Forest City Mega Development Project Progresses Amidst Global Challenges

  • 10 months ago
  • News
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Forest City, the ambitious mega mixed development project spanning four reclaimed islands in Johor waters, is making steady progress despite the challenges posed by the global real estate market amid the Covid-19 pandemic. Covering a vast area of 2,832.79 ha (7,000 acres) over four islands near Tanjung Pelepas Port, the development is committed to sustainable growth in the region.

In a statement, Forest City’s regional deputy president, Syarul Izam Sarifudin, emphasized the company’s dedication to the original master plan, especially for the first ten years from 2015 to 2025. The first phase (2015-2020) focused on completing residences, infrastructure, and business spaces to accommodate the existing community. The second phase (2020-2025) aims to explore investment opportunities in trade, finance, and high-tech industrial hubs.

Despite the Covid-19 pandemic and the impact of the global economic slowdown, Forest City remains steadfast in its commitment to the original plan. The development has been promoted actively in various countries, including Hong Kong, South Korea, Taiwan, Vietnam, the Philippines, and Indonesia. To attract buyers, the company has appointed 100 international real estate agents. Additionally, local traders interested in renting shop units in Forest City are welcome, given the area’s proximity to various industrial sectors.

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Since its inception in 2015, the Forest City project has made significant strides, completing 28,000 residential units over seven years. The main focus has been on developing the first reclaimed island, covering 566.55ha (1,400 acres). So far, approximately 283 ha (700 acres), or 15% of the total area, has been developed.

The project has achieved notable milestones, including the establishment of two hotels, two international standard golf courses, the largest industrial building system (IBS) prefabricated factory in Malaysia, and the renowned Shattuck St Mary Forest City International School, offering an American curriculum. Additionally, a water theme park adds to the project’s allure.

Despite the prevailing challenges, Forest City’s commitment to its long-term sustainable development plan remains unwavering. The company is prepared to review and re-evaluate development plans after 2025, should the need arise, to ensure the continued success and growth of the project.

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