Minor International lauds creation of the Johor-Singapore Special Economic Zone

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International hospitality and real estate firm Minor International welcomed the creation of the Johor-Singapore Special Economic Zone (JS-SEZ).

The hospitality firm also lauded related tax incentives to boost investment and economic activity on Malaysia’s Desaru Coast, where Minor manages a luxury residential development, Anantara Desaru Coast Residences.

As the zone’s flagship area, the Desaru Coast will focus on several sectors, including education, food security, health, and tourism.

With its strategic location and a range of world-class amenities, the residences are poised to benefit from the increased economic activity and investment that the JS-SEZ is expected to attract.

A rafter of new incentives

The new incentives, which came into effect on 1st January, include a five percent tax rate for 15 years for companies investing in high-value activities within the JS-SEZ, while eligible knowledge workers will also benefit from a 15 percent income tax rate for ten years.

The JS-SEZ’s focus on high-value industries such as artificial intelligence, quantum computing, medical devices and aerospace manufacturing is also expected to create a highly skilled workforce and drive demand for premium residential properties.

The zone is expected to create 20,000 skilled jobs in the first five years, and the government seeks to facilitate the expansion of 50 projects within the same timeframe.

This surge in economic activity within the JS-SEZ is anticipated to positively impact to real estate investment in Desaru Coast through increased demand for housing, improved infrastructure, and tourism growth, potentially leading to capital appreciation for property owners.

Boosting appeal for potential buyers

Minor International’s chief operating officer Micah Tamthai opines that the new tax incentives will make Anantara Desaru Coast Residences an even more attractive investment proposition for buyers .

Tamthai said: “We anticipate an increased demand for Anantara Desaru Coast Residences from discerning buyers in the market for an investment property or a family home. Minor is confident that the new tax incentives will be a major catalyst for economic growth in the region.”

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