Forest City: Inside Malaysia's Multi-Billion-Dollar Ghost Town | 4K Walking Tour.
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- Опубліковано 9 лис 2024
- Forest City: Inside Malaysia's Multi-Billion-Dollar Ghost Town | 4K Walking Tour.
This video was recorded last July 10, 2024 at around 05:30 PM.
Forest City is among the most ambitious real estate ventures in Southeast Asia, estimated at around $100 billion. This project is a collaboration between Country Garden Holdings, a prominent Chinese property developer, and Esplanade Danga 88, affiliated with the Sultan of Johor. It aims to create a high-end, eco-friendly city across four artificial islands covering 3,425 acres in the Johor Strait.
From the beginning, China played a crucial role in Forest City. Country Garden Holdings, headquartered in Guangdong, China, led the project with substantial financial resources and expertise in large-scale developments. Their strategy primarily targeted Chinese investors and buyers, using an extensive marketing network in China, resulting in many early property sales to Chinese nationals.
This heavy dependence on Chinese buyers became problematic due to several factors. In 2017, the Chinese government imposed strict capital controls to limit money flowing out of China, making it challenging for Chinese investors to buy overseas properties. This policy change led to a significant drop in property sales in Forest City.
Additionally, Malaysia's political landscape added to the project's challenges. The election of Prime Minister Mahathir Mohamad in 2018 brought increased scrutiny and criticism of foreign investments, especially large-scale land developments. Mahathir's administration introduced regulations to restrict foreign property ownership, aiming to ensure such projects benefited Malaysians. Forest City became known as Malaysia's abandoned ghost city, a multi-billion-dollar failed project.
These factors, including Chinese capital controls and Malaysian regulatory changes, created significant financial difficulties for Forest City. The project experienced a slowdown in sales, leading to delays and a reevaluation of its marketing and development strategies. Despite these issues, Country Garden continued to invest in the project, adopting a revised approach to attract a broader range of buyers and investors, including locals and other international markets.
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Also there is nobody there to repair the buildings or fix the roads or utilities. It's doomed to fall into disrepair. It looks nice now but in 10 years not so much.
Yes, you make a great point. Hopefully, they can find a way to make these large facilities beneficial for everyone. Thank you for watching.😁😁👍👍🙏🙏🤟🤟🎉🎉✌️✌️
cocok kayaknya balapan
Cocok juga klau mau cobain antum..😊😊
@@WanderWalkTour astfirlulllah anda mau membunuhkah
Since it's called a ghost city, those people I saw at the beach, in the pools and in the shops and restaurants must be ghost 😊.
Good one, haha. Anyway, Forest City covers a vast area, and I've only explored the parts where there are still people around. The rest of the buildings surrounding it are abandoned, just like the prominent building in the background, which is why it's called a ghost town. Thanks for watching, and have a great day!😁😁😀😀👍👍🎉🎉✌️✌️🤣🤣
Forest City will be the first location in Malaysia to offer a 0% tax rate for family offices, says Datuk Seri Amir Hamzah Azizan. The Finance Minister II added that the 0% tax rate for family offices was among a competitive package of incentives to make Forest City a magnet for international capital.
Oh, that’s great to hear! Hopefully, it will help revive the area.✌️✌️👍👍🎉🎉🥳🥳😀😀
The owners from China bought at the peak price of the market hoping to make profit from their investment and not for own stay. Couple with misinformation that they would be granted PR for owning the property in the area. Owners have great holding power and not selling the properties at big discount. Now, there are not enough tenants to fill the empty units hence the quiet surrounding of the area.
Thanks for watching and sharing your thoughts. Have a wonderful day!😁😁👍👍🤟🤟😀😀🎉🎉🙏🙏✌️✌️
It will be smashing and roaring boom time very soon!!! Buy! Buy! Buy!…Take your own risk! No knows what future will be! Que Sara! Sara!
Hopefully,, Thank you for watching. Hope you have a great day.❤️❤️😃😃😀😀🎉🎉✌️✌️👍👍
Boss bus location ambe....paser gudang Ada Ka bus. ..ini ..😊... location bagi saya 😊
Terima kasih kerana menonton video kami. Maaf saya bukan orang jb. Saya tak berapa pasti. 🎉🎉👍👍🥳🥳✌️✌️😃😃
Imagine those Chinese investors who own units and don't live here. They cant sell it and they are still paying maintenance fee monthly for years! They are losing lots of money and the value of the units keep depreciating! people you see here are mostly tourists (they do not live here). One DAY, a big tidal wave will destroy this place and the ocean will reclaim it! Another failed Chinese expansion in another country!
😔😔😔,, Thank you for watching.🎉🎉🤟🤟✌️✌️🙏🙏
Beach Football size like Street Football, this too, if nearer to Sea is cooler? Goggle and Mask as Sand Protection and Quick Plays and Turns Only(if too many want to try, I think it will increase skills really fast). Keep lagging, their decision of moment can't be rescued from it, I think it's using aluminium or laser and torchlight to block internet smoothness. Add Putty Golf Obstacles Too.
Thank you for watching and for you're continous support., have a nice day.😁😁👍👍🤟🤟😀😀🎉🎉🙏🙏✌️✌️
Chinese did the same thing in Sihanoukville, Cambodia. It's a disaster.
Oh, it’s unfortunate that those things happened. Anyway, thank you for watching, and I hope you have a great day.🙏🙏🎉🎉✌️💞🤟🤟😔😔
You silly boy, ask the local people do they think this is a disaster. Do not judge for other people, you are not God but a silly boy brain washed by west media
tajuk nak gempak je
😀😀😀. Thank you for watching, hope you have a great day.😀😀🎉🎉👍👍✌️✌️🥳🥳
""" I SEE NO GHOST "...just leave it as an disney attraction of a us$100 billion ghost town as first world attraction---hollywood can use as lot 4 blockbusters ghostbusters , spider man , woverine , batman lol..wat a load of warm crap
Yeah, 🤣🤣. Thank you for watching.