Investing in a condo in Singapore offers numerous benefits, with one of the most attractive being the potential for capital appreciation. This is largely due to the country’s advantageous location as a global business hub and its strong economic foundations, which constantly drive demand for real estate. In fact, over the years, property prices in Singapore have consistently risen, particularly for condos in prime locations. Savvy investors who enter the market at the opportune moment and hold onto their properties for an extended period can reap significant capital gains. Therefore, adding a condo to your portfolio in Singapore could be a smart move for long-term financial growth.
Understanding the rules and regulations surrounding property ownership in Singapore is crucial for foreign investors. In general, purchasing condos is less restricted for foreigners compared to landed properties, which have more stringent ownership requirements. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite these extra expenses, the reliable stability and promising growth of the Singapore real estate market remain a magnet for foreign investment. This makes Singapore Projects a highly sought-after option for foreign investors.
Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed a landmark MOU between private companies from Malaysia and Singapore. The MOU, signed on Feb 27, is the first of its kind between the two countries and will see the two groups jointly develop UEM Sunrise’s freehold landbank in Iskandar Puteri, Johor. This partnership is expected to speed up the growth within the Johor-Singapore Special Economic Zone (JS-SEZ).
The MOU signing took place during the opening of the UEM Sunrise Gallery in Iskandar Puteri, which showcases the developer’s vision for the area. Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various sectors including manufacturing, business services, education, health, and tourism. With this collaboration, both companies aim to activate Iskandar Puteri’s potential and make it more attractive for investments.
The MOU covers UEM Sunrise’s plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to ensure sustainable economic benefits for Johor.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this partnership is not just about development but also about shaping a thriving economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem. The chosen sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making this collaboration a key driver of long-term economic growth for the region.
Datuk Hisham Hamdan, chairman of UEM Sunrise, further adds that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy. With its vast experience in real estate development and asset management, as well as understanding the needs of companies from Singapore, Malaysia, and China, GuocoLand is confident that this collaboration will pave the way for innovative developments in Iskandar Puteri and the wider JS-SEZ.
Prior to this partnership, UEM Sunrise has been a key player in the urban development of Iskandar Puteri. The developer has already established residential townships such as the Aspira series and Senadi Hill, and commercial and retail hubs in the area. In the pipeline is a 380-acre industrial park in Gerband Nusajaya.
The growth and success of Iskandar Puteri are expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore to attract more investments for the JS-SEZ. With special tax rates, stamp duty exemptions, and capital allowances, these measures are expected to enhance the attractiveness and competitiveness of the area.