Forest City

sgtsk said:

China tourists in recent years made more than hundred millions man trips and spent over usd 300b annually, a lot on shopping luxurious items that are cheaper overseas.

FC also target the prc needs to shop for cheaper luxurious items. FC just need to capture a small chunk of this market.

Mind you usd 300b is about Singapore's reported accumulated reserve over 50 years.

"In the last four quarters of data, tourism imports were around $320 billion. The corresponding deficit rose from $75 billion in 2013 to over $200 billion in the last four quarters of data according to China Customs and state administration of forex exchange."

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Tekkun said:

This is what I found out at Forest City this afternoon.

1. Harbour Commercial Street is not just street but a 3 storey shopping complex. Stillrenovating but many shops had opened.
2. First phase of Forest City consisting of 14 blocks of condominium has been fully sold out. Now they are launching phase 2.
3. Shattuck St Mary International School had signed up.
4. The developer really do things on a mega scale. I think there are at least 50 sales personnel there.
5. I talked to some of the sales personnel and found out they are from China. So can assume PRC is their main target.
6. PRC bought mainly for the future of their children education. Ratiowise is 60% PRC and rest from other nationalities.
7. Average selling price is between RM1200 psf to 1600psf depending on level and facing direction.
8. There would be a Malaysian CIQ direct from Tuas to Forest City through a linkway as well as a Marine CIQ.
9. The Hotel is fully operational.
10. The showrooms are designed by a Singapore ID firm but all interior finishing are from China. Quite nice finishing.

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Tekkun said:

This is what I found out at Forest City this afternoon.

1. Harbour Commercial Street is not just street but a 3 storey shopping complex. Stillrenovating but many shops had opened.
2. First phase of Forest City consisting of 14 blocks of condominium has been fully sold out. Now they are launching phase 2.
3. Shattuck St Mary International School had signed up.
4. The developer really do things on a mega scale. I think there are at least 50 sales personnel there.
5. I talked to some of the sales personnel and found out they are from China. So can assume PRC is their main target.
6. PRC bought mainly for the future of their children education. Ratiowise is 60% PRC and rest from other nationalities.
7. Average selling price is between RM1200 psf to 1600psf depending on level and facing direction.
8. There would be a Malaysian CIQ direct from Tuas to Forest City through a linkway as well as a Marine CIQ.
9. The Hotel is fully operational.
10. The showrooms are designed by a Singapore ID firm but all interior finishing are from China. Quite nice finishing.

Click to expand...

Tekkun said:

This is what I found out at Forest City this afternoon.

1. Harbour Commercial Street is not just street but a 3 storey shopping complex. Stillrenovating but many shops had opened.
2. First phase of Forest City consisting of 14 blocks of condominium has been fully sold out. Now they are launching phase 2.
3. Shattuck St Mary International School had signed up.
4. The developer really do things on a mega scale. I think there are at least 50 sales personnel there.
5. I talked to some of the sales personnel and found out they are from China. So can assume PRC is their main target.
6. PRC bought mainly for the future of their children education. Ratiowise is 60% PRC and rest from other nationalities.
7. Average selling price is between RM1200 psf to 1600psf depending on level and facing direction.
8. There would be a Malaysian CIQ direct from Tuas to Forest City through a linkway as well as a Marine CIQ.
9. The Hotel is fully operational.
10. The showrooms are designed by a Singapore ID firm but all interior finishing are from China. Quite nice finishing.

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snowbird said:

Itsn't it a miracle that the very ground you were standing on today was still the sea just a year or two ago?
It is the same speed over in the South China Sea whereby deep sea port, airport runway, light house, control tower, workers bunks, residential buildings, etc were all completed within 2,3 years!
At this speed, it seems like the Chinese are building everything in accordance to their own specifications and the local authorities probably don't even know a hotel is already operating there.
50 sales people from China, probably none of them has a valid work pass.
The Chinese surely has a way to get away from all the necessary approvals, inspections, checking, etc..

What they had done to FC is actually a repeat of what they had done to the CG Danga bay.
The shopping complex there was already in operation while heavy construction works is going on for the rest of the project.
But the shopping complex had flopped big time.
Many shops, mainly restaurants had opened and closed, most of the shops over there are already the 2nd or 3rd generation all within about 30 months.
And this is in the city area, easily accessible for the public.

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Tekkun said:

To make real comments, one need to got here to see it with own eyes. No point talking from keyboards.

Actually the land is real. What they had launched now is 1st island and I won't even say that is reclaimed land as it is the land closest to mainland. Therefore land there is solid, maybe got filling up but minimal. There's some area which they are building semiD and bungalows. I suppose these are reclaimed land further out towards the sea and the price is something like RM5m for a 2500 sq ft cluster SemiD. These sold out condos will keep the developer very busy for the next 3 years.

The rest of reclaimed land,I dare not say. Even the very large scale model does not have any buildings on it. It is unlike what we see on pictures of it. Yes, I have to say that they are building at breakneck speed. I see highways being built replacing the present road.I see lorries going in and out into the sea filling up with sand. And the carparks are full. I drove around few times to find one.

As for the shopping complex, flop or no flop, time will tell. But I see a lot of PRCs there and it would be good to have something for them to do such as shopping. Whether they close down or not, doesn't matter as the main objective is to serve these initial buyers. Eateries are there. I myself took lunch at Paparrich. CIMB bank is also there. I see most of these PRCs are middle aged ones, so can say they are serious visitors. No yuppies.

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Tekkun said:

2. First phase of Forest City consisting of 14 blocks of condominium has been fully sold out. Now they are launching phase 2.

Very very impressive I must say, if they had told you the truth. You know salesmen lah.......and especially Tiongs in this case......

6. PRC bought mainly for the future of their children education. Ratiowise is 60% PRC and rest from other nationalities.

Singapore, being a Chinese majority race, have been resenting too many Tiongs and now it seems that Johor is taking over this task. I don't know if it'll be for good or bad in the long term, especially considering the current majority race in Johor.

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Manhattan said:

This kind of price makes those who bought high end condo on real land at 700 RM psf feels like they had a good deal.

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winners said:

It's a real pity that Medini (just about 12km away) pales horribly in comparison to FC.

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Investor888 said:

Forest City is on the way to Success! Its going to be more successful from Country Garden in Danga Bay. Sultan brand name helps.

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Tekkun said:

To make real comments, one need to got here to see it with own eyes. No point talking from keyboards.

Actually the land is real. What they had launched now is 1st island and I won't even say that is reclaimed land as it is the land closest to mainland. Therefore land there is solid, maybe got filling up but minimal. There's some area which they are building semiD and bungalows. I suppose these are reclaimed land further out towards the sea and the price is something like RM5m for a 2500 sq ft cluster SemiD. These sold out condos will keep the developer very busy for the next 3 years.

The rest of reclaimed land,I dare not say. Even the very large scale model does not have any buildings on it. It is unlike what we see on pictures of it. Yes, I have to say that they are building at breakneck speed. I see highways being built replacing the present road.I see lorries going in and out into the sea filling up with sand. And the carparks are full. I drove around few times to find one.

As for the shopping complex, flop or no flop, time will tell. But I see a lot of PRCs there and it would be good to have something for them to do such as shopping. Whether they close down or not, doesn't matter as the main objective is to serve these initial buyers. Eateries are there. I myself took lunch at Paparrich. CIMB bank is also there. I see most of these PRCs are middle aged ones, so can say they are serious visitors. No yuppies.

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jasonjst said:

Got any good quality Massage and Spa open there ? This weekend must find some time to go there

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Tekkun said:

This is what I found out at Forest City this afternoon.

1. Harbour Commercial Street is not just street but a 3 storey shopping complex. Stillrenovating but many shops had opened.
2. First phase of Forest City consisting of 14 blocks of condominium has been fully sold out. Now they are launching phase 2.
3. Shattuck St Mary International School had signed up.
4. The developer really do things on a mega scale. I think there are at least 50 sales personnel there.
5. I talked to some of the sales personnel and found out they are from China. So can assume PRC is their main target.
6. PRC bought mainly for the future of their children education. Ratiowise is 60% PRC and rest from other nationalities.
7. Average selling price is between RM1200 psf to 1600psf depending on level and facing direction.
8. There would be a Malaysian CIQ direct from Tuas to Forest City through a linkway as well as a Marine CIQ.
9. The Hotel is fully operational.
10. The showrooms are designed by a Singapore ID firm but all interior finishing are from China. Quite nice finishing.

Click to expand...

jasonjst said:

Is free hold or leasehold. No 1m restrictions for foreigners ?

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potter said:

locusts lai liao...:p
http://www.epochtimes.com/gb/16/10/1/n8354895.htm

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snowbird said:

Itsn't it a miracle that the very ground you were standing on today was still the sea just a year or two ago?
At this speed, it seems like the Chinese are building everything in accordance to their own specifications and the local authorities probably don't even know a hotel is already operating there.
50 sales people from China, probably none of them has a valid work pass.
The Chinese surely has a way to get away from all the necessary approvals, inspections, checking, etc..

What they had done to FC is actually a repeat of what they had done to the CG Danga bay.
The shopping complex there was already in operation while heavy construction works is going on for the rest of the project.
But the shopping complex had flopped big time.
Many shops, mainly restaurants had opened and closed, most of the shops over there are already the 2nd or 3rd generation all within about 30 months.
And this is in the city area, easily accessible for the public.

Click to expand...

rotikok said:

From what i heard, there arent many ideal investment option for mainlanders, stock, derivatives, commodity futures etc all kena burn when they flock in massively. Even they conspiracy said that china gov purposely create stock bubble that they knew will eventually burst, to give much needed cash to china many startup. The problem is ppty market, they dont want to deflate which can cause more problem. Rather stagnant or grow at more stable slow pace. On the other hand, they need to direct those money to somewhere else, FC got government support also bcoz of this, they need to direct the rich to spend on something else rather on 1st 2nd tier city ppty.



Aiyah, malaysia can allow so many bangla without approval, ah tiong come here shud be more legit because they are xenophobia to many one fairer than them. Although keep on saying oversupplied, authority cant stop them on this reason ground bcoz they are really selling their product out, only those that cant sell kena stop, many no finance to even start.

A construction site got shops, consider good ady. I do not even expect got shops to begin with, even by singaporean standard, also unique, sg construction site got shops open de meh? Only ah tiong can make it happen. What flops? Shopping mall open ady?? I thought only ground floor few restaurants only? Really open ady? I thought still building, not accessible yet?

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Tekkun said:

All located at upstairs 1st floor. Got supermarket, the SECOO, Getha Matress, Kopitiam, H&M, Monkl outlets, Birdnest also got.

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