[ Johor, MALAYSIA ]
Mahathir Mohamad, former prime minister of Malaysia, has blogged today with concerns about the Forest City mega development in southern Malaysia. China’s Country Garden holds a 60%+ interest in the large-scale real estate project.
Mr. Mohamad’s concerns are about the increasing foreign ownership of large expanses of Malaysian land.
From a March, 2015 post:
The build-out value for the Forest City development has been estimated at $121 billion. Development has been reported in local media to be planned over four phases, with completion in 2045.
Work was stopped in mid 2014, to allow some re-work of the the project’s scale, due to environmental concerns. When first conceived the Forest City project was to include almost 2,000 hectares of reclaimed land in the form of new islands in a bay between Malaysia and Singapore.
The Forest City project is a development of Country Gardens (Guangzhou), acting in joint venture (66/34) with a company affiliated with the Sultan of Johor, rule of Johor State (Malaysia).