UEM Sunrise, GuocoLand sign first JS-SEZ MOU to develop freehold landbank in Iskandar Puteri, Johor
The growth in Iskandar Puteri is anticipated to be driven by rewards and assistance plans offered by the administrations of Malaysia and Singapore, which intend to increase investments for the JS-SEZ. These procedures include special tax prices, stamp duty exemptions and resources allowances.
The partnership aims to activate Iskandar Puteri’s probable and boost its attractiveness for investment. It will emphasize enhancing connection, promoting ability growth and creating a business-friendly ecosystem as drivers for eco friendly economical features in Johor.
The MOU is anticipated to cover UEM Sunrise’s picked plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas inside Iskandar Puteri.
He adds: “Together, our mixed expertise will enable us to form Iskandar Puteri and the broader JS-SEZ with innovative property developments.”
Iskandar Puteri, which develops Flagship Zone B of the JS-SEZ, specialises in several markets, featuring production, business services, education, health and tourism.
Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have signed the initial Johor-Singapore Special Economic Zone (JS-SEZ) MOU between Malaysia and Singapore private companies, according to a Feb 27 launch.
According to GuocoLand Chief Executive Officer Cheng Hsing Yao, the Singapore-listed real estate team “will carry around our experience in property development and asset management, as well as an understanding of the requirements of business from Singapore, Malaysia and China that dream to develop a visibility in the JS-SEZ”.
” The JS-SEZ, developments in Iskandar Puteri, and strategic collaborations are all part of a bigger vision to place Johor as a dynamic and forward-thinking economy,” says Datuk Hisham Hamdan, chairman of UEM Sunrise, in a speech.
The locations rise near Singapore, Senai Airport and the Port of Tanjung Pelepas, and the collaboration means to drive extended economic growth and position Iskandar Puteri as a robust organization and financial investment centre.
The group has even developed commercial and retail hubs, including an approaching 380-acre industrial park in Gerband Nusajaya.
” This collaboration is not only about development, but also about forming a prospering end-to-end, future-ready economic center that fuels long-term development, creates jobs and reinforces the JS-SEZ environment,” claims Hafizuddin Sulaiman, CFO of UEM Sunrise.
Prior to the partnership, UEM Sunrise has played a vital function in Iskandar Puteri’s urban development. Existing developments under the group include property municipalities such as the Aspira series and Senadi Hill.
Under the MOU, the groups will collectively establish UEM Sunrise’s selected property landbank in Iskandar Puteri, Johor, to increase development within the JS-SEZ. The MOU signing was secured in combination with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision of Iskandar Puteri.
