Forest City redesignation as special financial zone good move

FILE PHOTO: Prospective buyers look at a model of the development at the Country Gardens' Forest City showroom in Johor Bahru, Malaysia February 21, 2017. REUTERS/Edgar Su/File Photo

PETALING JAYA: With the Forest City development in Johor now designated as a special financial zone, it will help to revitalise the township which has received lots of negative publicity over the last few years, says RHB Research.

Towards this end, the research house has maintained its positive view on the Iskandar Malaysia property market in Johor.

“Located right next to the gateway of southern Malaysia, this special financial zone aims to attract corporates experiencing high operating costs in Singapore, and at the same time, residents that are suffering expensive housing and education costs in Singapore.

“While details are still lacking, these incentives should help to encourage more business activities around areas near to the Second Link, going forward,” it said.

Forest City is an integrated residential development and private town located in Iskandar Puteri, Johor.

“We believe industry players will be looking forward to the announcement of a special economic zone, as it should cover specific industrial and new economic sectors such as data centres and renewable energy,” it added.

Moreover, the research house said it is close to the Port of Tanjung Pelepas, while the proposed Kuala Lumpur-Singapore high-speed rail station may also be located at Gerbang Nusajaya once again. This should enable proper planning for future developments, it noted.

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