ISKANDAR PUTERI: The Johor state government is expected to earn about RM72 million from the revenue of land ownerships in the first phase of projects on the first man-made island in Forest City.
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said, in addition to this revenue, the state government will earn another RM2.58 million of quit rent from the 24,227 lots in the first phase of the project on Pulau 1.
"The state government is expected to receive a large amount from the registration of ownerships. For the first phase on Pulau 1, the revenue us expected to be RM72 million, which is based on a RM3,000 payment for each of the 24,227 lots in this first phase," he said in his winding up speech at the state assembly today.
Khaled said that the Chinese investments into Johor, such as Forest City will spell revenue in terms of taxes to the government.
He said the mammoth project has increased the value of land in its surrounding areas, and spurred more business opportunities for local traders and entrepreneurs.