Johor Forest City’s plans for family offices gain pace, with details in early 2025

Forest City was designated a special financial zone in August 2023 to boost foreign investment and economic growth in the area. - Photo: Forest City

KUALA LUMPUR: Forest City’s plans to become a family office hub are gaining pace gradually, with details such as incentives and criteria to be officially announced in the first quarter of 2025, said Malaysia’s Finance Minister II Datuk Seri Amir Hamzah Azizan.

The Forest City special financial zone (SFZ) in Johor will not be competing directly with Singapore. Instead, it aims to attract a different market segment by offering lower threshold requirements for family offices, said Amir Hamzah in an interview with The Straits Times.