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Country Garden unveils RM175 billion Forest City, one of Southeast Asia's largest project

Artist impression of Phase 1 of the Forest City development. Artist impression of Phase 1 of the Forest City development.

Forest City, a lush urban getaway located on four man-made islands in Iskandar Malaysia was officially unveiled today by Country Garden Holdings Co Ltd, a Hong Kong-listed Mainland China property developer.

Sprawled over 1,386.05ha (3,425 acres), Forest City is a 66:34 joint development between Country Garden Pacificview Sdn Bhd and Johor's Esplanade Danga 88 Sdn Bhd, a Johor state-owned associate of Kumpulan Prasarana Rakyat Johor.

Forest City is Southeast 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.

It is built on four man-made, reclaimed islands just off the Iskandar Malaysia region in Johor. The sizes of the islands are (a) Island 1: 979 acres; (b) Island 2: 1,896 acres; (c) Island 3: 405 acres; and (d) Island 4: 145 acres.

With an estimated investment of RM175.8 billion (S$58.3 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. The city is planned to house up to 700,000 people.

It is expected to be declared as Malaysia's fourth duty-free zone, after the islands of Langkawi, Labuan and Tioman.

 

UPDATE: The Forest City, a mega development on four man-made islands in Iskandar Malaysia, Johor, was accorded duty-free area status on 6 March 2016.

 

It is the first artificial island granted the status in Malaysia compared to the natural islands — Labuan, Langkawi and Tioman. The granting of the status was one of four incentive packages announced by Prime Minister Datuk Seri Najib Razak, who is also the finance minister.

 

The ultimate objective of any duty-free area is to encourage trade and tourism in Malaysia.

 

According to Country Garden Holdings Co Ltd chief executive officer Mo Bin, the first duty-free shopping mall will be ready by year-end at the Fisherman’s Wharf on Island 1 of the Forest City.

 

The developer said the mall will carry a wide range of leading international brands and products.

 

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 Southeast Asia. Car-free zone, luxury green living co-exist with smart technologies and amenities.

It is ideally positioned to become a role model of livable and sustainable future city. Forest City will have four multi-layers development and the public would not see any vehicles on the road as Forest City would be filled with greenery on the top layer while underneath is for roads and parking bays use by vehicles.

The city utilizes the most advanced 3D multi-tiered urban planning concept with lush green surroundings and no vehicles traversing its surface. It is a quiet, safe and relaxing paradise. All the vehicles are docked underground, where there are ample parking spaces and well-connected routes to the individual buildings and surrounding areas.

The entire city is covered by vertical greeneries, sky gardens, and a rooftop gardening system, forming a natural barrier that saves energy, purifies the air, conserves rainwater, and reduces noise. These features generate a forest-like environment for you and your loved ones.

Forest City is a city within a garden as it is surrounded by more than 10 km of coastline, with water streams running throughout the city. You live close to nature as the four islands encircle about 130 acres of sea grass reserve. In addition to the fresh air and pristine waters, Forest City also surrounded by majestic red mangroves and beautiful wetlands.

Forest City will plan to build Malaysia’s first smart city in line with Singapore to achieve the sustainable smart city living. Its cutting-edge security system, e.g. comprehensive property management services and 24-hour security patrols, ensures your safety. Additionally, the city adopts the digital BIM technology, which enhances product quality and promotes ecological harmony.

 

The Forest City masterplan.The Forest City masterplan.

 

 

"Through the unveiling of Forest City, I'm proud to note that Country Garden have completed our transformation of achieving international landmark projects," said Country Garden Holdings CEO Mo Bin at the "Sustainable Eco-City Development Forum" and Forest City Global press conference here today.

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 Southeast Asia," Mo said.

Part of the first phase of 'Forest City' includes condominiums and high-rise coastal residences which will be released for global sales in Singapore, China and Malaysia in due course.

In a statement today, Country Garden said its sales galleries in Johor Bahru and Singapore are now open for exclusive previews and bookings in preparation for the development's official launch in the first quarter of 2016.

"The first phase of the development will comprise condominiums and high-rise coastal residences, which will be released for global sales in Singapore, China and Malaysia in due course," it said.

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.

The two- to four-bedroom condominiums range from 818 sq ft to 1,915 sq ft.

Forest City residences will also have access to amenities including a world-class hotel, fitness clubs and swimming pool.

 

Artist impression of the Transportation Hub at Forest City, which links the city to the mainland Johor.Artist impression of the Transportation Hub at Forest City, which links the city to the mainland Johor.

 

 

Meanwhile, executive director of Country Garden Pacific view 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, and signals a shifting of the sands for the futuristic township development. Forest City also represents the perfect destination for work, play and live for a global generation in Iskandar.

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 (LRT) system and a ferry network that would link it to Singapore and to the planned high-speed rail service between Singapore and Malaysia.

Forest City initial gross development value (GDV) of the entire development is estimated to be RM450 billion and is expected to create 250,000 job opportunities upon completion.

 

Forest City Sales Gallery @ Island 1

Forest City Coastal Residence

 

All images courtesy of Forest City Website.

 

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