Forest City in Johor is emerging as a strategic hub for businesses and investors, supported by great air and sea connectivity, and is focused on creating economic growth and sustainability, according to its Chinese developer Country Garden Group.
Country Garden Malaysia and Singapore chief financial officer Kevin Li said it has the potential to become a key hub, blending financial, residential, and eco-friendly initiatives to play a major role in Asean’s future.
“A cornerstone of Forest City’s development is its ambitious vision for a multipurpose hub, branded as an eco island, safe island, financial island, smart island, and duty-free island.
“And just in 2023, we welcomed more than four million tourists into the city,” he added.
Li highlighted that the Forest City Special Financial Zone, which is part of the broader Johor-Singapore Special Economic Zone, offers a tailored environment for financial services.
“This zone targets financial institutions, family offices and investors, with attractive incentives such as tax exemptions for up to 20 years, and relaxed regulatory frameworks,” he said.
He noted that foreign financial institutions can establish branches in Forest City with fewer licensing restrictions, while businesses and investors benefit from incentives such as corporate tax exemptions, relocation cost deductions, and other advantages, fostering an ideal ecosystem for financial growth.
Malaysia’s emphasis on promoting single-family offices is also a major draw, with streamlined setup processes, minimal staffing requirements, and zero corporate tax for family offices, he said.
“Looking ahead, Forest City plans to expand further with land reclamation projects, and the creation of a one-stop service centre for investors,” he added.
Source: Bernama
