Malaysia's $100 billion luxury estate is a ghost town full of empty skyscrapers and deserted roads

[Filloz]

Malaysia's $100 billion luxury estate was supposed to be a 'living paradise.' Instead, 6 years into development, it's a ghost town full of empty skyscrapers and deserted roads — take a look.​

Forest City is huge: It spreads across 1,740 hectares, or four times the size of city-state Monaco. Around 700,000 people were initially expected to live in the estate.

But as of 2019, only around 500 people lived in the estate, according to a 2019 report by Foreign Policy. An expert who declined to be named for security reasons told me the estate's population has since grown to several thousand — which is still less than 5% of the expected number of residents.

"In spite of the technological innovations used to reclaim and build, sand dumped on m&d seabed needs more than the publicised time to settle," Serina Rahman, a Malaysia-based scientist and researcher, wrote in her book "Johor's Forest City Faces Critical Challenges." Cracks have appeared on some of the estate's buildings and sections of road have sunk into the ground, she wrote.


https://www.insider.com/ghost-town-malaysia-forest-city-china-developer-estate-photos-2022-6

 

[syed putra]

Once high speed rail project proceed, all it takes is a commuter rail line between forest city to jurong east to transform this project.

 

[JohnTan]

Once high speed rail project proceed, all it takes is a commuter rail line between forest city to jurong east to transform this project.

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

 

[Confuseous]

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

They will not run any major projects with us - they can't profit from the side profits.
Which is why so many of our "joint projects" have failed.
Even when they cancelled the Mad Hatter's crooked bridge, the contractors were
compensated by more than the original projected costs.

 

[red amoeba]

It was doing well until Mahathir put a stop to it since his son’s and cronies are not benefiting from it. When Najib is back he will restart it.

 

[syed putra]

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

Long term stay problem can easily be overvome by annexing forest city to PAP.

 

[syed putra]

It was doing well until Mahathir put a stop to it since his son’s and cronies are not benefiting from it. When Najib is back he will restart it.

It wasn't due to dr m.
Project was scuttled by najib as he imposed visa restrictions for visitors from china and india.
Plus he increased mnimum price a foreigner can purchase homes from RM500k to RM1 mil.
Previously a huge number entered the country from sinkie when no visa was required.
Those china visitors coming in through sinkie has dissipated.

 

[Loofydralb]

Foreigner buying property in Malaysia is like throwing money to an endless pit.
Even my kakis who owns property there wants to sell, even at a loss.
His house was thrashed by thieves during covid and probably needs RM100K to repair.

 

[blackmondy]

Once high speed rail project proceed, all it takes is a commuter rail line between forest city to jurong east to transform this project.

Dumb mutts are just like tiongs, both are very good at daydreaming.

 

[Hypocrite-The]

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

It's mudland as a whole...not just jiuhu

 

[Leckmichamarsch]

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

nvr invest in Jib property...you will be screwed L T C
Tan Kin Lian boasts of owning one
Now so quiet

 

[syed putra]

Of course you don't have to buy. Just rent.
Buying assets in country with falling currency is a no no.

 

[SBFNews]

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

Well said. I have added to your points.

 

[laksaboy]

China's dirty money has dried up. That's all.

https://en.wikipedia.org/wiki/Forest_City_(Johor)

https://en.wikipedia.org/wiki/Country_Garden

 

[congo9]

Mudland is so big and lack of population and it also lacketh someone who has the brain and heart to transform this southern corridor.

 

[eatshitndie]

money laundering syndicates in hk helping to smuggle tiong money out of prc kena busted by hk police one by one. the latest involves the arrest of one woman who works for a local “money changer.” hk police got suspicious when local banks alerted local authorities about numerous transactions of new deposits in big amounts in hk dollar in any single day. the woman makes much less than her deposits based on her incum profile. apparently the “money changer” boss converts massive amounts of rmb to hkd as the primary part of his business operations. how so much prc money gets to him is still under investigation. for now only the woman is arrested. the boss cannot be contacted or his whereabouts not known as he may be hiding or being protected by mainland officials who are also deemed to be involved in money laundering operations. it is highly likely that ccp officials themselves are stashing their money in foreign currencies and foreign banks. the hk police is not getting cooperation from their counterparts in the mainland to trace the source of the funds.

 

[syed putra]

Mudland is so big and lack of population and it also lacketh someone who has the brain and heart to transform this southern corridor.

BAdawi transformed jb. He even suggested open borders to sinkie but dr m started a campaign to bring him down.

 

[congo9]

Opening border to Singkie will eventually lead to the demise of Malay, which Mahathir is also correct.
Mahathir knows that.

 

[jw5]

It's probably not going to happen. Jiuhu is usually full of talk, no action. They need a People's Action Party to run things properly.

This condo project is doomed to be deserted. The property pricing is targeted towards foreigners, with the intent of giving them long term visas to stay in and attend their own schools, living in a parallel society with minimal interaction with local jiuhukias. But that was soon deemed to be politically unacceptable.

The moral of the story is not to invest in jiuhu property. Their laws change drastically very easily. There's too much uncertainty and corruption in jiuhu.

It will be worrying if the PAP were not in charge of Singapore.

 

[Flying Horse]

China's dirty money has dried up. That's all.

https://en.wikipedia.org/wiki/Forest_City_(Johor)

https://en.wikipedia.org/wiki/Country_Garden

That is the most crucial part. The day where small investors from CCPLand can sneak out some money to invest overseas is over. Most of those major Developers who used to get thier funding from China EXIM Bank for projects in Southeast Asia are asked to borrow locally. Which bank wnat to lend money to them when they are well known in making ghost town ?