FOREST CITY
INTRODUCTION
Forest City
Forest City is developed by Country Garden Pacificview Sdn Bhd, a joint venture between Country Garden Group and the Malaysian-government-backed Esplanade Danga 88 Sdn Bhd (EDSB).
Compromising four man-made islands spanning 30km2, the newly-built Forest City will be a smart and green futuristic city that combines environment, technology and cutting-edge technology to create an ideal, idyllic and technology-driven living and working space ecosystem. This is a unique opportunity to be part of this dynamism, where industries can benefit from pro-business policies, and government incentives exclusive to Forest City. Many key industries have already committed to setting up their operations here, and this will further spur regional economic growth amid an already-robust backdrop of a consolidating ASEAN community and China’s “Belt and Road” initiative.
Construction Achievements
After several years’ development, the urban development of Forest City has reached a considerable scale. Forest City encompasses a total planned development area of 30 square kilometers, which is about the size of Macau. Now we have planned 13KM2 (including about 3KM2 of reclaimed land on Island 1, 2KM2 of IBS plant, and 8KM2 of golf resort).
Five Island Positioning
Based on the project supporting facilities and future development direction, Forest City is gradually building five strategic positioning: eco island, financial island, duty-free island, smart island, and safe island, leading a healthy and modern urban life experience.
Special Financial Zone
The incentives of Forest City Special Financial Zone for industries mainly focus on two sectors, namely family offices and Fintech related industries. Forest City is the first in Malaysia to provide family offices with a zero tax rate for up to 20 years. The minimum AUM (asset under management) scale starts from only RM30 million. Fintech related companies, such as FinTech, Insurtech, Regulatory Fintech, Islamic Fintech, Foreign payment system operators, Financial Global Business Services, can enjoy 5% tax rate up to 20 years.
Exclusive MM2H Policies
Forest City Special Financial Zone enjoys exclusive MM2H policies. The visa is valid for 10 years, and the minimum eligibility starts from just RM500,000. The fixed deposit requirement is significantly lower — only around RM 150,000 for applicants over 50 years old.
Duty-free Island
Forest City officially is the fifth duty-free island in Malaysia and the first duty-free island in Malaysia that can be directly entered by vehicles. Duty-free goods in the area include alcoholic beverages, chocolate, cosmetics and perfumes, etc. Duties exempted include import duty, excise duty, and sales tax on price and duties.
Malaysia Digital Status Approved
Forest City has been granted Malaysia Digital status. Eligible digital enterprises, including those in industries such as artificial intelligence, big data analytics, IoT, cybersecurity, cloud computing, blockchain, drone technology, creative media technologies, integrated circuit design with embedded software, robotics or automation, advanced network connectivity, and telecommunications technology, can benefit from incentives such as corporate tax exemptions, investment tax allowances, and exemptions from import and sales taxes on multimedia/ICT equipment, among others.
Cutting-Edge Planning & Design
As a group of four man-made islands, Forest CIty is first and foremost, visually distinct from the other developments and townships in Iskandar. It also distinguishes itself in other ways; in building Forest City as independent islands from the ground up, Country Garden Pacificview has the freedom to create an urban landscape and key elements that foster an ideal living environment. These unique features will also enhance the security and privacy of Forest City.
Green
Low-carbon, green city with a sustainable community incorporating a system of energy-efficient buildings that meet green standards.
Smart
A Smart City where cutting-edge technology enhances all facets of urban life, delivering a rewarding lifestyle.
Dynamic
A vibrant city with a high-density community that is synchronized with the world.
Harmonious
A harmonious society embracing the rich heritage created by the diversity of cultures of its residents.
A City With Vertical Greening
Together with renowned urban planning and designing firm Sasaki, Forest City created an idyllic and vibrant city. One of the most distinctive features of Forest City is its vertical greenery, underlined by the concept of a “forest-like environment with buildings’ façade covered by plants”. In sum, Forest City will be an exclusive and green living paradise.
Smart City
Using cutting-edge smart technology, an urban operating system and resource network management will be built to aggregate information from multiple sources, enabling advanced analytics and reporting across city-wide functions. Each entity within the city, from the individual, corporate, building, amenity, product, and even through to service, will have a unique ID. This ID will provide seamless connectivity among all entities via the internet, creating a smart and efficient living and working environment.
The inter-connectivity between enterprise and individual, city, and environment will be manifested throughout the entire city, providing a vibrant atmosphere for individuals, and a high-end cross-boundary communication platform for corporates.
The inter-connectivity between enterprise and individual, city, and environment will be manifested throughout the entire city, providing a vibrant atmosphere for individuals, and a high-end cross-boundary communication platform for corporates.
Strategic Location
Forest City is located in the extremely economically vibrant Iskandar Special Economic Zone in Malaysia. It is separated from Singapore by a bridge, with only 2 kilometers away from Singapore in a straight line.
SITUATED IN ASEAN
Forest City is located in the heart of ASEAN, currently the world’s seventh largest economic bloc as its GDP -which has been steadily growing – reached US$3.8 trillion in 2022. With a population of 600 million which exceeds that of European Union or North America, ASEAN presents a massive market opportunity. In addition, ASEAN has the world’s third-largest young population after China and India: approximately 61% of its total population is under 35 years old.
The region also boasts a growing middle class, with a consumption power projected to grow from US$1.5 trillion in 2015 to US$2 trillion in 2020, which will exceed that of India and potentially even China’s coastal region. The ever-growing population and the resulting expansion of consumption needs will trigger massive demands for infrastructure, creating new markets and opportunities for businesses.
The region also boasts a growing middle class, with a consumption power projected to grow from US$1.5 trillion in 2015 to US$2 trillion in 2020, which will exceed that of India and potentially even China’s coastal region. The ever-growing population and the resulting expansion of consumption needs will trigger massive demands for infrastructure, creating new markets and opportunities for businesses.
ADVANTAGEOUS LOCATION
The Iskandar Edge
Forest City is at the most advantageous location within the Iskandar special economic zone (SEZ). Located at the southern-most tip of Peninsular Malaysia and next to Singapore, Iskandar SEZ was established under the Economic Transformation Plan of the Malaysian government in 2006. Read More
The Iskandar Edge
Forest City is at the most advantageous location within the Iskandar special economic zone (SEZ). Located at the southern-most tip of Peninsular Malaysia and next to Singapore, Iskandar SEZ was established under the Economic Transformation Plan of the Malaysian government in 2006. With the size of three Singapores, Iskandar SEZ is the only SEZ invested by both Singapore and Malaysia governments with US$90 billion. Iskandar SEZ has arisen as the new focal point for global capital investment and Malaysia’s fastest-growing economic corridor, blessed with abundant natural resources, attractive government incentives, and the strategic location to capture the entire ASEAN market.
To establish itself as Malaysia’s centre of tourism, creative, information technology, and logistics, Iskandar SEZ has been actively courting foreign investment. Iskandar SEZ will invest US$100 billion to build a world-class economic development infrastructure. The SEZ already boasts various educational, recreational and retail facilities including EduCity, Legoland, Hello Kitty land, Angry Bird club, Medini shopping center, hotels under the Shangri-La group, Pinewoods Studio, MMU Film and Art School. Conglomerates such as Temasek Holdings, Alibaba, Xiaomi, Maersk Line and Columbia Hospital have also been established their presence in Iskandar, while Sunway group plans to build two more theme parks. The total GDP of Iskandar SEZ will exceed US$93.3 billion in 2025. Forest City is well-placed and well-poised to be an integral part of this broader growth trajectory.
Forest City strives to form a symbiotic relationship with Singapore. With close proximity to Singapore and abundant incentives offered by both governments in Singapore and Malaysia, the Iskandar Special Economic Zone has easily become the best destination for Singapore-based corporates pressed to expand. Since its establishment, Iskandar has attracted a total investment of more than US$5.7 billion from Singapore. Singapore-based companies expanding or relocating to Iskandar are entitled to enjoy incentives offered by Singapore government agency – International Enterprise (IE) Singapore – including: Internationalization Finance Scheme, Loan Insurance Scheme and Trade Credit Insurance Scheme, and Political Risk Insurance Scheme, just to name a few.
To establish itself as Malaysia’s centre of tourism, creative, information technology, and logistics, Iskandar SEZ has been actively courting foreign investment. Iskandar SEZ will invest US$100 billion to build a world-class economic development infrastructure. The SEZ already boasts various educational, recreational and retail facilities including EduCity, Legoland, Hello Kitty land, Angry Bird club, Medini shopping center, hotels under the Shangri-La group, Pinewoods Studio, MMU Film and Art School. Conglomerates such as Temasek Holdings, Alibaba, Xiaomi, Maersk Line and Columbia Hospital have also been established their presence in Iskandar, while Sunway group plans to build two more theme parks. The total GDP of Iskandar SEZ will exceed US$93.3 billion in 2025. Forest City is well-placed and well-poised to be an integral part of this broader growth trajectory.
Forest City strives to form a symbiotic relationship with Singapore. With close proximity to Singapore and abundant incentives offered by both governments in Singapore and Malaysia, the Iskandar Special Economic Zone has easily become the best destination for Singapore-based corporates pressed to expand. Since its establishment, Iskandar has attracted a total investment of more than US$5.7 billion from Singapore. Singapore-based companies expanding or relocating to Iskandar are entitled to enjoy incentives offered by Singapore government agency – International Enterprise (IE) Singapore – including: Internationalization Finance Scheme, Loan Insurance Scheme and Trade Credit Insurance Scheme, and Political Risk Insurance Scheme, just to name a few.
Malaysia & Iskandar
Singapore & Iskandar
Strategic Regional Location
- Direct airlines between Johor Bahru and 17 cities: :
Malaysia-Kuala Lumpur, Penang, Kuching, Ipoh, Langkawi, Sibu, Miri, Kota Kinabalu, Tawau
China-Guangzhou
Indonesia-Jakarta, Surabaya
Thailand-Bangkok
Vietnam-Ho Chi Minh City
A Bridge Away From Singapore: Exclusive Entry Points
Malaysia’s government approved the establishment on Forest City Entry Points to help cater to the increasing traffic demands. Every day, nearly 150,000 people travel between Malaysia and Singapore.
Forest City Location
Its superior location is a key factor enabling Forest City to attract a number of outstanding strategic partners in such a short time. Forest City will contribute significantly to the region’s economic growth through attracting spillover industrial opportunities from Singapore. Being a special economic zone within the Iskandar special economic zone, Forest City is the gateway connecting Singapore and Malaysia. It is easily accessible via land and water, being only 2km from Singapore and adjacent to the Tuas Second Link between Malaysia and Singapore.
As a free trade port, the Malaysian government has granted in-principle approval for an exclusive Custom Immigration Quarantine inside Forest City. It is also only a 10km drive from Port of Tanjung Pelepas, Malaysia’s biggest container port handling the highest volume. Forest City’s proximity to Singapore means that investors can enjoy Malaysia’s lower business operation costs while expanding their businesses by talking advantage of the platforms provided by Singapore. Residents can also enjoy Singapore’s metropolitan lifestyle at Malaysia’s lower costs.
As a free trade port, the Malaysian government has granted in-principle approval for an exclusive Custom Immigration Quarantine inside Forest City. It is also only a 10km drive from Port of Tanjung Pelepas, Malaysia’s biggest container port handling the highest volume. Forest City’s proximity to Singapore means that investors can enjoy Malaysia’s lower business operation costs while expanding their businesses by talking advantage of the platforms provided by Singapore. Residents can also enjoy Singapore’s metropolitan lifestyle at Malaysia’s lower costs.
DISCOVER
COUNTRY GARDEN
Country Garden is a high-tech integrated enterprise that creates a better society with its existence.
