SINGAPORE--(BUSINESS WIRE)--A joint venture between Hong Kong-listed property developer Country Garden Holdings Co Ltd [“the Group”] and Johor’s Esplanade Danga 88 Sdn Bhd today announced the unveiling of ‘Forest City’, a lush urban getaway located on four man-made islands in Iskandar Malaysia.
‘Forest City’ is Southeast Asia’s firsts and largest mixed-use green development in terms of the number of units to be built with a vertical greenery and smart city design theme. Spanning over 1,386.05 hectares on four man-made islands with an estimated investment of S$58.3 billion over the next 20 years, ‘Forest City’ is expected to fuel the economy in Iskandar region and neighbouring Singapore.
The entire development of ‘Forest City’ revolves around a multi-layered three dimensional city planning, with lush vertical greenery covered with dense foliage and multiple forms of public transportation operating at high efficiency, sustainable and renewable energy infrastructures. With the use of futuristic green design and smart technologies, ‘Forest City’ is set to become a role model of future cities. ‘Forest City’ has adopted best practices to minimise environmental impact through integrated solutions to achieve zero impact to the surrounding area.
To date, ‘Forest City’ is Country Garden’s largest real estate project outside of China, part of the Group’s internationalisation strategy to establish a larger overseas presence. Elsewhere, the Group has completed residential projects in Australia and Malaysia and eyeing to launch real estate projects in Indonesia and Vietnam in the near future. Recognised by the Guangdong provincial government as one of the top developers in China, the Group has delivered quality homes for two decades and has successfully developed over 100 cities globally.
Mr Mo Bin [莫斌], Chief Executive Officer of Country Garden Holdings, said: “‘Forest City’ is the first of its kind mega development in Southeast Asia— car-free zone, luxury green living coexists with smart technologies and amenities. ‘Forest City’ is surrounded by the wonders of nature and is of close proximity to centres of education, healthcare, transportation, financial centres, and leisure attractions. ‘Forest City’ is a city for the future, a vision and longing that was born out of 30 years of experience influenced by China’s pace of internationalisation.”
“Through the unveiling of ‘Forest City’, I am proud to note that Country Garden have completed our transformation of achieving international landmark projects. Rather than another pure real estate project, ‘Forest City’ is a culmination of our wisdom, knowledge and experience that brings to life an eco-city of the future in its true sense. With ‘Forest City’, we are offering a perfect mix of luxury tranquillity, urban vitality and proximity in the heart of Southeast Asia.”
Part of the first phase of ‘Forest City’ includes condo and high-rise coastal residences, will be released for global sales in due course in Singapore, China and Malaysia. The two to four bedroom condominiums and high-rise coastal residences are exceptionally designed and are situated within leafy foliage corridors and car-free avenues with gated security. The contemporary-styled two to four-bedroom condominium ranges from approximately 818 sq ft to 1,915 sq ft.
Ideally suited for those who are seeking a ‘get-away’ luxury lifestyle from the bustle of modern life, ‘Forest City’ residences will have effortless access to exceptional amenities including a world-class hotel, fitness clubs, and swimming pool.
Eight industries such as education, healthcare and tourism will be the main economic pillars to the growth at ‘Forest City’. As part of the long-term planning for ‘Forest City’, Country Garden is in discussions with Malaysian local government to set up dedicated entry points to ‘Forest City’ such as a light rail transit system and a ferry network that links to Singapore and to the planned high-speed rail between Singapore and Malaysia.
Commenting on the launch of ‘Forest City’ Datuk Md. Othman Haji Yusof, Executive Director of Country Garden Pacificview, said: “This is a historic day not only for ‘Forest City’, but for Malaysia, our business partners, and, just as significantly, for the global real estate industry. ‘Forest City’ represents an unprecedented alliance of two powerhouses in the real estate, financial and construction industries, and signals a shifting of the sands for the futuristic township development. ‘Forest City’ also represents the perfect destination for work, play and live for a global generation in Iskandar.”
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About Country Garden Holdings Limited
Country Garden is one of China’s leading integrated property developers. It has standardised operations with business comprising property development construction, installation, fitting, property management, property investment, as well as hotel development and management. In addition, Country Garden has been named by the People’s Republic of China State Administration for Industry and Commerce as “China’s Well-Known Trademarks” in the property sector in 2006. The Group has over 20 years of experience in building large-scale townships and currently has more than 300 projects globally. Country Garden townships are known for high-quality construction, outstanding design, and state-of-the-art landscaping and five-star lifestyle facilities. Today, Country Garden is a top 10 real estate developer in China and is Forbes Top 30 listed companies in Asia.
About Forest City
The Forest City is a 14km2 mixed-use development located at Iskandar Malaysia. Adjacent to the Malaysia–Singapore Second Link, it is a joint venture development between Country Garden and Malaysian partner Esplanade Danga 88. With a committed investment of approximately RM170 billion, it is composed of four reclaimed islands with the twin themes of ‘integrating businesses and the city’ as well as ‘urban innovation’. The project aims to generate economic growth through eight key industries – tourism and meetings, incentives, conferences and exhibitions, healthcare, education and training, regional headquarters, near-shore finance, e-commerce service base in ASEAN, application of emerging technique and service centre, and sectors related to a green and smart city.