New SFZ incentives to buoy Forest City

UOBKH Research said the incentives will further improve Johor’s property appeal.

PETALING JAYA: Forest City may soon shed its “ghost town” image and enhance its attractiveness compared to Singapore, thanks to the recently announced incentives for the Special Financial Zone (SFZ).

UOB Kay Hian (UOBKH) Research said the incentives, which include a 0% tax rate for family offices with RM30mil in assets under management and a 15% personal income tax rate, will further improve Johor’s property appeal.