China’s largest property developer Country Garden unveiled Forest City – a $100bn (£78.9bn) mega-project – in 2016.
In Malaysia, Country Garden’s plan was to build an eco-friendly metropolis featuring a golf course, waterpark, offices, bars and restaurants. The company said Forest City would eventually be home to nearly one million people.
Eight years on, only 15% of the project has been built and, according to recent estimates, just over 1% of the total development is occupied.
Despite facing debts of nearly $200bn, Country Garden told the BBC it is “optimistic” the full plan will be completed.
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34 Comments
Atleast they don't go around bombing , killing, stealing for natural resources where the main steam pimp media defends every genocide.
Where is the shinning sun in Malaysia BBC?
"F@3k it! We will make the whole video in black & white" Says the producer!
But we wont worry about our own economy! We still think we run the world and have the right to comment on everybody else's economies while our colonial audience give us a standing ovation as our own economy Tanks! Pathetic!!!
BBC SHOULD DO A REPORT ON HOW THE BRISHIT LEFT OTHER ECONOMIES AROUND THE WORLD AFTER PLUNDERING THEM FOR CENTURIES!!!!
There was news bout Palestine at the bottom
Successfully completing a project is not how fast you complete the construction, but how the space is utilised according to the project plan. One next project on race is Saudis Line, it requires slower time to occupy than it getting completed. Real estate is a business of selling and maintaining the space. You have to create demand before supply. UK have a good demand for students living space but they decided to reduce student intake, closing down the demand is a bad idea. Malaysia shall produce demand in that area by promotion on expats visa, then demand would increase. This restriction is to provide opportunities to natives, but there could be a balance in this.
One million occupant load for Jb to cater a smaller singapore was in proportionate size in project planning. China is doing same mistakes in china too
https://youtu.be/7QIEU9KkY5g?si=0TiePc3tpFIlnCFF
good, bad; bad, good…
很感動
BBC had to find this didn’t they ! That’s what they do !
China is scamming their own people to buy properties before there finished.
What a compliment waste of resources and money a disaster altogether
Life after people
Turn it into a Resort 🤷🏽
That would be a very creepy place to live. And with only 1% occupancy, how long would it take them to get to even 20% occupancy? Even at 20% occupancy it's still going to be a lonely, sad ghost town.
Good . China stop flooding South Africa and rest of africa with your goods. Causing millions of people to be Unemployed.
Islander is a typical failed project by Malaysian project … 1MDB is an example with this project … Stupid idea was that being so close to Singapore will be successful … Nah … Only sounds good by itself, but doesn't jive for so many reasons.
if the occupancy ratio is 1% are the other owners picking up the maintenance fees and sinking fund fees? Unless they get it filled no one will want to pay the fees for other units because the are vacant. They will just increase the amount of fees based on sqm and the fees will or maybe already have gone sky high.
😢
Hey royal family…stop putting this dumb ass British shyt in my feed…i don't care…
This is a typical BBC half-true hit piece. Yes while all of this is true and its a total disaster, more than country garden the two combined factors 1) the funding break by CCP and 2) Malaysian side backfire are both equally responsible for the developer not being able to finish it. Portrayal here is simply wrong.
Forest City is a bargain compared to Singapore. It'll fill in eventually.
this is north korea project. malaysia no diplomatic of north korean
Thats right where people want to live.right next to a beach where there's lots of big crocodiles,ill pass.its in the middle of nowhere to.
Gud luc Forest City, gud luc chum.p…hahaha 😂
Sou Brasileiro e tenho vontade de morar aí nessa cidade .
We Know Chinese Tactics 🤣🤣
All that money that went into propping up ghost cities all over China (and now Malaysia) could have been better spent building affordable housings for every Chinese citizen and selling those to them at discount value.
What happen????didnt study the place first???
Buildings can be empty long time
Loser
Sucked 😢😢😢😢😢
Why the locals cannot benefit from this abandoned houses? I mean, given the current situation, the price to buy an apartement should be very cheap
Such a waste. This could be a second chance for people living in poverty.
4 gatti