As the Johor-Singapore Special Economic Zone (JS-SEZ) moves from policy to implementation, Forest City’s two emerging growth engines — industrial investment and the single-family office (SFO) ecosystem — are gaining traction.

The JS-SEZ spans more than 3,500 sq km across nine flagship zones and 11 priority sectors, attracting RM76.98 billion in approved investments in 2025. Forest City is one of the nine flagship zones, with its 418-acre IBS industrial park and financial zone both falling within the JS-SEZ. Phase 1 is largely complete and the township is home to around 20,000 residents; the development is now shifting towards commercial and industrial expansion.

Johor is already a Malaysian hub for electrical and electronics manufacturing, semiconductor packaging and data centres. Against this backdrop, Forest City’s industrial park received more than 300 enquiries from manufacturing, smart-device and supply-chain companies in the first half of 2026.

A Singaporean manufacturer has secured 40 acres in Phase 1, while discussions are ongoing with data centre operators. Ready-built factories are planned for Phase 2, subject to market demand.

“The appeal lies in the ‘front shop, back factory’ model — Singapore provides headquarters, financing and regional management functions, while Forest City offers the land and talent base to support operations," says Sr (Dr) Samuel Tan, Founder & CEO of Olive Tree Property Consultants Sdn. Bhd.

“Within the JS-SEZ, the industrial park and financial zone complement rather than compete with each other. Manufacturers benefit from access to professional services, while financial-sector players gain from the economic activity generated by industry. Together, they create a broader ecosystem that can attract a more diverse pool of investors, stimulate business activity and generate new employment opportunities.”

On the financial side, Forest City is developing a fund management platform aimed at channelling investment into Johor's digital-economy pipeline and the grid infrastructure supporting its data centre cluster.

“For families exploring alternatives to Singapore, the Forest City Special Financial Zone (SFZ) offers a more accessible entry point, attractive tax incentives and access to Malaysia’s established Islamic finance ecosystem. The availability of both conventional and Shariah-compliant financial products within a single regulated environment presents a distinctive proposition in Southeast Asia,” said David Chong, founder of Yow Kee Investment Holding, one of the earliest single-family offices (SFOs) to establish a presence in Forest City.

That ecosystem is already taking shape. The on-site Invest Malaysia Facilitation Centre Johor (IMFC-J), jointly led by MIDA, IRDA and Invest Johor, serves as a one-stop centre for investment facilitation, incentives and approvals. Maybank and CIMB have established branches in the township, while AmBank also has opened a private banking and asset management office on site.

Forest City has also signed an MoU with Oriental Holdings to explore the development of a proposed RM750 million healthcare hub anchored by a 500-bed hospital. A prominent local public university has also reached an agreement to establish a campus and student accommodation within the development.

Connectivity is another part of the proposition. Forest City operates daily shuttles to the Second Link CIQ and is working with state authorities on feeder connections to the RTS Link. Management is also exploring ferry services connecting the township directly to Singapore's southern coast.

More than 100 F&B and retail outlets now operate across the township, providing an established commercial base to support its expanding industrial and financial activities.

"We are seeing more commercial activity across Forest City," says Maggie, who runs CJ Café. "Weekends are particularly lively, and as more businesses, professionals and visitors come to the township, we expect demand for a broader mix of dining, retail and services to grow. We see real potential in being part of that expansion."

For companies exploring the JS-SEZ, Forest City offers more than a business location. With its industrial and financial infrastructure and emerging ecosystem, the township provides a platform for manufacturers, investors, financial institutions and service providers to grow with it.