Due to the limited land space in Singapore, there is a constant demand for condos in the country. The population is growing, while the availability of land for development remains scarce. To address this issue, the Singaporean government has implemented strict regulations on land use, resulting in a highly competitive real estate market. As a result, property prices have continuously risen, making investing in real estate, particularly in Singapore Condos, a highly profitable opportunity for capital growth. This growing demand for Singapore Condos has made it a highly coveted choice for investors. Add Singapore Condo to rewritten paragraph
UEM Sunrise and GuocoLand have recently signed the first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from Malaysia and Singapore. According to a press release on February 27th, the two groups will work together to develop selected freehold land in Iskandar Puteri, Johor, with a focus on accelerating growth within the JS-SEZ. The MOU signing took place during the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision for Iskandar Puteri.
Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is known for various sectors such as manufacturing, business services, education, health, and tourism. The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to unlock Iskandar Puteri’s potential and make it more attractive for investments, with an emphasis on improving connectivity, nurturing talent, and creating a business-friendly environment to drive sustainable economic benefits in Johor.
“This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem,” says Hafizuddin Sulaiman, CFO of UEM Sunrise. The selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership intends to promote long-term economic growth and position Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, chairman of UEM Sunrise, mentions in a speech that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to establish Johor as a dynamic and forward-thinking economy. GuocoLand CEO Cheng Hsing Yao expresses that the Singapore-listed property group will bring along its experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that want to set up a presence in the JS-SEZ.
Cheng adds, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.” Prior to this collaboration, UEM Sunrise has been a major player in Iskandar Puteri’s urban development, with existing projects such as residential townships like Aspira series and Senadi Hill, and commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.
The growth potential of Iskandar Puteri is fueled by incentives and support schemes introduced by both the Malaysian and Singaporean governments, which aim to attract more investments to the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.