The process of investing in a condominium in Singapore requires careful consideration and obtaining financing is a critical aspect of it. With a variety of mortgage options available, it is imperative to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan an individual can obtain based on their income and current debt obligations. To make informed decisions about financing, it is advisable for investors to seek guidance from financial advisors or mortgage brokers who can provide valuable insights into navigating the TDSR. This step is crucial in avoiding over-leveraging and optimizing the potential of investments in Singapore Projects.
When it comes to investing in Singapore’s real estate market, it’s essential for foreign investors to be aware of the regulations and limitations surrounding property ownership. While there are fewer restrictions for purchasing condos compared to landed properties, foreigners must still adhere to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property acquisition. However, despite this added expense, the steady growth and potential of Singapore’s property market continue to lure foreign investors. Keep an eye out for new condo launches, as they may offer promising investment opportunities.
The Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently announced the signing of the first-ever Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies from the two countries. This collaboration aims to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, in order to accelerate growth within the JS-SEZ.
The MOU signing ceremony took place on February 27, alongside the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for Iskandar Puteri. As part of the JS-SEZ’s Flagship Zone B, Iskandar Puteri specializes in various sectors, including manufacturing, business services, education, health, and tourism.
For those looking to invest in overseas properties, there are various projects available for sale around the world. This 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 activate Iskandar Puteri’s potential and enhance its attractiveness for investment, focusing on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.
According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “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.” The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, and this partnership aims to drive long-term economic growth and position Iskandar Puteri as a robust business and investment hub.
Datuk Hisham Hamdan, chairman of UEM Sunrise, mentioned in his speech 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. The Singapore-listed property group GuocoLand’s CEO Cheng Hsing Yao added, “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 played a vital role in Iskandar Puteri’s urban development, including the development of residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs. The group is also working on an upcoming 380-acre industrial park in Gerband Nusajaya.
The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract investment for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.