya and Puteri Harbour, two strategic locations within Iskandar Puteri. The collaboration is focused on enhancing the area’s appeal to investors by improving connectivity, nurturing talent, and creating a business-friendly environment, in order to drive long-term economic growth in Johor.
Hafizuddin Sulaiman, CFO of UEM Sunrise, states that “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 selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for businesses to establish a presence in the JS-SEZ and tap into the potential of the region.
UEM Sunrise’s Chairman, Datuk Hisham Hamdan, highlights the importance of the JS-SEZ and partnerships in positioning Johor as a dynamic and forward-thinking economy. He states, “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, emphasises the value that their experience in real estate development and asset management will bring to the collaboration. He also notes their understanding of the needs of companies from Singapore, Malaysia, and China wishing to establish a presence in the JS-SEZ. “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments,” he says.
UEM Sunrise has been a key player in the urban development of Iskandar Puteri, with previous projects including residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs such as an upcoming 380-acre industrial park in Gerband Nusajaya. The growth of Iskandar Puteri is expected to be further driven by incentives and support schemes introduced by the Malaysian and Singaporean governments, including special tax rates, stamp duty exemptions, and capital allowances, all aimed at increasing investments in the JS-SEZ.
