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1. Johor’s Forest City has been ranked second out of 5 Most Useless Megaprojects in the World, according to YouTube channel Top Luxury.
— BFM News (@NewsBFM) November 18, 2021
“Forest City was probably too ambitious to begin with, too futuristic to truly achieve and too politically challenged to succeed anytime soon.” pic.twitter.com/EZxaLzd0lb
3. The video also claims that the project is being funded mainly through China.
— BFM News (@NewsBFM) November 18, 2021
“Wealthy Chinese investors who couldn’t afford the soaring prices of apartments in their own country rushed to Forest City.
“By 2019, 80% of the property owners were Chinese.”
5. The video also points out that in 2018, then prime minister Mahathir Mohamad had banned foreigners from owning property in the Forest City.
— BFM News (@NewsBFM) November 18, 2021
This had led to many foreigners leaving the city and discouraged new investors, according to the video.https://t.co/rXxSB7BXR0
7. The SCMP report also claimed that the Forest City’s master developer, Country Garden Holdings, had laid off over 1,000 Malaysian workers in the past year.
— BFM News (@NewsBFM) November 18, 2021
The Top Luxury video believes that this signalled “the epic downturn in the project’s fortunes.”
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Malaysia’s controversial Forest City has been labelled as the second most useless megaproject in the world.
— TheVibes.com (@thevibesnews) November 17, 2021
“Forest City was probably too ambitious to begin with, too futuristic to truly achieve, and is too politically challenged to succeed anytime soon."https://t.co/VEQqdZIZce
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