UEM Sunrise, GuocoLand sign first JS-SEZ MOU to develop freehold landbank in Iskandar Puteri, Johor
Prior to the partnership, UEM Sunrise has actually played a crucial role in Iskandar Puteri’s metropolitan advancement. Existing developments under the group include property areas such as the Aspira series and Senadi Hill.
According to GuocoLand Chief Executive Officer Cheng Hsing Yao, the Singapore-listed real estate team “will bring around our experience in property development and asset management, along with an understanding of the requirements of companies from Singapore, Malaysia and China that dream to establish a presence in the JS-SEZ”.
” The JS-SEZ, property developments in Iskandar Puteri, and vital partnerships are all part of a bigger vision to position Johor as a vibrant and forward-thinking economy,” claims Datuk Hisham Hamdan, director of UEM Sunrise, in a keynote.
Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have signed the initial Johor-Singapore Special Economic Zone (JS-SEZ) MOU in between Malaysia and Singapore private companies, according to a Feb 27 launch.
The locations rise near Singapore, Senai Airport and the Port of Tanjung Pelepas, and the collaboration means to drive extended economic progress and position Iskandar Puteri as a robust business and investment hub.
He includes: “Together, our mixed knowledge will enable us to form Iskandar Puteri and the broader JS-SEZ with innovative property developments.”
Iskandar Puteri, which creates Flagship Zone B of the JS-SEZ, specializes in different sectors, including manufacturing, business services, education, health and tourism.
The group has also developed industrial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
The development in Iskandar Puteri is expected to be steered by rewards and service plans offered by the administrations of Malaysia and Singapore, that intend to increase financial investments for the JS-SEZ. These measures consist of special tax rates, stamp duty exceptions and resources allowances.
The MOU is anticipated to cover UEM Sunrise’s picked plots of land in Gerband Nusajaya and Puteri Harbour, two major master-planned locations just within Iskandar Puteri.
” This alliance is not just about development, but also concerning shaping a thriving end-to-end, future-ready economic hub that fuels continued development, creates projects and reinforces the JS-SEZ community,” states Hafizuddin Sulaiman, CFO of UEM Sunrise.
Under the MOU, the groups will jointly establish UEM Sunrise’s picked freehold landbank in Iskandar Puteri, Johor, to increase development within the JS-SEZ. The MOU signing was carried in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision of Iskandar Puteri.
The partnership intends to turn on Iskandar Puteri’s potential and boost its attractiveness for financial investment. It is going to work on boosting connectivity, promoting talent advancement and creating a business-friendly ecosystem as drivers for renewable economic benefits in Johor.
