Uem Sunrise Guocoland Sign First Js Sez Mou Develop Freehold Landbank Iskandar Puteri Johor
UEM Sunrise and GuocoLand, both leading property developers in Malaysia and Singapore respectively, have recently signed a significant memorandum of understanding. This is the first MOU between private companies from the two nations for the development of the Johor-Singapore Special Economic Zone (JS-SEZ). Under the agreement, both companies will work together to develop selected freehold land in Iskandar Puteri, Johor to boost the growth of the JS-SEZ. The MOU signing took place at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s plans for the area.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, focuses on various industries such as manufacturing, business services, education, health, and tourism. This partnership is expected to cover UEM Sunrise’s selected land plots in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. Their aim is to enhance the potential of Iskandar Puteri and make it more attractive for investments. The focus will be on improving connectivity, developing talent, and creating a business-friendly environment to drive sustainable economic benefits in Johor.
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According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not only about development but also about creating a thriving economic hub that can contribute to long-term growth, job creation, and strengthening the JS-SEZ ecosystem. These sites are strategically located, near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for businesses to invest in.
Datuk Hisham Hamdan, chairman of UEM Sunrise, believes that the development of the JS-SEZ, along with the projects in Iskandar Puteri and strategic partnerships, is part of a larger vision to make Johor a progressive and forward-thinking economy. Cheng Hsing Yao, CEO of GuocoLand, shares similar sentiments. He believes that the partnership will bring together their expertise in real estate development and asset management, along with their understanding of the needs of companies from Singapore, Malaysia, and China. This will enable them to create innovative developments in Iskandar Puteri and the wider JS-SEZ.
UEM Sunrise has played a crucial role in the urban development of Iskandar Puteri. The company has already developed residential townships such as the Aspira series and Senadi Hill. They have also built commercial and retail hubs, with a 380-acre industrial park in Gerband Nusajaya underway. With the support of both the Malaysian and Singaporean governments, who offer incentives and schemes to attract investments in the JS-SEZ, the growth of Iskandar Puteri is expected to accelerate. These measures include special tax rates, exemptions on stamp duty, and capital allowances.