Malaysia ’s attempt to recast Forest City from a China-backed “ghost city” into a hub for global wealth and mobile talent is facing an early governance test after police last week uncovered two alleged online scam syndicates operating across 32 luxury homes. The raids have sharpened questions over whether oversight is keeping pace with Putrajaya’s drive to revive the waterfront project beside Singapore. The Forest City development in Johor Bahru, Malaysia, in December 2023. Photo: EPA-EFEForest City is Malaysia’s first special financial zone and sits within the wider Johor-Singapore Special Economic Zone framework. The government is offering tax incentives and a dedicated visa track to attract family offices and high-value workers.