In southern Malaysia, near Singapore, lies an ambitious project called Forest City. Launched on artificial islands, this project was originally envisioned as an eco-friendly metropolis capable of housing up to 700,000 people in comfortable skyscrapers surrounded by green parks and equipped with developed infrastructure, including golf courses and a water park. However, after nearly ten years of development, Forest City became known as a "ghost town," embodying unattainable dreams and hopes. What led to the failure of this promising project?
Author: Jonashtand Source: commons.wikimedia.org
Project Launch
The Chinese developer Country Garden, one of the largest builders in China, announced the implementation of the mega-project Forest City in the Malaysian state of Johor in 2014. The total cost of this ambitious project was $100 billion, and it was intended to be a model of a futuristic city on four artificial islands in the Johor Strait. It was expected to feature skyscrapers up to 35 stories high, eco-friendly technologies, "smart" infrastructure, and green spaces—all designed to create a "paradise for living."
The project received support under China's Belt and Road Initiative and targeted wealthy Chinese investors looking to purchase overseas real estate or a second home. Local residents, for whom apartment prices ranged from $170,000 to $1.14 million, were not considered the target audience. The Sultan of Johor, Ibrahim Ismail, who owned 40% of the shares through the state company Kumpulan Prasarana Rakyat Johor, became a partner of Country Garden.
The Malaysian government hoped that Forest City would transform southern Johor into an economic center comparable in importance to Shenzhen, located near Hong Kong. The official opening of the project took place on March 6, 2016, and its status as a free trade zone was expected to attract new investors. .»>
Author: Jonashtand Source: commons.wikimedia.org
Problems on the Horizon
However, high ambitions soon collided with reality. The project was unprepared for changes in the political and economic landscape. Construction of Forest City took place on drained coastal swamps, causing significant environmental damage. The destruction of seagrass beds and mangrove forests, protected by international conventions, led to a decline in fish stocks, severely impacting local fishermen. The rush to build on unstable ground caused cracks in buildings and deformation of roads. Politicians and local residents began to express dissatisfaction, accusing the project of being foreign-oriented while ignoring the needs of Malaysians. In 2018, Prime Minister Mahathir Mohamad imposed a temporary ban on foreign property purchases, further deterring potential investors. This negatively affected sales, as 98% of properties were purchased by foreigners, primarily from China. .»>
Author: sukri-samsudin Source: commons.wikimedia.org Additional measures by the Chinese government also negatively impacted the project. Restrictions on capital outflows (up to $50,000 per year) made it nearly impossible for Chinese citizens to purchase overseas real estate. Political instability and the COVID-19 pandemic, which limited international travel, exacerbated the situation. By 2020, sales volume had decreased by 90%, and out of the planned 700,000 residents, only about 500 lived in Forest City.
As of 2024, only 15% of the project had been completed, and the population was around 9,000 people, including service staff. High-rise buildings remained half-empty, shopping malls were abandoned, and warnings about crocodiles appeared on the beaches. Locals describe Forest City as a "creepy" place with dark corridors, a lack of neighbors, and poorly developed living conditions. .»>
Author: Chongkian Source: commons.wikimedia.org
Attempts to Revive the Project
Despite financial difficulties, Country Garden remains hopeful for the project's revival. In new efforts to revitalize Forest City, the developer has focused on developing tourism by organizing golf tournaments, triathlons, and various festivals. However, visitors staying at the golf resort or beaches complain about the lack of activities and do not spend money, leaving the city "eerily quiet." In 2023, Forest City even became a filming location for the Netflix reality show "The Mole."
In 2024, Malaysian authorities took new steps by declaring Forest City part of a special financial zone (SFZ) under an agreement with Singapore to create the Johor-Singapore economic zone. Tax incentives were introduced: 15% for qualified workers, zero rate for family offices, and 0-5% for corporate taxes. More than 30 investors expressed interest in establishing family offices, shifting the focus from residential real estate to commercial investments, positioning Forest City as an alternative to the overcrowded Singapore market. .»>
Author: YankeeHo Source: commons.wikimedia.org Today, Forest City serves as an example of the clash between ambitious plans and harsh reality. The focus on a narrow circle of buyers, neglect of local conditions, political risks, and a lack of environmental awareness have turned the project into a symbol of unfulfilled dreams. Nevertheless, attempts to transform it into a financial hub offer hope for partial revival. Time will tell, but the lessons learned from this story serve as a warning for future megaprojects around the world.
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