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.