News about Forest City

The SFO scheme in Forest City is backed by a zero-tax incentive—first announced in September 2024—targeted at attracting ultra-high-net-worth individuals and family investment entities into Malaysia.

Formerly known as Waterfront Capital, CMY Capital is known for co-owning The St Regis Kuala Lumpur with Malaysian Resources Corp Bhd (KL:MRCB).

The tentatively named FCZFZ-BAIAC International ADR Platform is expected to enhance Forest City’s position as a growing hub for international business and investment.

The two family offices mentioned have obtained Securities Commission approval, according to him.

Forest City has been expanding its road transportation network in collaboration with Causeway Link since 2023, enhancing connectivity between Forest City and the Sultan Abu Bakar Customs, Immigration, and Quarantine Complex (KSAB) at the Second Link.

Forest City isn’t the only area that is attracting investments.

“The family office sector is projected to grow by 75% globally by 2030.

With the introduction of the single family office scheme, coordinated by the Securities Commission Malaysia, Prime Minister Datuk Seri Anwar Ibrahim hopes to attract regional and Malaysian families to manage their family wealth from Malaysia.

SC said that it is currently working with the relevant stakeholders to operationalise the scheme by the first quarter of 2025.

It said these incentives, which aim to establish Forest City as a hub for family offices, are projected to attract local and international investments, fuelling demand for property and creating job opportunities over the long term.