Construction work on phase II of the massive Forest City project in Johor is slated to commence later this month, according to Country Garden Holdings Co Ltd (CGH) Chief Strategy Officer Dr Yu Runze.
In a report by The Star, he said that the second phase will involve an 800ha site about 7km away by road from the main island’s Forest City sales gallery. It will consist of luxury hotels, low-density residential blocks and three world-class 18-hole golf courses.
“The first of the golf courses, designed by Jack Nicklaus, is set to be completed at the end of this year,” he said in a statement on Monday (1 May).
Yu also revealed that several international companies have agreed to participate in the second phase of the mega project, further transforming Forest City into a smart metropolis of the future.
However, phase two’s details and its gross development value would be announced at the end of May.
Meanwhile, 132 buyers of the Kylin Apartments situated on top of the Phoenix Hotel in Forest City obtained the keys to their units on Monday after the flats were completed in one year.
One of the home owners is 41-year-old Peng Guo Qiang, who is originally from Chengdu, China, but migrated to Malaysia with his parents and family in 2016.
“My three children are studying here, and we like it in Malaysia. I purchased this unit as an investment to rent out, as there is demand for houses here,” said the project general manager.
He also pointed out that his apartment measuring 34.4 sqm (370 sq ft) represents his first real estate investment in the country.
Another buyer by the name of Liu also shared that he finalised his purchase of an apartment due to the amenities in Kylin and its proximity to a famous American boarding school and the upcoming MJ Group healthcare institution.
Sited on four artificial islands spanning 3,425 acres and with a gross development value of over RM100 billion, Forest City is touted as one of the largest mixed-use developments in Southeast Asia. It is also expected to generate RM66 billion in tax revenue over the next 20 years.
It is being jointly undertaken by Kumpulan Prasarana Rakyat Johor Sdn Bhd and Country Garden, which respectively holds a 34 percent and 66 percent stake in Forest City’s developer, Country Garden Pacificview Sdn Bhd (CGPV).
Among new properties in Johor are:
The Enclave, Pulai Springs Resort, Johor
Sunway Lenang Heights, Taman Molek, JB
Image sourced from The Star
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
For more information on new top homes, check out PropertyGuru’s New Property Launches and Project Reviews.
