SINGAPORE: "Forest City", a lush urban getaway on four man-made islands in Iskandar Malaysia was formally unveiled on Friday by Country Garden Holdings Co Ltd, a Hong Kong-listed property developer.
Sprawled over 1,386.05ha, Forest City is a joint development with Johor's Esplanade Danga 88 Sdn Bhd.
Forest City is South-East Asia's first and largest mixed-use green development in terms of the number of units to be built with a vertical greenery and smart city design theme.
With an estimated investment of S$58.3 billion (RM175.8 billion) over the next 20 years, Forest City is expected to fuel the economic development of Iskandar region, the main southern development corridor in Johor and neighbouring Singapore.
Eight industries including education, healthcare and tourism will be the main economic pillars of growth at Forest City.
Forest City is the first of its kind mega development in South-East Asia.
Car-free zone, luxury green living co-exist with smart technologies and amenities.
"Through the unveiling of Forest City, I'm proud to note that Country Garden have completed our transformation of achieving international landmark projects," said chief executive officer Mo Bin at the "Sustainable Eco-City Development Forum" and Forest City Global press conference in Singapore on Friday.
Forest City is Country Garden's largest real estate project outside of China, part of the group's internationalisation strategy to establish a larger overseas presence.
Recognised by the Guangdong provincial government as one of the top developers in China, the group has delivered quality homes for two decades and has developed over 100 cities in China.
"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 tranquility, urban vitality and proximity in the heart of South-East Asia," Mo said.
Part of the first phase of Forest City includes condominiums and high-rise coastal residences which would open for global sale soon in Singapore, China and Malaysia.
The two to four-bedroom condominiums and high-rise coastal residences are exceptionally designed and are situated within leafy foliage corridors and car-free avenues with gated security.
Meanwhile, executive director of Country Garden Pacificview Datuk Md Othman Yusof 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.
As part of the long-term planning for Forest City, Country Garden is in discussions with the Malaysian Government to set up dedicated entry points such as a light rail transit system and a ferry network that would link it to Singapore and to the planned high-speed rail service between Singapore and Malaysia. - Bernama
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