Johor Regent Plans Residential Development on Holland Road in Singapore Following Land Swap

The Regent of Johor, Tunku Ismail Sultan Ibrahim, is moving forward with plans to develop approximately 16 hectares of land in Holland Road, Singapore, into low-rise housing, including Good Class Bungalows (GCBs). This follows the completion of a land swap agreement with the Singapore government.

Land Swap Details

In June 2025, the Urban Redevelopment Authority (URA) and the Singapore Land Authority (SLA) announced a land swap deal. Singapore received a 13-hectare plot near the Singapore Botanic Gardens, while Tunku Ismail received an 8.5-hectare piece of state land in exchange . The plots were reportedly of “comparable value.”

Development Plans

Tunku Ismail’s land, originally a 21.1-hectare tract owned by the Johor royal family for generations, was reduced to 16.6 hectares after the swap . The URA is proposing to rezone the land from “open space” and “special use” to residential use. A portion of the site will have a gross plot ratio of 1.4, while the remaining area is intended for GCBs – exclusive bungalows permitted only in designated areas.

Johor Royal Family’s Business Interests

Tunku Ismail holds several business interests beyond the Holland Road development. He serves as chairman and a non-independent non-executive director of Knusford Berhad, a Malaysia-based company involved in building materials, construction, and property development . He similarly has a 30.1% stake in the firm through a private vehicle.

Tunku Ismail is a shareholder in TMC Life Sciences, a Kuala Lumpur-based hospital operator, and owns interests in land reclamation projects in Tanjung Piai and Pengerang in Johor . He recently engaged RSP, a design firm owned by Singaporean billionaire Peter Lim, to develop a waterfront estate in Desaru, Malaysia, as a private residence for the Johor royal family.

More recently, Tunku Ismail’s company, Bullish Aim, introduced RMJDT, a stablecoin pegged to the Malaysian ringgit, operating within a regulatory sandbox .

Royal Family Assets

According to a Bloomberg estimate from early 2024, the Johor royal family, headed by Sultan Ibrahim Iskandar, owns at least US$5.7 billion in assets, with the Singapore estate representing a significant portion . This figure reflects only assets with readily available valuations, and the family’s total holdings are likely much larger.

Sultan Ibrahim Iskandar has previously stated the importance of royalty being involved in legitimate businesses to maintain the institution’s image and provide a livelihood for family members .