Forest City draws interest from 11 companies after JSSEZ deal

MALAYSIA: Forest City Special Financial Zone (SFZ) has been drawing interest from local and international investors, with 11 companies already expressing a desire to set up operations within the area, as reported by The Malaysian Reserve.

As part of the nine flagship zones of the Johor-Singapore Special Economic Zone (JS-SEZ) and designated SFZ by Prime Minister Anwar Ibrahim in August 2023, the area has become a key investment destination. The JS-SEZ deal was signed on Jan 6.

Syarul Izam Sarifudin, deputy president of Country Garden Pacificview Sdn Bhd, said they have observed “growing interest from investors locally and globally.”

He added, “As the project developer, we are committed to driving the successful implementation of this plan,” noting the SFZ’s appeal due to its prime location and economic incentives.

According to Mr Syarul Izam, Johor Chief Minister Onn Hafiz Ghazi’s visit to Dubai International Financial Centre (DIFC) was a valuable opportunity to learn from their expertise and explore collaborative opportunities.

“We aim to leverage these insights to position Forest City as a global financial centre,” he added.

The tax-free designation and economic initiatives also aim to bring benefits to the local community, including job creation, advanced technology investments, and growth in local industries.

To attract investors, Forest City hosted a seminar on Malaysia’s zero-tax single-family office policy on Saturday, providing insights on government incentives designed to draw in high-net-worth individuals and businesses.

On the same day, pre-booking for Cerulean Bay’s small office flexible office (SOFO) commercial spaces was also launched to cater to businesses seeking modern, adaptable setups.

Forest City is also working to improve its transport links. Following the launch of a bus route connecting Malaysia and Singapore via the Second Link, new weekend and holiday bus services between Kuala Lumpur and Forest City will be introduced in partnership with Causeway Link.

Plans are also in place to integrate Forest City with Johor Bahru’s public transport system and enhance its cycling paths for residents’ and visitors’ convenience.

Mr Syarul Izam, “In the future, Gelang Patah and its surroundings will offer unmatched opportunities with world-class facilities, connectivity to Singapore and thriving industrial and recreational spaces.” /TISG

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