Malaysia’s ambitious Forest City has been launched with the prediction Southeast Asia’s first mega mixed-use green development will become its biggest in unit numbers over the next 20 years of its development.
Boasting a vertical greenery and smart city design theme, the project will span 1,386 hectares on four man-made islands with an estimated investment of US$58.3 billion (Bt2 billion). Forest City is expected to fuel the economy in the Iskandar region and neighbouring Singapore.
The entire development revolves around multi-layered three-dimensional city planning and will feature dense foliage and multiple forms of public transportation that promises to operate at high efficiency and sustainability, with renewable energy infrastructures. The project will boast a futuristic green design and smart technologies, and is set to become a model of future cities.
Forest City has adopted best practices to minimise its environmental impact. It is doing this through integrated solutions to achieve zero impact on the surrounding area. It is China-based Country Garden’s largest real estate project outside of China, and is part of the group’s internationalisation strategy to increase its overseas presence.
The group has completed residential projects in Australia and Malaysia and is eyeing the launch of projects in Indonesia and Vietnam in the near future.
Recognised by the Guangdong provincial government as one of the top developers in China, Country Garden has delivered quality homes for two decades and has successfully developed over 100 cities globally.
Mo Bin, chief executive officer of Country Garden, said at press release that Forest City was the first of its kind in Southeast Asia – a mega-development that would be car-free zone and feature an environment where luxury green living will boast smart technologies and amenities.Forest City is surrounded by the wonders of nature and is close to centres of education, healthcare, transportation, financial centres and leisure attractions. It is billed as the city of the future, a vision borne out of 30 years of experience that was influenced by China’s rapid internationalisation pace.
“Through the unveiling of Forest City, I am proud to note that Country Garden have completed our transformation of achieving international landmark projects,” Mo said. “Rather than another pure real estate project, Forest City is a culmination of our wisdom, knowledge and experience that brings to life an eco-city of the future in its true sense. “With Forest City we are offering a perfect mix of luxury tranquillity, urban vitality and proximity in the heart of Southeast Asia.”
The first phase of the project includes condo and high-rise coastal residences, which will be released for global sales in due course in Singapore, China and Malaysia. Country Garden said the two- to four-bedroom condominiums and high-rise coastal residences were exceptionally designed and situated within leafy foliage corridors and car-free avenues with gated security. The contemporary-styled condos range from 76 square metres to 178sqm.
The company said the residences would be ideally suited for people seeking a getaway luxury lifestyle, with them boasting easy access to exceptional amenities including a world-class hotel, fitness clubs and swimming pool. Eight industries such as education, healthcare and tourism will be the main economic pillars to the city’s growth.
As part of the long-term planning for the city, Country Garden is in discussions with Malaysian local government to set up dedicated entry points to it, such as a light rail transit system and a ferry network that links to Singapore and to the planned high-speed rail between Singapore and Malaysia.
Commenting on the launch of Forest City, Othman Yusof, executive director of Country Garden Pacificview, said: “This is a historic day not only for Forest City but for Malaysia, our business partners, and, just as significantly, for the global real estate industry.
“Forest City represents an unprecedented alliance of two powerhouses in the real estate, financial and construction industries, and signals a shifting of the sands for the futuristic township development. Forest City also represents the perfect destination for work, play and life for a global generation in Iskandar.” Country Garden is ranked by Forbes as a top 30 listed company in Asia.