$40billion futuristic "Forest City"

[rev]

China-based developer launches $40bn cross-border project it claims is a ‘model’ of future housing
January 27, 2016 2:19pm
Aidan DevineNews Corp Australia Network
Forest City is a $40bn Chinese development project underway to create a “futuristic” city for 500,000 people.

‘IF YOU build it they will come.’

This is the thinking guiding one of China’s most ambitious projects — a plan to build a “smart” city for 500,000 people, from scratch, on four man-made islands in South-East Asia.
Forest City will consist of four man-made islands in the strait separating Singapore and Malaysia.

The $40 billion project is the vision of Yeung Kwok Keung, chairman of private Chinese development company Country Garden, who wanted to build a city of skyscrapers atop three subterranean levels of roads and parking.

“The public would not see any vehicles on the road as [the] city would be filled with greenery on the top layer while underneath is for roads and parking,” Mr Yeung said.

But the project, dubbed “Forest City”, is not short of controversy. It is being built in the Strait of Johor, between Singapore and Malaysia — a region where vast amounts of housing are rapidly hitting the local market — and critics say there is no demand for a project of this size.

Country Garden have countered these claims by pointing out that their aim is to attract buyers from all around the world, who will be drawn to the opportunity to live in a futuristic city of 300,000 homes, the likes of which has never been seen before.

Forest City will include sky gardens, its own duty free zone, man-made lakes and beaches, commercial buildings, schools, medical facilities and even its own water supply.

“Our philosophy is that we will create the market and the customers will arrive,” Mr Yeung said.

At the development’s Singapore launch, Country Garden CEO Mo Bin added that the company sees Forest City as a model for cities of the future — one they hope to spread around the world.
The city will have no cars on ground level.
Apartment buildings will be covered in vertical greenery.

He said Country Garden’s successes in China have given it a considerable pool of capital to use as a platform for entering housing markets around the world — including Australia, where the company is already active.

Forest City will be completed in 2035.

http://www.heraldsun.com.au/realestate/ ... y-comments

[rev]

[MelBrandle]

Sounds like a very interesting project in the pipeline with a lot of potential - I mean the materials they need to bring in and have in storage to build these islands from scratch and to be sustainable to boot...? But I'm hearing a lot of backlash about the project because of how it encroaches on the borders of the 2 countries here. I wonder whether there'll be a big dispute as to how and to whom these islands are going to belong to.