Experts believe that the successful collaboration between Malaysia's federal and state governments and Singapore is crucial for Johor Bahru's growth into a major economic hub. The Johor-Singapore Special Economic Zone (JS-SEZ) agreement and the upcoming Rapid Transit System (RTS) Link are cited as key factors driving this economic development.
Johor Bahru 's future as a major economic hub hinges on the successful collaboration between Malaysia's federal and state governments, as well as their partnership with Singapore, according to experts. Allan Sim, executive director of Knight Frank Malaysia, emphasized that the real driver of Johor Bahru 's growth lies in the alignment of policies between the two countries.
\Sim stated that Johor Bahru's success as a prominent city depends on the effective collaboration between the federal and state governments of Malaysia and Singapore, highlighting the benefits this partnership would bring to both nations. He acknowledged that reaching a consensus on the tax regime between the two countries took time, but once a system beneficial to both Malaysia and Singapore is established, Johor Bahru can experience rapid growth compared to other cities. \This collaborative effort is exemplified by the recent signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement, which aims to boost trade and strengthen economic connectivity between the two countries. The agreement includes Johor Bahru City Council as one of six local authorities participating in the initiative. Effective January 1, 2025, the Finance Ministry and the Johor state government have announced an incentive package for the JS-SEZ, offering investors a range of benefits, including a special corporate tax rate, focus on flagship developments, and a special tax rate for knowledge workers. Furthermore, the upcoming Rapid Transit System (RTS) Link connecting Johor and Singapore is expected to significantly enhance accessibility and drive strong housing demand in the area, particularly in projects near the Johor Bahru city center. Sim noted that the high-rise residential sector in Johor Bahru has shown notable improvement, driven by this increased accessibility.
JOHOR BAHRU ECONOMIC DEVELOPMENT SINGAPORE MALAYSIA RTS LINK JS-SEZ PROPERTY MARKET
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