With rising costs hitting Singaporean companies and residents hard, the development of new residential and corporate space in Iskandar would benefit tiny Singapore. Iskandar, said one consultant, could eventually be for Singapore what New Jersey is to New York’s high-cost Manhattan. The real, long-term outcome of Iskandar could be closer economic relations between Malaysia and Singapore, which split acrimoniously from its neighbour in 1965. Faced with a shortage of land and rising business costs, companies in Singapore may come under pressure to consider relocating some functions, consultants say. SMU Assistant Professor of Law Eugene Tan commented, “Iskandar represents the most concerted effort by both countries to have some sort of loose economic co-operation…”It’s still very early days, but it is a window of opportunity for both.”