by AKMAR ANNUAR

ELEVEN companies have already expressed interest in establishing operations within the Forest City Special Financial Zone (SFZ), highlighting its growing appeal as a global investment destination. 

The area’s inclusion in the Johor-Singapore Special Economic Zone (JSSEZ) and its designation as an SFZ by Prime Minister Datuk Seri Anwar Ibrahim in August 2023 have positioned it as a key driver of economic growth. 

Country Garden Pacificview Sdn Bhd deputy president Syarul Izam Sarifudin (picture) noted Forest City’s potential to attract both domestic and international investors.

“We have observed growing interest from investors locally and globally. As the project developer, we are committed to driving the successful implementation of this plan,” he said in a statement, emphasising the SFZ’s appeal due to its strategic location and economic incentives.

Hence, he said, the project has drawn attention not only from private investors but also from international financial institutions. 

A recent visit to the Dubai International Financial Centre (DIFC) by Johor’s Mentri Besar Datuk Onn Hafiz Ghazi further underscored Forest City’s potential to become a significant financial hub.

“This visit to Dubai 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,” Syarul Izam added.

Beyond financial growth, the project is set to provide significant benefits to the local population. 

The tax-free designation and economic initiatives promise to create jobs, attract advanced technology investments and stimulate downstream industries. 

“The benefits extend to local communities through job opportunities and broader economic development,” Syarul Izam said.

To address investor interest, Forest City also hosted a seminar on Saturday focusing on Malaysia’s unique zero-tax single family office policy. 

The event offered insights into government incentives designed to attract high-net-worth individuals and businesses.

Additionally, pre-booking for Cerulean Bay’s small office flexible office (SOFO) commercial spaces was launched on the same day. 

These innovative spaces combine the versatility of offices and storefronts, catering to businesses looking for modern, adaptable setups.

Recognising the importance of accessibility, Forest City is enhancing its transportation infrastructure. 

Following the successful launch of a bus route linking Malaysia and Singapore via the Second Link, new weekend and holiday bus services between Kuala Lumpur and Forest City will be introduced in collaboration with Causeway Link.

Plans to integrate Forest City with Johor Bahru’s public transit system and upgrade cycling paths aim to make the area more convenient for residents and visitors. 

These initiatives align with Forest City’s goal to become a premier destination for work, leisure and investment.

With its strategic location and extensive incentives, Forest City is fast emerging as a model development for the ASEAN region. 

The combined designation as an SFZ, duty-free zone and part of the JSSEZ places it at the forefront of regional economic transformation.

“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,” Syarul Izam said.