PETALING JAYA: Malaysian property developer UEM Sunrise Bhd and Singapore-based real estate group GuocoLand Ltd 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 Johor Menteri Besar Datuk Onn Hafiz Ghazi, underscores UEM Sunrise’s and GuocoLand’s commitment to forge 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 in 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.
UEM Sunrise officer in charge and chief financial officer Hafizuddin Sulaiman said the partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels longterm growth, creates jobs and strengthens the JS-SEZ ecosystem.
GuocoLand Group CEO Cheng Hsing Yao said 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,” he added.
GuocoLand is a 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.
