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2016.01.30

Country Garden's S$58.3b Forest City now open for previews, bookings

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KUALALUMPUR (Jan 22): Hong Kong-listed Country Garden Holdings Co Ltd and EsplanadeDanga 88 SdnBhd, a Johor state-owned associate of Kumpulan PrasaranaRakyat Johor, today unveiled the much-touted Forest City mixed-use developmentlocated on four reclaimed islands in Iskandar Malaysia, Johor.

Spanningover 1,386.05ha with an estimated investment of S$58.3 billion over the next 20years, Forest City is expected to fuel the economy in the Iskandar region andneighbouring Singapore.

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

"Thefirst phase of the development will comprise condominiums and high-rise coastalresidences, which will be released for global sales in Singapore, China andMalaysia in due course," it said.

"Thetwo- to four-bedroom condominiums range from 818 sqft to 1,915 sqft," itadded.

ForestCity residences will also have access to amenities including a world-classhotel, fitness clubs and swimming pool.

CountryGarden said eight industries, such as education, healthcare and tourism, willbe the main economic pillars to the growth at Forest City.

"Aspart of the long-term planning for Forest City, Country Garden is indiscussions with the Johor state government to set up dedicated entry points toForest City such as a light rail transit system and a ferry network that linksto Singapore and to the planned high-speed rail between Singapore andMalaysia," it added.

"WithForest City, we are offering a perfect mix of luxury tranquillity, urbanvitality and proximity in the heart of Southeast Asia," said CountryGarden chief executive officer Mo Bin.

"Thisis a historic day not only for Forest City, but for Malaysia, our businesspartners, and, just as significantly, for the global real estateindustry," said Country Garden PacificviewSdnBhd executivedirector Othman Yusof.

"ForestCity represents an unprecedented alliance of two powerhouses in the realestate, financial and construction industries, and signals a shifting of thesands for the futuristic township development. Forest City also represents theperfect destination for work, play and live for a global generation inIskandar," he added.