Malaysia - Johor, Iskandar, Forest City etc

[behappyalways]

Is Forest City really a ghost town?
https://m.youtube.com/watch?v=mWhFrQxNT68

[winston]

Forest City celebrates its seventh anniversary in Malaysia

By Sharen Kaur

It encompasses 30 square kilometres with a total constructed area of around four million square metres,

It is currently home to Legacy Golf Course and Classic Golf Course, both 18-hole international-standard courses. The two golf courses are complemented by the five-star Golf Hotel and the Marina Hotel.

Forest City is expected to be completed by 2035.

The development's overall investment reportedly exceeds RM20 billion.

Source: NST

https://www.nst.com.my/property/2023/06 ... y-malaysia

[behappyalways]

‘Deserted ghost town’: Johor Country Garden condo residents concerned over unfinished projects amid China developer’s debt crisis
https://www.channelnewsasia.com/asia/jo ... na-3715791

[winston]

Forest City a special financial zone to boost economy, says PM

He said among the incentives were allowing for multiple entry visas, fast track entry for those working from Singapore and a flat income tax rate of 15% for knowledge workers.

"This will spur the growth of those involved in healthcare, education and tourism" .

The Immigration Department has been directed to look into the matter.

Source: The Star

https://www.thestar.com.my/news/nation/ ... my-says-pm

[winston]

Property developers with exposure to Johor gain investors’ interest after govt bid to turn Forest City into special financial zone

By Chester Tay

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/680355

[winston]

Forest City: Still searching for paradise

So far, the developer has built one of the four planned islands and enough high-rises and bungalows to house about 100,000 people – all at breakneck speed. “Where else can you find a major development consisting of 700 acres completed in seven years?” Syarul quips.

His colleague, Qiu Lipeng, regional vice-president of Country Garden, says 80 per cent of the island’s 26,000 residential units have been sold.

One key draw has been the 2018 opening of a branch of Shattuck-St Mary’s, part of the prestigious boarding school whose main location is in Minnesota.

About 200 students go there, and annual tuition runs as high as US$36,000.

In the near term, Qiu says Country Garden will focus on bringing businesses into the industrial park it’s built on the mainland just north of Forest City; for now it appears sparsely populated.

He also points to the success of the golf resort Country Garden has built a short drive farther inland, with two 18-hole courses. It draws about 75,000 visitors annually, Qiu says.

Source: Business Times

https://www.businesstimes.com.sg/intern ... g-paradise

[behappyalways]

What This $100B Ghost City Reveals About China’s Property Crisis | WSJ
https://m.youtube.com/watch?v=D0PxRxwTa50

[behappyalways]

Forest City: Of cleaners outnumbering shoppers in four-storey mall, hotels largely unoccupied
https://focusmalaysia.my/forest-city-of ... noccupied/

[behappyalways]

Will be interesting to see the effects on Singapore' s property market when RTS is completed in 2026

Johor Bahru real estate is increasingly favored by Chinese people
晨光第一线 | 新山房产日益受国人青睐
https://m.youtube.com/watch?v=eqHPUpB6l1s

[behappyalways]

To work in Singapore or not? The dilemma behind Johor's brain drain
https://m.youtube.com/watch?v=72PUWzjeqFY&t=36s