Minor International Celebrates the Launch of the Johor-Singapore Special Economic Zone
New tax incentives are introduced to enhance investment and economic growth on Malaysia's Desaru Coast.
Minor International Welcomes the Establishment of the Johor-Singapore Special Economic Zone
International hospitality and real estate firm Minor International welcomed the establishment of the Johor-Singapore Special Economic Zone (JS-SEZ). These efforts, coupled with new tax incentives, are expected to amplify investment and economic activities on Malaysia’s Desaru Coast, where Minor oversees a luxurious residential development, the Anantara Desaru Coast Residences.
Strategic Importance of the Zone
The JS-SEZ is designed to be a central hub focusing on sectors such as education, food security, health, and tourism. Its strategic location along with world-class amenities position the residences to benefit from the anticipated surge in economic activity and investment brought about by the JS-SEZ.
New Tax Incentives
Commencing on January 1, the new incentives introduce a five percent tax rate for 15 years for businesses engaging in high-value ventures within the JS-SEZ. Additionally, qualified knowledge workers will enjoy a 15 percent income tax rate for ten years. The JS-SEZ aims to foster sectors like artificial intelligence, quantum computing, medical devices, and aerospace manufacturing while generating approximately 20,000 skilled jobs within the next five years.
Opportunities for Real Estate
The government is targeting 50 projects within this timeframe, which is projected to uplift real estate investments in Desaru Coast, driven by rising housing demand, infrastructure improvements, and tourism expansion. This growth could consequently lead to a capital appreciation for property owners.
Increasing Demand for Residences
Micah Tamthai, the Chief Operating Officer at Minor International, believes these tax incentives will significantly heighten the allure of Anantara Desaru Coast Residences for potential buyers. Tamthai stated:
“We expect an increased demand for Anantara Desaru Coast Residences from discerning buyers looking for investment properties or family homes. Minor is confident that these new tax incentives will act as a key catalyst for economic growth in the region.”
