Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
UEM Sunrise and GuocoLand, two prominent property developers from Malaysia and Singapore respectively, have recently signed a historic Memorandum of Understanding (MOU) between private companies from both countries. The signing took place on February 27 and marks the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between the two nations.
According to the MOU, the two companies will collaborate to develop select freehold land owned by UEM Sunrise in Iskandar Puteri, Johor. This partnership is set to accelerate growth within the JS-SEZ, and the MOU signing coincided with the grand opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the company’s vision for the area.
Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, is known for its specialization in various sectors such as manufacturing, business services, education, health, and tourism. With the collaboration between UEM Sunrise and GuocoLand, the aim is to further enhance the area’s potential and make it more appealing for investments. The focus will be on improving connectivity, talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.
Hafizuddin Sulaiman, CFO of UEM Sunrise, said that this partnership is not just about development but also about creating a thriving economic hub that will fuel long-term growth, generate employment opportunities, and strengthen the JS-SEZ ecosystem. The selected land plots for development by the two companies are located in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri.
Datuk Hisham Hamdan, chairman of UEM Sunrise, added in his speech that this collaboration is a part of a larger vision to position Johor as a dynamic and forward-thinking economy. The JS-SEZ, along with developments in Iskandar Puteri and strategic partnerships, will pave the way for the state’s economic growth.
Cheng Hsing Yao, CEO of GuocoLand, also expressed his excitement about this partnership and mentioned that their company brings along a wealth of experience in real estate development and asset management. He also added that 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.
UEM Sunrise has been a key player in the urban development of Iskandar Puteri, with existing developments such as residential townships like the Aspira series and Senadi Hill. The company 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 receive a significant boost from incentives and support schemes introduced by the governments of Malaysia and Singapore. These measures, including special tax rates, stamp duty exemptions, and capital allowances, aim to attract more investments for the JS-SEZ. With the expertise of UEM Sunrise and GuocoLand, Iskandar Puteri is poised to become a robust business and investment hub in the region.
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