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#1
11-01-2015, 12:50 AM
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Invest in Forest City! Huat Ah!
An honorable member of the Coffee Shop Has Just Posted the Following:
Quote: The ongoing controversy surrounding development of a massive reclamation project off the coast of Johor has been one of this week’s biggest news stories. Touted as the largest reclamation works of its kind in Malaysia, Forest City is just a few hundred metres from Singapore and is within proximity to tycoon Peter Lim’s multi-billion-ringgit Motorsports City complex in the Iskandar region. The mega-project has already attracted opposition from local fishermen and the Singapore government. Most recently, its developer rubbished media reports that the size of the project was cut considerably from 1,600ha to 405ha due to environmental concerns. Here’s what you need to know about Forest City.  1. Measuring 1,817ha, the man-made island housing Forest City is close to three times the size of Ang Mo Kio town. 2. The Forest City project is valued at around RM600 billion (S$225 billion) and will rise off the Tuas shore. 3. The yet-to-be launched development is a joint venture between Chinese developer Country Garden Holdings and Johor state investment arm Kumpulan Prasarana Rakyat Johor (KPRJ). 4. The entire development is expected to take 30 years to complete and will include luxury homes, a mega shopping mall, transportation centre with light-rail and bus network, 5-star hotel and yacht club. 5. Work on the development has stopped since June 2014 after fishermen complained about its possible effects on their livelihood, while Singapore raised the issue of reclamation works affecting its coastal waters. 6. Country Garden is also developing a waterfront project in Danga Bay featuring 9,000 high-rise residential units. Covering 50 acres, phase one and two have launched with more than 6,000 units already sold. The site was purchased in 2012 for RM900 million.http://www.tremeritus.com/2015/01/10...t-forest-city/ Malaysia Boleh anyone? Click here to view the whole thread at www.sammyboy.com. 
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