$100 billion Forest City is another ghost city on man-made island in Iskandar Malaysia?

Forest City is going to have a density of population greater than Manhattan, New York. The new metropolis is expected to complete by 2040 that can accommodate up to 700, 000 people. The city is coined to be the largest overseas project by a Chinese developer.

World Economic Forum reported that several experts worry it could become another ghost city. In April this year, nearly 70% of Chinese buyers have cancelled their leases in Forest City. This is one of the immediate effect on the China’s recent policy in curbing money from leaving the country.

A full report by World Economic Forum in collaboration with Business Insider is here.


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s