A joint venture between Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand has made headlines with the signing of the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from the two countries. In a statement released on Feb 27, the two companies announced their plans to jointly develop UEM Sunrise’s freehold landbank in Iskandar Puteri, Johor, with the aim of stimulating growth within the JS-SEZ. This important milestone was marked with the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for the area.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is a thriving hub that specializes in various sectors such as manufacturing, business services, education, health, and tourism. If you’re looking to invest in overseas properties, there are plenty of projects available for sale all over the world. The partnership between UEM Sunrise and GuocoLand is expected to cover selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. This collaboration aims to unlock the full potential of Iskandar Puteri and make it an even more attractive investment destination. It will focus on improving connectivity, nurturing talent, and creating a business-friendly environment, which will ultimately result in sustainable economic benefits for Johor.
Hafizuddin Sulaiman, CFO of UEM Sunrise, says, “This partnership is not just about development, but also about creating a thriving and future-ready economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem.” The selected sites are strategically located 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.
During his speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, emphasized that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to establish Johor as a dynamic and forward-thinking economy. Meanwhile, Cheng Hsing Yao, CEO of GuocoLand, mentioned that the Singapore-listed property group brings to the table their expertise in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China looking 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 adds.
UEM Sunrise has been a key player in the urban development of Iskandar Puteri, with existing projects including 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, which aim to attract more investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.