The recently announced incentives for Forest City’s Special Financial Zone (SFZ) are expected to uplift the real estate sector, particularly in the Iskandar Malaysia region.

Over the past decades, as Malaysia undergoes a major transformation from an economy largely dependent on agriculture and commodities to a more robust industrial and service-oriented economy, the country’s major cities are also experiencing a rapid proliferation of high-rise developments, with new residential, commercial and mixed-use towers reshaping the urban skyline.

The Malaysian government on Friday announced incentives to jumpstart the Forest City special financial zone that include special corporate income tax rates and 0% tax rate for family offices.

The controversy surrounding the compulsory supply of actual water and electricity upon vacant possession (VP) under the sale and purchase agreement (SPA) that was prescribed under the Housing Development (Control and Licensing) Act 1966 (HDA 1966) has finally been laid to rest following the Federal Court’s decision in the case of Remeggious Krishnan vs SKS Southern Sdn Bhd (formerly known as MB Builders Sdn Bhd) [2023] 3 MLJ 1.  

The government is actively negotiating for an amicable solution over the ‘Duta enclave’ conundrum, the court heard on Thursday.

Noteworthy:

• Freehold
• Built-up size: 2,500 sq ft
• Land size: 2,496 sq ft
• 3 bedrooms, 3 bathrooms
• Unfurnished
• Nearby amenities: Royal Selangor Polo Club, Taman Tasik Ampang Hilir, Royal Selangor Golf Club, LRT Ampang, Pavilion KL, Petronas Twin Towers, Gleneagles Hospital KL, ISKL
• Accessibility: AKLEH, MRR2, MEX, Setiawangsa-Pantai Expressway, SUKE, Jalan Ampang

When: February 2024

Noteworthy:

• Leasehold
• Built-up size: 1,200 sq ft
• 3 bedrooms, 2 bathrooms
• Floor level: Low
• Semi-furnished
• Nearby amenities: TERKL, KLCC Park, Perdana Botanical Gardens, Pavilion KL, Tung Shin Hospital, Raja Chulan monorail station, MRT Bukit Bintang, Dataran Merdeka, Central Market
• Accessibility: Jalan Raja Chulan, Jalan Pudu, Jalan Imbi, Jalan Sultan Ismail, MEX, Sungai Besi Expressway, AKLEH, Jalan Ampang, Jalan Tun Razak

When: July 2024

Ahmad started helming the Alliance Bank group as chairman on Feb 1, 2017. 

It aims to improve the quality of services provided by local councils nationwide, is part of an initiative by the ministry to ensure greater accountability and transparency in local governance.

Forest City’s special financial zone (SFZ) will be launched this Friday (Sept 20), with various incentives and packages to stimulate investment, growth and economic activities in Johor.