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RM2bn in local account proves Forest City units transacted in Malaysia


The RM2 billion that has been deposited by buyers of condominiums in Forest City into its Housing Development Account (HDA) proves that the units were transacted in Malaysia, said its developer Country Garden Pacificview Sdn Bhd (CGPV).

In a report by The Malaysian Insight, the developer’s director of strategy Ng Zhu Hann said the sum in the account – which will be used by the government to take over the project should it run into problems – can only be obtained by purchasers of the project.

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