Post by account_disabled on Feb 20, 2024 7:12:19 GMT -5
“The newly built Forest City, comprising four artificial islands spanning 30 km2, will be a smart and eco-friendly futuristic city that combines environment, technology and cutting-edge technology to create an ideal , idyllic and technology-driven spatial ecosystem for living and work. “This is a unique opportunity to be part of this dynamism, where industries can benefit from pro-business policies and government incentives unique to Forest City.” With this cover letter, which we can read on the project website , we might think that we are facing one of the most important milestones in the real estate and business world.
Although that was the intention, nothing could be Chinese Student Phone Number List further from reality, at least that is how it is for now, since the project was announced for the first time in 2006, raising great expectations, but also bitter controversies . Some controversies that have had as protagonists the government of Malaysia, where it is located, and Country Garden Pacificview Sdn. Bhd, a company that is part of the Country Garden Holdings group, a prominent Chinese real estate company, which has recently been in the news for being in a serious crisis situation.
The project aspired to become a reference for many key industries in a context of consolidation of the ASEAN community and the Chinese Belt and Road initiative. To materialize it, the project was conceived as a set of four artificial islands, with land reclaimed from the sea, “creating an urban landscape and key elements to foster an exceptional living environment .”
With an investment of 100 million dollars, its promoters are proud to create the city model of the future and green, with low carbon emissions, with a focus on sustainability and energy efficiency with cutting-edge technology to improve all aspects of the city. urban life, offering a rewarding lifestyle, promoting the cultural diversity of its residents and preserving a rich heritage. In fact, they proudly display the award as 'Global Green Smart City' awarded in 2019 at the Global Forum on Human Settlements (GFHS) .
But the reality seems to be different. And, despite expectations, this place has been classified as a 'ghost town'. With barely 15% of its development complete, testimonies, often through social networks, affirm that a strange atmosphere emanates from this place , in which the feeling of abandonment is total. Something that can be observed, for example, on the deserted beach, in a children's playground in poor condition, in a rusty old car and in some lonely signs warning of the danger of swimming due to the possible presence of crocodiles. And at night, total darkness, punctuated by a few lights in the very few occupied homes in the high towers that began to be built in 2015 .
It is true that the project faced challenges from the beginning. Built on environmentally protected islands, the initiative generated rejection due to its impact on the natural environment. In addition, the excessively high prices - in principle, around 1 million dollars per home - for the inhabitants of nearby areas, with insufficient income to purchase one of them, and the Chinese real estate crisis also contributed to the slowdown of the project.
Added to this were the visa restrictions imposed by the Malaysian government for Chinese buyers and the impact of the COVID-19 pandemic, which negatively affected the influx of residents. All this, without forgetting the problems of the Chinese real estate market, which after years of unbridled loans by developers , caused the government, fearing a new bubble, to impose strict limits in 2021.
Although that was the intention, nothing could be Chinese Student Phone Number List further from reality, at least that is how it is for now, since the project was announced for the first time in 2006, raising great expectations, but also bitter controversies . Some controversies that have had as protagonists the government of Malaysia, where it is located, and Country Garden Pacificview Sdn. Bhd, a company that is part of the Country Garden Holdings group, a prominent Chinese real estate company, which has recently been in the news for being in a serious crisis situation.
The project aspired to become a reference for many key industries in a context of consolidation of the ASEAN community and the Chinese Belt and Road initiative. To materialize it, the project was conceived as a set of four artificial islands, with land reclaimed from the sea, “creating an urban landscape and key elements to foster an exceptional living environment .”
With an investment of 100 million dollars, its promoters are proud to create the city model of the future and green, with low carbon emissions, with a focus on sustainability and energy efficiency with cutting-edge technology to improve all aspects of the city. urban life, offering a rewarding lifestyle, promoting the cultural diversity of its residents and preserving a rich heritage. In fact, they proudly display the award as 'Global Green Smart City' awarded in 2019 at the Global Forum on Human Settlements (GFHS) .
But the reality seems to be different. And, despite expectations, this place has been classified as a 'ghost town'. With barely 15% of its development complete, testimonies, often through social networks, affirm that a strange atmosphere emanates from this place , in which the feeling of abandonment is total. Something that can be observed, for example, on the deserted beach, in a children's playground in poor condition, in a rusty old car and in some lonely signs warning of the danger of swimming due to the possible presence of crocodiles. And at night, total darkness, punctuated by a few lights in the very few occupied homes in the high towers that began to be built in 2015 .
It is true that the project faced challenges from the beginning. Built on environmentally protected islands, the initiative generated rejection due to its impact on the natural environment. In addition, the excessively high prices - in principle, around 1 million dollars per home - for the inhabitants of nearby areas, with insufficient income to purchase one of them, and the Chinese real estate crisis also contributed to the slowdown of the project.
Added to this were the visa restrictions imposed by the Malaysian government for Chinese buyers and the impact of the COVID-19 pandemic, which negatively affected the influx of residents. All this, without forgetting the problems of the Chinese real estate market, which after years of unbridled loans by developers , caused the government, fearing a new bubble, to impose strict limits in 2021.