Would you live in a ghost town? Millionaire development has everything, except residents

In the southern reaches of Malaysia, a enterprise grand urban looms on the horizon. Named after ‘Forest City‘, this luxurious complex rises majestically with its gleaming towers, promising a futuristic lifestyle and unparalleled amenities.

Behind the glittering facade and imposing infrastructure lies an intriguing enigma: a city brimming with amenities but notably lacking in one essential element — its inhabitants.

This happens because, despite the high investment, the project has become a true ghost town.

The million-dollar enterprise that became a ghost town

Forest City seen by Google Earth – Image: Google Earth/Reproduction

Forest City, an ambitious city situated in southern Malaysia, in the state of Johor, is a colossal real estate development valued at US$100 billion, with the vision of becoming a futuristic model.

The location prides itself on its diverse offering: modern, luxurious residences, a wide range of amenities and panoramic sea views.

Furthermore, the city is home to contemporary offices, a golf course, a water park, a shopping center, bars and restaurants, exhibiting a modern and avant-garde style, which resembles the infrastructure found in large Chinese metropolises.

The project faces a major problem: although it was designed to accommodate thousands of people, only a few currently live in the area.

The venture, designed to attract investors Chinese people with considerable purchasing power, was financed by Country Garden, a company with Chinese and Malaysian capital.

However, it did not achieve its projected goals. Only 15% of the project has been completed, and it is estimated that just over 1% of the total space is occupied.

Initially thought of as a paradise for Chinese investors in Malaysia, Forest City has become a virtually uninhabited area.

The development was designed to offer high-quality apartments at a more affordable price than other coastal cities Chinese, attracting buyers looking for a second home or rental investment.

However, the city was not intended for Malay citizens, which raised concerns about the possibility of it becoming a Chinese colony.

The project faced controversy due to construction on environmentally protected islands, contrary to its initial purpose.

Furthermore, the location near the Tanjung Palasan port and the proximity to Singapore, surrounded by communities with insufficient income to live in Forest City, created a challenging scenario.

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The peculiarity of the project, combined with the Chinese real estate crisis, visa restrictions for Chinese buyers and the impacts of the Covid-19 pandemic, resulted in increasing difficulties.

Currently, Country Garden is facing a debt of 200 billion dollars, as reported by the BBC.