The Ghost Town Of Forest City Malaysia Is Beautiful With Lots Of Parks But Empty Of Residents

The Ghost Town Of Forest City Malaysia Is Beautiful With Lots Of Parks But Empty Of Residents

The ghost town of Forest City Malaysia is beautiful with lots of parks but empty of residents. Forest City, located in Johor in the southern region of Malaysia. It is an empty housing complex with no residents. This housing project worth 100 billion US dollars was built on an artificial island located not far from Singapore. The goal is to accommodate 700 thousand people by 2035.

A retiree from Malaysia, who wanted to be identified only as Lim, is one of the city’s few residents. He bought two apartment units from investors from China. After the public learned that Country Garden, the private developer from China that built Forest City, was experiencing financial problems, many buyers wanted to sell again.

So far, most of the 28 thousand apartment units have been sold. But almost no owner occupies it. Lim believes this will change as the city expands. Wherever you go in Forest City, you will find lots of parks. But unfortunately, most of the apartments are empty and seem to just be investment properties for buyers.

To attract more residents, the entire area has been designated as a tax-free zone. But experts say this is not enough. To attract more economic activity. The Malaysian government announced plans to create a special financial zone in Forest City. These towers are provided specifically for companies to create profitable employment opportunities for local residents.

The real threat to residents is not the presence of crocodiles in the surrounding waters, but Country Garden, which is the developer with the most debt in the world. So far, only 15 percent of their plans have materialized. Much more investment is needed to defend the city.