Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed an MOU for the first Johor-Singapore Special Economic Zone (JS-SEZ) between private companies from both countries. The goal of the partnership is to jointly develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, in order to accelerate growth within the JS-SEZ. The MOU signing took place on February 27 at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the area.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in a variety of sectors including manufacturing, business services, education, health, and tourism. By collaborating, the two companies hope to activate Iskandar Puteri’s potential and make it more attractive for investment. The focus will be on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not just about development, but also about creating a thriving economic hub that will support long-term growth, job creation, and strengthen the JS-SEZ ecosystem. The selected plots of land covered by the MOU are located in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri, and are expected to drive long-term economic growth and make the area a robust business and investment hub.
Chairman of UEM Sunrise, Datuk Hisham Hamdan, believes 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 CEO Cheng Hsing Yao also shares this vision, stating that the Singapore-listed property group will bring its expertise in real estate development and asset management, as well as understanding of the needs of companies from Singapore, Malaysia, and China, to establish a presence in the JS-SEZ. Together, their combined expertise will shape 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 with residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs, and an upcoming 380-acre industrial park in Gerband Nusajaya. The expected growth in Iskandar Puteri will be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, such as special tax rates, stamp duty exemptions, and capital allowances, aimed at attracting investments for the JS-SEZ.