• Sat. Apr 20th, 2024

Luxury Ghost Town: A Look at Forest City, the $100 Billion Project Built by China’s Country Garden with Low Occupancy Rates

BySamantha Jones

Apr 3, 2024
I Understand Why Forest City Condos Are Often Vacant After a Night’s Stay

In southern Malaysia, Forest City is a luxury development built by China’s largest developer, Country Garden, at a staggering cost of $100 billion. Covering four square miles, the estate features towering apartment buildings and a pristine white-sand beach overlooking the Johor Strait, with stunning views of industrial plants in Singapore.

During my first visit to Forest City in May 2022, the development appeared abandoned, with dark windows in hundreds of apartments and few people on the roads or at the beach. Despite plans to house 700,000 residents in the next six years, only 9,000 people currently call the estate home.

My curiosity piqued during my initial visit, I decided to stay overnight in one of the vacant apartments during my return trip to Forest City in March 2022, eight years into its development. Through a property manager, I booked a homestay at a condominium unit for 70 Singapore dollars ($52) per night. Similar units are available on Airbnb for as little as $38 per night.

The owner of the unit declined to comment on my story due to privacy concerns. Despite multiple attempts to contact them through their property manager and via email and phone calls, Country Garden did not respond to any inquiries from Business Insider regarding the status of Forest City or its future development plans. This raises questions about the estate’s appeal to potential residents and its long-term viability as an investment opportunity for China’s largest developer.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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