UEM Sunrise, a property developer from Malaysia, and Singapore-listed GuocoLand have recently signed an important agreement – the first between private companies from Malaysia and Singapore – in regards to the Johor-Singapore Special Economic Zone (JS-SEZ). This memorandum of understanding (MOU), which was announced on February 27, will see the two companies working together to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, with the goal of accelerating growth within the JS-SEZ. The signing of the MOU was held during the official opening of UEM Sunrise Gallery Iskandar Puteri, where the company’s vision for Iskandar Puteri was showcased.
Iskandar Puteri, which is known as Flagship Zone B of the JS-SEZ, specializes in various sectors such as manufacturing, business services, education, health, and tourism. For those looking to invest in overseas properties, there are a variety of projects available for sale around the world.
Rewritten:
Location is a critical consideration when investing in real estate, particularly in Singapore. Condos located in central areas or near necessary facilities, such as schools, shopping centers, and public transportation hubs, tend to experience higher appreciation in value. Some prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown an increase in property values. The presence of renowned schools and educational institutions also adds to the desirability of condos in these areas, making them a highly coveted investment for families. Therefore, adding a Condo to your portfolio in these prime locations can potentially lead to significant returns in the future.
This MOU will cover UEM Sunrise’s chosen plots of land in Gerband Nusajaya and Puteri Harbour, two important master-planned areas within Iskandar Puteri. The collaboration aims to unlock the full potential of Iskandar Puteri and make it a more attractive destination for investment. It will focus on enhancing connectivity, developing talent, and creating a business-friendly environment, with the ultimate goal of achieving sustainable economic benefits in Johor.
Hafizuddin Sulaiman, the CFO of UEM Sunrise, explains that this partnership is about more than just development – it is about creating a thriving economic hub that will support long-term growth, job creation, and strengthen 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 driving economic growth and positioning Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, the chairman of UEM Sunrise, also highlighted the bigger picture, stating 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’s CEO, Cheng Hsing Yao, added that their experience in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China, will be beneficial in shaping Iskandar Puteri and the wider JS-SEZ through innovative developments.
Prior to this collaboration, UEM Sunrise has played a key role in the urban development of Iskandar Puteri. They have already developed residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs, including a 380-acre industrial park in Gerband Nusajaya. The growth potential in Iskandar Puteri is also further supported by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract more investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.