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UEM Sunrise and GuocoLand ink first JS-SEZ MoU between Malaysia and Singapore private companies

ISKANDAR PUTERI, 27 FEBRUARY 2025 – Leading Malaysian property developer UEM Sunrise Berhad (“UEM Sunrise”) and Singapore-based real estate group GuocoLand Limited (“GuocoLand”) signed a Memorandum of Understanding (“MoU”) today to establish a strategic partnership to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor.

The MoU signing, witnessed by Dato’ Onn Hafiz Ghazi, the Chief Minister of Johor, underscores UEM Sunrise’s and GuocoLand’s commitment to forging strategic partnerships to catalyse development in the Johor-Singapore Special Economic Zone (“JS-SEZ”), reinforcing Iskandar Puteri’s position as a key economic hub. Iskandar Puteri is Flagship Zone B of the JS-SEZ, with a focus on manufacturing, business services, digital economy, education, health and tourism.

As part of this collaboration, both developers will together review and activate Iskandar Puteri’s potential and in turn enhance its investment attractiveness. It will focus on improving connectivity, fostering talent development and creating a business-friendly ecosystem, acting as a driving force for sustainable economic benefits in the state of Johor and Malaysia.

The MoU covers UEM Sunrise’s selected plots of land in Gerbang Nusajaya and Puteri Harbour, which are the two key master plans within Iskandar Puteri. With both companies backed by larger conglomerates with expertise beyond real estate development, the partnership will unlock new opportunities and contribute to Johor’s economic aspirations.

Hafizuddin Sulaiman, Officer in Charge and Chief Financial Officer of UEM Sunrise, said “Both UEM Sunrise and GuocoLand bring extensive experience in large-scale integrated developments, making this collaboration a synergy of industry leaders. By leveraging our combined expertise and client networks, we aim to deliver a transformative vision for Iskandar Puteri. 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.”

UEM Sunrise has played a key role in shaping Iskandar Puteri into a comprehensive urban development and inclusive cosmopolitan community, encompassing a diverse range of sectors. Its existing developments include attainable and affordable residential townships such as the Aspira series and Senadi Hill, commercial and retail hubs, and the upcoming 380-acre industrial park in Gerbang Nusajaya. Beyond infrastructure, UEM Sunrise has strengthened its ecosystem with well-being centres like sports, wellness and hospitality facilities, which collectively enhances the vibrancy and sustainability of Iskandar Puteri.

GuocoLand is a leading real estate group that has a strong track record in property development and property investment in Singapore, China and Malaysia. Its end-to-end capabilities span across the real estate value chain, from planning and design, property investment, property development, and property management to asset management. In addition to premium residential properties, GuocoLand has created distinctive and sustainable integrated mixed developments that uplift and transform their local neighbourhoods, including their flagship Guoco Tower and Guoco Midtown in Singapore. GuocoLand is listed on the Mainboard of the Singapore Exchange and is a member of the Hong Leong Group in Malaysia.

Mr Cheng Hsing Yao, Group Chief Executive Officer of GuocoLand (郑馨尧, 集团总裁, 国浩房地产), said “We are excited to partner UEM Sunrise in the development of Iskandar Puteri. UEM Sunrise has strong local expertise in master planning in the location, and they have many well-located sites with strong attributes. GuocoLand will bring along our experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia and China that wish to establish a presence in the JS-SEZ. Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.”

By capitalising on the strengths of both UEM Sunrise and GuocoLand, this collaboration serves to accelerate Iskandar Puteri’s growth. In addition to the existing investment incentives by Malaysian Investment Development Authority (“MIDA”), the growth is further boosted by incentives and support schemes introduced by the governments of Malaysia and Singapore recently to spur investments for the JS-SEZ, including for investors targeting Iskandar Puteri. These measures, such as special tax rates, stamp duty exemptions and capital allowances, further enhance the region’s attractiveness to global investors.

The MoU signing was held in conjunction with the opening of UEM Sunrise Gallery Iskandar Puteri, a space dedicated to showcase UEM Sunrise’s vision of Iskandar Puteri for the future. Complementing this vision is a new master plan for Gerbang Nusajaya, including a forward-thinking industrial park and the development of a new interchange.
Iskandar Puteri is strategically located near Senai Airport and the Port of Tanjung Pelepas, one of Southeast Asia’s busiest ports. Its proximity to Singapore, just 7.5km away from the Tuas checkpoint, further strengthens JS-SEZ as a trade and logistics hub, making it an ideal gateway for regional and international investments.

^{Photo 1 and Photo 2:  Back, left to right: Syahid Mohd Zain, Head, Business Development of UEM Sunrise Berhad; Haji Ahmad Nazir Hj Mohd Nasir, Mayor of Iskandar Puteri City Council; Mohd Masni Wakiman, District Officer, Johor Bahru; Dato’ Hasni Mohammad, Johor Economic Advisor; Dato’ Onn Hafiz Ghazi, Chief Minister of Johor;  Lee Ting Han, Chairman of Investment, Trade & Consumer Affairs Committee of Johor State Government; Datuk Hisham Hamdan, Chairman of UEM Sunrise Berhad;  Ng Kuan Khai Consul-General of the Republic Singapore in Johor Bahru;  Ong Ai Ting, Investment Director of GuocoLand Limited}

^{Front, left to right: Hafizuddin Sulaiman, Officer in Charge and Chief Financial Officer, UEM Sunrise Berhad; Cheng Hsing Yao, Group CEO of GuocoLand Limited}

^{From the left to right: Haji Ahmad Nazir Hj Mohd Nasir, Mayor of Iskandar Puteri City Council;  Mohd Masni bin Wakiman, District Officer, Johor Bahru;  Lee Ting Han, Chairman of Investment, Trade & Consumer Affairs Committee of Johor State Government; Dato’ Ir Hasni Mohammad, Johor Economic Advisor; Dato’ Onn Hafiz bin Ghazi, Chief Minister of Johor; Datuk Hisham Hamdan, Chairman of UEM Sunrise Berhad; Hafizuddin Sulaiman, Officer in Charge and Chief Financial Officer, UEM Sunrise Berhad; Ng Kuan Khai Consul-General of the Republic Singapore in Johor Bahru; Cheng Hsing Yao, Group CEO of GuocoLand Limited}