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Equalbase and Sunway break ground for $2.28 bil free commercial zone in Iskandar, Johor

By Atiqah Mokhtar

/ EdgeProp Singapore |

November 28, 2023 9:44 PM SGT

Equalbase and Sunway break ground on the new 103° sustainable Free Commercial Zone in Johor. (Picture: Equalbase and Sunway)

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Equalbase and Sunway Group have broken ground on an RM8 bil ($2.28 billion) sustainable Free Commercial Zone for the logistics industry in Sunway City Iskandar Puteri, Johor, Malaysia. A groundbreaking ceremony was held for the project, called 103°, on Nov 28.

Spanning 55ha, the development will be built in four phases, with the first phase scheduled for completion by the end of 2025. Situated 5km from the Malaysia-Singapore Second Link, the free commercial zone is expected to cater to a diverse range of industries in the region, including FMCG (Fast Moving Consumer Goods), retail, e-commerce, automotive, pharmaceutical and technology.

“This latest addition to the vibrant ecosystem of our integrated township here [Sunway City Iskandar Puteri] is set to create at least 13,000 job opportunities for the people of Johor and achieve gross development value amounting to more than RM8 billion”, says Sunway Group founder and chairman Jeffrey Cheah.

Read also: Iskandar Waterfront Holdings and MCC Singapore sign deal for $2.6 bil Johor property venture

“Equalbase and Sunway Group share a common vision to build sustainable developments for the betterment of future generations," remarks Nicholas Bischoff, CEO of Equalbase. Headquartered in Singapore, the real estate group specialises in sustainable commercial and industrial logistics facilities.

Bischoff continues: "The project 103° in Sunway City Iskandar Puteri’s Free Commercial Zone signifies shared achievements, meaningful collaboration, and a deepening connection with our customers and partners. We are therefore very privileged to have Sunway, as our joint venture partner for this first-of-its-kind sustainable development."

According to Equalbase and Sunway, 103° will be the first fully carbon-neutral free commercial zone. The integrated warehouses at the development will be equipped with rooftop solar panels to generate sufficient electricity. The development will also seek to obtain green certifications such as Malaysia's Green Building Index Gold rating.

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