Forest City, RM175.8 billion, 20 years and eight core industries

There has been many news about Forest City earlier. The latest one is a good one. As per reported in Bernama. It has been formally unveiled by Country Garden Holdings Co Ltd, a Hong Kong-listed property developer. While not reported prominently, I think the following points are very important for the whole 1,386.05 ha which is a joint development with Johor’s Esplamade Danga 88 Sdn Bhd. It said that Country Garden is in discussions with the Malaysian government for dedicated entry points such as a light rail transit system and a ferry network linking it to Singapore as well as to the planned High Speed Rail (HSR) between Singapore and Malaysia. Read here: Singapore Transport Ministry: Not yet true, still discussing

Forest City will be the first in South-East Asia to incorporate the largest mixed-use green development with a vertical greenery and smart city design together with the number of units to be built. It is expected to take a total of 20 years and is expected to be the catalyst for economic development in the Iskandar region and even neighbouring Singapore. Read here: Iskandar as Singapore’s output hub, seriously It will have eight core economic pillars of growth including education, healthcare and tourism. There would also be Car-free zone and luxury green living co-existing with smart technologies and amenities. It is Forest City’s largest real estate project outside of China. This really says a lot about how Chinese developers see the potential of Malaysia within South East Asia. The first part which will open for global sales (Singapore, China) and Malaysia soon includes condominiums and high-rise coastal residences. Choices include two to four-bedroom condominiums and high-rise coastal residences.

To be honest, my focus for 2016 would only be for secondary properties unless some primary developments are so attractive that I could not escape. However, I am very interested to know about this project because this is a development which has no equivalents in this part of the world. The size dwarfs over everything on paper currently. I just hope that the first few phases would be affordable enough for many to own a piece of the action, hopefully Johoreans too. Read here: Locals may not be the first to buy; beware locals The comparison in terms of prices in RM versus the S$ HDB flats in Singapore is fair but the links must be confirmed first for this to happen. Else, that 3-4 hour journey every working day is going to be a huge stumbling block. As for buying it as just a getaway residence, not many Singaporeans may be looking currently. Super-rich ones would be looking at developed nations while the middle class has many things to think of first. Happy following and visiting.

written on 23 Jan 2016

Next suggested article: Forest City. GDV down but it’s full steam ahead 

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