“UEM Sunrise and Singapore-listed GuocoLand have signed an MoU to jointly develop industrial, residential, and wellness properties in Iskandar Puteri, Johor, under the Johor-Singapore Special Economic Zone (JS-SEZ). The partnership also explores a ferry service linking Iskandar Puteri to Singapore.“
Kuala Lumpur, 28th Feb 2025, 10.25am – UEM Sunrise Bhd has signed a memorandum of understanding (MOU) with Singapore-listed GuocoLand Ltd to jointly develop key land parcels in Iskandar Puteri, Johor, marking a significant Malaysia-Singapore collaboration under the Johor-Singapore Special Economic Zone (JS-SEZ).
The MOU, announced on Thursday, covers select plots in Gerbang Nusajaya and Puteri Harbour, paving the way for industrial, residential, and wellness-related developments. The collaboration also includes redevelopment initiatives in Puteri Harbour, UEM Sunrise’s officer in charge and chief financial officer Hafizuddin Sulaiman confirmed at the signing ceremony.
While financial details and estimated gross development values were not disclosed, UEM Sunrise chairman Datuk Hisham Hamdan highlighted that both companies will jointly commission a feasibility study for a ferry service between Iskandar Puteri and Singapore, enhancing cross-border connectivity.
“Today marks a milestone as the first private-sector MOU under the JS-SEZ,” Hisham said, emphasizing the strategic importance of the partnership.
GuocoLand CEO Cheng Hsing Yao noted that the collaboration aligns with the company’s vision to shape Iskandar Puteri’s real estate landscape while catering to businesses from Singapore, Malaysia, and China seeking a presence in the JS-SEZ.
GuocoLand, controlled by Malaysian tycoon Tan Sri Quek Leng Chan, has major developments in Singapore, Malaysia, and China, including landmark projects such as Guoco Tower and Guoco Midtown in Singapore.
As of Thursday’s trading session, UEM Sunrise’s shares edged up 0.55% to 92 sen, valuing the company at RM4.63 billion.
