OCBC Bank Provides RM351 Million Financing for Major Developments in Johor-Singapore SEZ
In a move that underlines the growing strategic importance of the Johor-Singapore Special Economic Zone (JS-SEZ), OCBC Bank (Malaysia) Bhd has extended RM351 million in financing to See Hong Chen Group and EXSIM, two rising property powerhouses in southern Malaysia.
The financing will support three significant real estate ventures, including a landmark mixed-use development in Johor Bahru with a projected gross development value (GDV) of RM1.8 billion.
💼 Financing Details and Development Scope
According to OCBC’s statement, the financing supports:
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A joint development by EXSIM and See Hong Chen Group on prime freehold land along Jalan Dato Abdullah Tahir, Johor Bahru
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Acquisition of additional land parcels in Bandar Johor Bahru by See Hong Chen Group for future phases of development
These projects fall squarely within the JS-SEZ, a newly established economic corridor designed to facilitate cross-border integration between Malaysia and Singapore — enhancing mobility, logistics, and regional investment appeal.
📍 Location Advantage: Why Jalan Dato Abdullah Tahir Matters
Jalan Dato Abdullah Tahir is a strategic location near the Johor CIQ (Customs, Immigration, and Quarantine Complex), future Rapid Transit System (RTS) stations, and high-traffic commercial hubs.
The area is set to benefit from:
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Proximity to RTS Link connecting Johor Bahru to Singapore’s Woodlands North MRT
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Growing demand for integrated developments amid rising cross-border workforces
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High visibility among foreign investors and regional buyers looking for premium lifestyle assets
With the estimated GDV of RM1.8 billion, the development is expected to include a blend of:
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Serviced residences
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Retail podiums
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Office towers
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Hospitality components
🏗️ OCBC: Banking on Strategic Growth
Jeffrey Teoh, OCBC Bank’s Head of Wholesale Banking, reaffirmed the bank’s strategic push into the JS-SEZ through value-aligned partnerships.
“We are always looking to deliver value that goes beyond traditional lending,” said Teoh.
“Our integrated solutions through OCBC’s One Group — including Great Eastern, Bank of Singapore, and PacLease — allow us to support clients across borders with full-spectrum financing and advisory.”
OCBC’s current presence in eight Johor branches, including Skudai, Kulai, and Taman Molek, enables it to stay close to on-the-ground developments and client needs within the zone.
🏢 Developer Vision: Sustainable Growth with Strategic Impact
See Cherng Jye, Managing Director of See Hong Chen Group, expressed optimism about the project’s long-term benefits:
“These projects are part of our vision to create high-impact real estate assets that align with regional economic aspirations. The JS-SEZ is the perfect catalyst for such growth.”
The group plans to prioritize:
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Transit-oriented developments (TODs)
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Green infrastructure
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Integration with cross-border ecosystems in alignment with SEZ policies
🌏 The Bigger Picture: JS-SEZ and Malaysia’s Real Estate Outlook
The Johor-Singapore SEZ is emerging as a national priority zone, with key goals of:
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Attracting foreign direct investments (FDIs)
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Enhancing supply chain resilience between Singapore and Malaysia
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Positioning Iskandar Malaysia as the next Southeast Asian logistics, business, and tech hub
For real estate developers and financial institutions, the zone offers:
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Strong upside in capital appreciation
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Proven rental demand from professionals and businesses
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A favorable policy environment focused on cross-border collaboration and green infrastructure
🧮 Key Highlights at a Glance
| Item | Details |
|---|---|
| Financing Amount | RM351 million |
| Financed Parties | EXSIM and See Hong Chen Group |
| Project Type | Mixed-use development, land acquisition |
| Primary Location | Jalan Dato Abdullah Tahir & Bandar Johor Bahru |
| Projected GDV | RM1.8 billion |
| Bank Role | OCBC Malaysia (and OCBC One Group as integrated provider) |
| SEZ Advantage | Within Johor-Singapore Special Economic Zone (JS-SEZ) |
| OCBC Branches in Johor | 8 (including Skudai, Taman Molek, Kulai, and Johor Bahru) |
🔮 Looking Ahead
As the JS-SEZ gains further momentum with growing public-private collaboration, OCBC’s RM351 million commitment signals:
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A vote of confidence in Malaysia’s southern growth corridor
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Support for sustainable, transit-oriented urbanization
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An emerging shift in cross-border financing aligned with digital and ESG-led growth
With EXSIM and See Hong Chen Group delivering some of Johor’s most anticipated urban projects, this financing deal is expected to catalyze more investment inflows into the SEZ — and elevate the region’s global standing.
