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2016.02.26

Country Garden : Forest City boost to Iskandar region

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JOHOR-based Esplanade Danga 88 Sdn Bhd and Hong Kong- listed property developer Country Garden Holdings Co Ltd will be investing S$58.3 billion (RM177 billion) over the next 20 years to develop a 1,386ha mixed development project in Iskandar Malaysia.

The Forest City project is expected to fuel economy in the Iskandar region in Johor as well as Singapore.

"Forest City will become a global hub that attracts innovation, talents and ideation. It will become an economic driver in areas surrounding the Iskandar region," said Country Garden chief executive officer Mo Bin.

Mo said eight industries such as education, healthcare and tourism would be the main economic pillars to the growth in Forest City.

"As part of the long-term planning for Forest City, Country Garden is in discussions with the local government to set up dedicated entry points into Forest City, such as a light rail transit system and a ferry network that links to Singapore and the planned high-speed rail system between Singapore and Malaysia."

He added that the entire development revolved around a multi- layered three dimensional city planning.

It has greenery covered architecture and smart technologies to become a role model for future cities.

Forest City will have a greenery concept on the surface while traffic will run on underground level.

"That way, the carbon generated from the vehicles will not pollute the city because Forest City has adopted the best practices to minimise environmental impact through integrated solutions to achieve zero impact to the surrounding area," said Mo.

Forest City's first phase includes condominium, high-rise coastal residences, a sales gallery, commercial centre, transportation hub and villas that will be released for global sales in due course in Singapore, China and Malaysia.

Forest City is the first of its kind mega development in Southeast Asia.

It boasts of a car-free zone and luxury green living that coexists with smart technologies and amenities. It will be surrounded by nature and is of close proximity to centres of education, healthcare, transportation, financial centres, and leisure attractions.