KULAI, April 20 — Seventy per cent of the property development in Forest City, Iskandar Puteri, has been sold within the past two years and is set to continue to increase over the next three or four years.

State Housing and Local Government Committee chairman Datuk Mohd Jafni Md Shukor said the impact of property sales would further boost the economic sector in the area.

“Many unsold properties over the past four years have been sold within two years.

“For example, in Forest City, which people call a ‘ghost town,’ many people do not know that 70 per cent of the real estate development there has been sold, as well as in Country Garden and the surrounding areas of Johor Bahru,” he told reporters after the Hari Raya Aidilfitri Open House in Hutan Bandar Kulai here today.

He said this when asked to comment on the number of properties sold in Forest City so far.

He said that it is among the positive impacts of the continuous efforts of the state government, which is always committed to addressing the issue of unsold properties.

Meanwhile, Mohd Jafni said the state government’s initiative to enhance the efficiency of work processes and governance to reduce red tape or bureaucracy in the government delivery system could be a catalyst for progress in the state.

He said this could be seen through a recent statement by Prime Minister Datuk Seri Anwar Ibrahim, who anticipated Johor to become the most developed state in Malaysia following the implementation of several high-impact projects.

“I fully agree with the Prime Minister’s statement because Johor Menteri Besar Datuk Onn Hafiz Ghazi has engaged with investors from Singapore and China. All of this is happening,” he said.

Last Thursday, Anwar was reported to have said that high-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and the Special Financial Zone (SFZ) could drive Johor’s economy to surpass other states within the next one to two years. — Bernama

https://www.malaymail.com/news/money/2024/0...ity-sold/129904

sold already but no one stay

Need wait for the final document for the SFZ, maybe a less stringent mm2h program?

Currently the unit was sold out but the owner unable to stay there more than 30 days due to the policy.

sold quantity = occupancy rate?

Forest City will be a success because it is so close to Singapore.

Heard they will now have water taxi straight from Forest City to Singapore. Travel time 15mins.

Need a special long term visa for Forest city area.

need to fish for more water fish

To be fair, this project was sabotaged by Mahathir in 2018 when he first became PM.

Dr M: Foreigners cannot buy residential units in Forest City
https://www.thestar.com.my/business/busines...foreign-buyers/

Then before Mahathir fall, China got new rules on foreign purchases.

Then Covid happened.

Then the developer almost failed.

i remember he go there and point2 finger at the forest city ads
crazy times

Go ahead & spin .

Let the gullible ones go buy 🤭

how many have subsequently default on their loan and faced foreclosure

how ? can take compress loan load up ?

Sister building for Amber Court.

what's the story with Amber Court ? haunted ?

Got any special discount?

Tot last week they said run down, not even 1 floor 1 people only?

these units were supposed to be provided free for China buyers when they buy expensive apartments locally in China

some sort of buy one free one deal, or a smart way to wash dirty money

that's the bubble komunis china bring to the world and infected everyone like their wuhanvirus, msia no exceptions when pencuri najib chose to work with ccp closely. all his keynesian expansionary policy would only help if productivity and output improve along, which never happened in msia because no way pencuri najib can stop protectionism and tongkatism, all he did was selectively kacau some conman mahathir crony like what the current half taliban pm did. all pencuri najib useless project now show their impact exactly like what ccp encounter in their stock market, property and fdi.

If sold people would like to collect the keys as fast as possible and move in.

Who wants to start paying their loans for nothing?

Where is the economic activity to support this home buyers?

They can't be all retirees who collect free pensions living there. These condos are close to half a million a unit.

when u sell to majority Mainland Chinese, mostly investors.

i remember i read somewhere in weibo before the buyers bashing the project said is ghost city. but some China netizen themselves laughed at them saying who are the one making it ghost city when buyer not staying in there.

If you look at the Sasaki Associates master plan for the forest city itself, the 4 islands will act as an CBD itself also has their own custom clearance and public transport. The current Forest city development is still long way to go.

https://www.reddit.com/r/malaysia/comments/..._apartments_in/

Can join in the reddit discussion.

Also, inside i spot some familiar name there

last chance to get it cheap

Current the cheapest is 370k...unless can lowball those PRC to let go maybe 200k for 500sf studio unit.

i see

maybe can try haha

the man made island will sink or not

if they cannot give then dont go for it. ..got alot opportunity in other area .

This post has been edited by Jazted: Apr 21 2024, 12:29 AM

but my favorite still r&f princess cove
if got rm370k then i will buy

600+ psf for a ghost city is still expensive. Even at 300 psf one has to think thrice before buying. Safer to buy in a sang ka la place in klang valley than forest city me thinks.

I saw got people post that price during mco. Too late bro

hard to say

malaysia is going down the drain

KL might be dead soon

at least johor near singapore might survive

oh no

so sad

Ok, Now 70% sold, next year 700% sold.

Yep buy only for own stay and work in Singapore. Investment then no.

Land reclamation is also used dubai

But it required years before the soil stabilize before major building work began. If too rush, can expect some crack in the wall due to soil settlement. (soil move abit then a crack on the wall)

Not haunted. Just an open portal to the other side.

JOHOR BAHRU, Malaysia, April 22, 2024 /PRNewswire/ — On April 18, 2024, Malaysia’s Prime Minister Anwar Ibrahim and entourage visited Forest City. The Malaysian Minister of Defense Mohamed Khaled bin Haji Nordin, the Malaysian Minister of International Trade and Industry Tengku Zafrul Aziz, the Malaysian Minister of Economy Mohd Rafizi bin Ramli, Johor’s Chief Minister, Onn Hafiz joined in the visiting.

The Forest City project in Johor, Malaysia has recently garnered significant attention, as it is set to host the ASEAN Tourism Forum from January 19th to 25th in 2025. This announcement was confirmed by the Minister of Tourism, Arts, and Culture, Dato’ Sri Tiong King Sing, and his team, who held discussions with the Johor state government.

The remarks made by the Malaysian Minister of Transport, Loke Siew Fook, have also captured public interest. During an interview, he mentioned the need for a reevaluation of the route if the new Kuala Lumpur–Singapore high-speed rail project were to resume. He emphasized the importance of incorporating the Forest City Special Financial Zone and the Johor-Singapore Economic Zone into the planning process to ensure sustainable development and synergize with strategic areas for regional growth.

Additionally, Johor’s Chief Minister, Onn Hafiz, revealed that the Johor-Singapore Economic Zone would be closely linked with the Forest City Special Financial Zone. This decision is expected to bring more investment opportunities, job creation, and development projects to Johor, benefiting both residents and businesses.


Furthermore, Onn Hafiz mentioned the establishment of the Iskandar Malaysia Facilitation Center, following the suggestion of the Minister of International Trade and Industry, Tengku Zafrul Aziz. This center will further facilitate business activities in the Forest City, attracting more investments to Johor.

These initiatives from both the Malaysian federal government and the Johor state government underscore their commitment to the development of the Forest City project. This concerted effort not only instills confidence in foreign investors regarding the viability of the Forest City as a strategic business hub but also positions Johor as a focal point for international investments.




https://digitalmore.co/the-forest-city-proj...cant-attention/