With the varied industries flocking to the project, Country Garden Pacificview Sdn Bhd (CGPV) expects Forest City to create up to 220,000 jobs for Malaysians and to contribute RM66 billion in tax revenue in 20 years, reported Bernama.
“Forest City is gaining momentum due to its local, regional and global positioning,” it said in a statement that was issued in conjunction with the opening of Forest City Phoenix Hotel as well as the signing of strategic initiatives with 36 partners.
The company also expects the mammoth project to contribute RM1.98 trillion to the country’s gross domestic product.
“Total cumulative investment of US$100 billion will attract returns of sufficient proportion.”
Nestled on four artificial islands, Forest City has witnessed rapid development since its launch in March, which included the 5.8km road that connected the Tanjung Pelepas Port (PTP) highway to the island and a commercial street adjoining Phoenix Hotel.
To be developed by CGPV, Phoenix Hotel will be located on 1.71 ha site and will be managed by Country Garden Hotel Group.
Facilities to be offered include a multi-purpose banquet hall that can house up to 500 people, a selection of dining options and elegant meeting rooms. Accommodations will start from RM539++ per room per night.
“With more than 50 hotels chains in China, the conglomerate is working continuously to expand its expertise by working closely with the world’s leading hotel chains such as Hilton, and intends to bring its vast experience in the hospitality industry to the Iskandar region,” said the company.
On the strategic initiatives, CGPV revealed that it will help make Forest City into an economic hub that would complement Iskandar Malaysia.
It noted that the synergetic partners are reputable organisations from various industries including education and training, tourism, medical and healthcare, financial service, emerging technologies and manufacturing.
In fact, some of them such as Cisco, Huawei, Midea, Accenture, Deutsche Bank (Asia Pacific), Bank of China Malaysia and China Construction Steel Structure Corporation, are listed under Fortune 500.
“The total market value of these organisations sum up to US$1 trillion,” it said.
Image sourced from archdaily
Diane Foo Eu Lynn, Senior Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories email email@example.com