Coastal Green Vision: Forest City Sets a Benchmark in Sustainable Living

Recently, the 19th Global Forum on Human Settlements (GFHS) was held at the United Nations Headquarters in New York. Following its 2023 recognition as a "Global Model of Coastal Ecological Environmental Protection," Forest City has been awarded the "Global Human Settlements Award for Outstanding Contribution" for the ninth time, highlighting its commitment to environmental initiatives and advancements in livable urban development.

Forest City has consistently received international accolades, including the "2022 Global Model of Green and Intelligent Construction" and the "2021 Global Model of Low-Carbon City Planning and Design." It was also awarded the "2020 Global Model of Coastal Ecological Environment Protection" for its leadership in environmental conservation. The city was previously recognized in 2019 with the "Global Green Smart City" award for its pioneering smart city initiatives, and in 2018, it earned the "Global Model of City-Industry Integration Award" for its innovative approach to integrating urban living and industry. Earlier honors include the "2017 Global Green Building Industrial Park Demonstration Award" and the "2016 Global Human Settlements Award on Planning and Design," solidifying its reputation as a leader in green urban planning.

Commitment to Sustainability: Crafting a Green and Livable Urban Vision

Forest City’s continued recognition underscores its outstanding achievements in sustainability and human-centric environmental design. Committed to ecological preservation, Forest City prioritizes environmental protection at every stage of its development—from pre-construction assessments to post-construction operations.

Before any groundbreaking, comprehensive environmental impact assessments are conducted to minimize ecological disruption. During development, Forest City collaborates with environmental consultants like AES, hydrology experts from DHI, and partners with Universiti Putra Malaysia (UPM) and other environmental organizations. Over RM 140 million has been invested in conservation efforts, including seagrass and mangrove restoration. The city also runs an eco museum and has organized more than 30 volunteer activities alongside 10+ environmental education programs. Solar-powered energy and a seawater desalination plant in partnership with SAJ further emphasize its commitment to sustainable living.

To date, Forest City has established a green area spanning approximately 2.86 million square meters, with 256,000 linear meters of vertical greenery. Over 400 plant species and more than 10 million trees have been planted, contributing to regional sustainability efforts.

Policy Support Driving Comprehensive Development

On September 20, the Special Financial Zone (SFZ) policies for Forest City were officially implemented，making Forest City the first area in Malaysia where family offices can be established with zero corporate income tax for up to 20 years. Related fintech industries benefit from a 5% corporate tax rate for 20 years, while knowledge workers enjoy a 15% personal income tax rate. Additionally, new property transactions are eligible for a 50% stamp duty reduction, and foreign residents enjoy capital gains tax treatment equivalent to Malaysian citizens.

Forest City’s status as a duty-free zone dates back to 2016, with several duty-free shops already operating and providing a wide range of goods for residents and tourists. The recent completion of the Customs building paves the way for an expanded duty-free policy, potentially encompassing more sectors and including exemptions from import, sales, and service taxes. This development positions Forest City as a shopping and tourist destination.

Digital advancements are also prominent in Forest City, which is pursuing Malaysia Digital Economy Corporation (MDEC) recognition for digital status. This initiative aims to offer tax incentives for enterprises in digital hubs, smart technology, and green innovation, further bolstering Forest City’s reputation as a hub for digital and sustainable industries. Moreover, the Malaysian government has introduced a special Second Home policy for the SFZ, allowing applications with a minimum investment of RM 500,000, featuring lower deposit and property purchase thresholds compared to non-SFZ applicants.

Forest City’s growth is closely tied to Malaysia's supportive policies, which bolster its sustainability and development prospects. These strategies reinforce Forest City’s standing as a model for eco-friendly and economically dynamic urban development.

Receiving the "Global Human Settlements Award for Outstanding Contribution" reflects not only recognition of past achievements but also an acknowledgment of Forest City’s forward-looking vision. With continued policy support, Forest City is set to enhance its reputation as an eco-island, financial hub, duty-free zone, smart city, and safe community, leading the way in coastal island living experiences.