KUALA LUMPUR, April 23 -- Forest City's Special Financial Zone (SFZ) in Johor Baru has welcomed its first two family offices - CMY Capital Family Office and Yow Kee Family Office - and is attracting growing investor interest, with 30 other companies expressing intent to establish operations there.

Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said both family offices have obtained approval from the Securities Commission Malaysia, according to a report published today in The Edge.

To qualify for the zone's 0 per cent tax incentive, family offices must manage a minimum of RM30 million in assets and receive SC approval.

In a statement by Forest City developer Country Garden Pacificview Sdn B...