Forest City Johor: Why Malaysia’s Most AMBITIOUS Megaproject FAILED

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Just when you thought there could be no bigger disappointment than a Prime Minister (Najib Razak) stealing from his own people, then comes along Forest City - Malaysia’s BIGGEST failure since the 1MDB corruption scandal. Forest City has now been branded as one of the most useless megaprojects in the world. Forest City is Malaysia’s $100 billion dollar megaproject failure that is known by Johor Bahru locals as a ghost town. Malaysia had high expectations for Forest City, especially considering its strategic location and early promising sales from Chinese buyers. It is nestled in Johor Bahru, just north of its tiny but wealthy neighbor, Singapore. But many factors including political and ecological challenges have caused the downfall of the Malaysian megaproject, which now bears the tarnished reputation of “Forest City Malaysia Ghost Town.”
Thanks For Watching: Forest City Johor: Why Malaysia’s Most AMBITIOUS Megaproject FAILED
Chapters:
0:00 Malaysia’s $100 Billion Dollar Failure
0:41 Forest City Background
1:35 Problem 1: Political Challenges
5:20 Problem 2: Ecological Disaster
7:37 Problem 3: Foreigners Can’t Have It, Locals Can’t Afford It
9:00 Embracing Connectivity
#megaprojects #construction #architecture
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Footage and images courtesy of:
WALL STREET JOURNAL, BBC NEWS, MALAYSIA NOW, TODAY ONLINE, FREE MALAYSIA TODAY, BLOOMBERG, THE NEW YORK TIMES, SOUTH CHINA MORNING POST, FMT NEWS, CNA, GOOGLE EARTH, FOREST CITY COUNTRY GARDEN PACIFICVIEW, EAST ASIA FORUM, MALAYSIAN INSTITUTE OF ECONOMIC RESEARCH, THE STAR, MCA TV, AL JAZEERA ENGLISH, BLOOMBERG ORIGINALS, COUNTRY GARDEN FOREST CITY, CNN, MALAYSIA NOW, INSIDER, NBC NEWS, ABC NEWS (AUSTRALIA), BLOOMBERG TELEVISION, BLOOMBERG NEWS, MALAYSIA MY SECOND HOME, MALAY MAIL, JOSEPH MARCEL R. WILLIAMS/MIT, MONGABAY, CCTV NEWS, CGTN, VICE NEWS, THE STRAIT TIMES, CNA INSIDER, SCOOBY-DOO

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Опубликовано:

11 июл 2024

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Комментарии : 122

@Testforexcellence13579 11 месяцев назад

The parent company in China almost bankrupt now… good luck for those bought these condos… My condolences

@llothar68 9 месяцев назад

Lucky are the ones who have their appartment already build. But knowing it was a chinese project. We can assume that a lot of buildings are sold out already but nobody living there because it was just speculation. So nobody got hurt who does not deserve it.

@MM-te8tz Год назад

Condo apartments in the development retail for as much as 5 million Malaysia ringgit ($1.14 million). No wonder the place is empty.

@lelongbashi 11 месяцев назад

Which is why our locals cannot afford it.

@BrotherBluez 10 месяцев назад

As a Malaysian im really don't like this project...😡

@isaacmichael5340 6 месяцев назад

Because its made in China nobody's trust 😅😅😅😅

@AlbertMakambi 2 месяца назад

But do governments really take in the views of their people and analyze the implications before embarking in such endeavors? I'm sure your sentiments are shared by many of your people.

@kongthai.. 27 дней назад

The $500 billion Singapore suburb Megacity will take some time to complete. That Forest City appears to be 20% of the whole SHEBANG. YOU just have to wait LOR. 🤣❤️🤞

@JhCe Год назад

just visited there today. it is still a ghost town. although there are many bumiputra families just brought their kids there to enjoy the free beach and water park. the price of the condo/apartment is ridiculous. indeed, it is impossible to be affordable by local bolehland ppl. and the whole island does not look that luxurious to match the selling price of the condo/apartment.

@byteme9718 10 месяцев назад

The whole point of the project was to keep the poor locals out. 😂

@alphacentauri6360 5 месяцев назад

Reality hurts 😂

@angeluscorpius 7 месяцев назад

700,000 residents? No. the project will develop 700,000 units. To be bought by Chinese citizens for investment. But the owners don't intend to live there. Because, where would they work? Are there any offices or businesses in the area? 700,000 units with an average occupancy of 2.1 persons per unit, will mean about 1.5 million residents. Which is more than the entire population of Johor Bahru. Forest City wants to be Shenzhen to Singapore's Hong Kong? Shenzhen has factories, and businesses supporting or in some cases competing with HK. What businesses or factories does Forest City have? Or in the nearby area (Iskandar region) that warrants 700,000 new homes priced exorbitantly? No. Forest City was a scam for Country Gardens to profit from gullible Chinese buyers, and when China shut down (or choke off) Chinese overseas investment, and Malaysia closed off immigration or MM2H programme to Chinese Forest City Home owners, the project became less attractive. More so, when Country Garden ran into financial problems, as China tried to deflate the property bubble.

@winc86 6 месяцев назад

Those comparison between HK/Shenzhen and SG/JB are nonsense. HK/Shenzhen are in one country China, SG/JB are in two independent countries.

@user-nl9kg8cl6m 3 месяца назад

The building look worst and worst infrastructure in forest city

@jasonlucas2328 11 месяцев назад

From Singapore's perspective, the success of forest city has no advantage to them. It'll attract more foreign companies to set up offices in forest city instead of Singapore. The same thing is true for the high-speed railway from Singapore to Thailand. Who'll fly the expensive Singaporean Airlines if people can fly to cheaper Malaysia Airport and get to Singapore by high-speed rail?

@OCharluvsmusic 11 месяцев назад

Well, that was a bust for them. Too bad they can't make this into affordable housing. Now I am curious if the Saudis Desert City they are building will thrive.

@lelongbashi 11 месяцев назад

Because Saudis country have more money than Malaysia. Currently in Indonesia, they do have Chinese bullet train but they are struggling to buy it. And also struggling to train them how to drive Chinese bullet train.

@TheBenny2004 7 месяцев назад

700,000 people living in cages, I would never accept to live there even if I can afford it

@wshyangify 10 месяцев назад

Tofu Dreg project

@ryanseidphysique 2 месяца назад

Forest city ❎ Ghost city ✅

@MultiWorld2000 Год назад

Actually Malaysian not really bother about this project , because this project has been developed and financed by Country Garden , China richest developer !!

@thinkcat01 11 месяцев назад

Financed by China, but have to pay back.

@akeshshi9137 11 месяцев назад

Country garden going bankrupt in china. One of their projects collapsing in tianjian doesnt help either

@MultiWorld2000 11 месяцев назад

@@thinkcat01 who is going to pay back??

@MultiWorld2000 11 месяцев назад

This is not government project !!

@thinkcat01 11 месяцев назад

@@MultiWorld2000 For the High speed train, Malaysia has to pay for cancellation.

@SaltedBadly 23 дня назад

Thanks to Najib la

@cac1504 2 часа назад

China's Country Garden has a 60% stake in the Forest City estate, while the remaining 40% of the estate is owned by Sultan Ibrahim, the king of Malaysia.

@Sodainspace 2 месяца назад

Despite the developer bankrupt, and being a ghost town, faulty construction and sinking reclaimed land, the prices are very high even today not sure what's going on

@TalesofNaturesEnchantment 9 месяцев назад

The main reason they did not pay the subcontractors most of subcontractor bank rapt here . they give little money to Sub -contractors and forced Immigration to rule the workers.

@syedputra5955 Год назад

They need a ferry from forest city to tuas CIQ in singapore. Once cleared immigration, its a short bus ride/ walk to Tuas SMRT to singapore cbd.

@mingwu1133 11 месяцев назад

Its a good idea, but the politicians won't do it.

@Slla-th5vt 4 месяца назад

Tuas to CBD is another 1 hr journey at least

@derekyak6384 11 месяцев назад

Ist If, the transport from the second link from Singapore to forest city can be solved either! Example building an mrt from Johor Bahru lst link to towards 2nd link Johor Bahru to forest city or building from sea fairies towards Singapore & forest city or a flying drone from Singapore, towards Johor Bahru forest city & important is the economics business in forest city than this projects may be still have a chance toward success!

@DrChanIMH 10 месяцев назад

I will wait at least 10 years for the reclaimed land to settle

@winc86 6 месяцев назад

HSR station at Forest city will be an instant success. Maybe include a mini-airport also.

@fakhrudinyasok1399 6 месяцев назад

What do you mean BOLEHLAH LAND PEOPLE?

@lingth 9 месяцев назад

The money went to the 9 missing navy frigates.. lol 😂

@BENZ007 10 месяцев назад

A few years ago they pulled most of the A380 jumbo airplanes out of service as too big....mothballed them . Flashforward 3 years they are all back in service. Things change fast, this looks like a beautiful spot , and with new politics and a change in the economy , it will likely be booming full steam ahead in a few years. Best wishes to all , great story. Thx.

@byteme9718 2 месяца назад

😂It's a huge white elephant that will never succeed. At some point in the near future the developers will stop maintaining any part of the development at which point the forest will take over. It's failed and those who backed this deserve to lose all of their money.

@ae101rulez Год назад

Alot of missing points... Where is the point stating lack of amenities? Don't just focus inside that forest city island..access to johor Bahru city is not a stone throw away but you need to drive thru second link and exit to JB. You expect most 15k-50k sgd salary ex-Malaysian (Singapore PRs) to dump money to revive that project?

@DrChanIMH 10 месяцев назад

It's a sinking city. Already got bridge collapsed

@formattester6 10 месяцев назад

geez please give the music soundtrack on this a break. whats the point of this other than to add gravitas to this video doc. it doesn't work as it becomes unbearable to watch.

@avrinrose5457 10 месяцев назад

In my fictional world, this project are successful

@trixwall6389 6 месяцев назад

The project has ourpriced the locals, it is doomed. Moreover average Malaysians prefer landed lifestyle and not condos.

@haiy3664 2 месяца назад

We love tun dr sri Mahathir

@limtc1733 6 месяцев назад

So, Anwar now still a pretty stable PM. Another few years a new PM appears and decides to be enemious with Singapore. Then how? Money trapped there. Law and policy suka suka change. As a Singaporean, I will not put money there.

@jamalyusak7666 5 месяцев назад

This is the work of Mahathir.

@luxurylocale Год назад

Will this Malaysian Ghost Town ever boom once again?

@lelongbashi 11 месяцев назад

@DrChanIMH 10 месяцев назад

This is not just a ghost town. Bridge has collapsed and the buildings has cracks. This is a warning sign. Suggest you seek civil engineer advice before you consider

@Richard.Cabeza 7 месяцев назад

No. It's unsustainable.

@winc86 6 месяцев назад

Who cares.

@jonidjoharijonidjohari5385 11 месяцев назад

Forest city untuk penduduk Singapore nanti mrt akan dibuat dari forest city ke Singapore

@winc86 6 месяцев назад

Tunggu lama lama

@kongthai.. Месяц назад

9000 residents in a 28,000 apartments ($7 billion invested so far). 70% sold, maintenance fees paid. TINY PROJECT Add the RTS-LRT, British International School, EU theme parks. Then a Pengerang-Shell station possible tie up. A Tanjung Pelepas-Warehouse in competition with PSA, Port Klang & Penang port. 12 million TEU just next to Forest City. THERE is also DANGA BAY, which is also pretty quiet. Many units are bought by Singaporean. Also cost $1.0 million apartments. $500 billion. (If fully successful) Up North, there is bigger fish to fry. About $1.0 trillion gdv. There is massive DATA CENTRE & AUTONOMOUS VEHICLES, ROBOTS. Now AI GPU design city as well, a BeV, Icev city. Really, why so much complain about a SANCTUARY CITY. THERE is also DANGA BAY, and KLCC,(targeted at Hong Kong & Macao, Japanese, British, Korean residents) SILICON ISLAND. Pretty quiet too. But people PAID for these luxurious property. Just wealthy middle class citizens in Red China & Pacific rim.

@kongthai.. Месяц назад

Malaysian households prefer to buy landed properties, mostly 1,800 sq. ft. in Kinta, Klang & Johor Baru. Price is $800,000 to $1,600,000. Yes this 1.0 million household holding a wealth base of approximately $6 trillion onshore, and US$ offshore in IFC. They also own 1.5 million investment properties. It is not so bad if we understand the economics of it all. Yes, we have incompetent politicians, vested interest of the factions in the country with their external networks. (The Straits of Malacca is very strategic in the wealthiest part of the globe). So that explains the GREAT INTEREST. Stay calm. Not all projects are successful. 😂

@kongthai.. Месяц назад

By the way. This is an ongoing project with the entirety not completed yet, delayed by covid 18. US Feds credit squeeze. And IT IS NOT A belt & road initiative. Just Red China narratives only. 😂

@byteme9718 27 дней назад

@@kongthai.. Stop with the lies. The truth is obvious.

@kongthai.. 27 дней назад

@byteme9718 what is the truth, what do you mean 🥺

@sirloin869 3 месяца назад

good, bad; bad, good...

@jonidjoharijonidjohari5385 11 месяцев назад

Sebab Singapore terlampau mahal untuk beli rmh

@hendrywijaya170866 6 дней назад

Tapi tidak ada juga orang yg mau beli di forest city

@hseochin 2 месяца назад

Too early to say it failed or otherwise. As it's too far ahead of it's time i.e. the demand is not there yet as much of the surrounding infrastructure have not been developed ?! They even planning of another artificial island to left of Tuas 2nd Link, as their sales staff informed me just few days ago (Apr 2024) upon my visit to their fairly impressive sales showroom.

@michalblaskovic293 4 месяца назад

forest city need zero income tax

@OreoBili-fs4bz 4 месяца назад

delicious food they take from Indonesian food and other countries

@yongchenseng4739 9 месяцев назад

😂 Singapore say no 😅👎

@Azwad 10 месяцев назад

It still can be viable only with good policies

@basarbjeebasar4245 11 месяцев назад

The comunist town in malaysia the buyer from Singapore China.

@andirustam7885 Год назад

China Mini City

@andirustam7885 Год назад

Malaysia For Sale

@edifier107 6 месяцев назад

The future of Indonesia's new capital city Ibu Kota Nusantara (IKN). I can't wait to watch documentaries on IKN which will be one of the biggest mega project failures in human history

@alphacentauri6360 5 месяцев назад

Hahahahahahahahahaha hahahahahahahaha i cant with u

@cac1504 8 месяцев назад

Too expensive for locals.

@alphacentauri6360 5 месяцев назад

Too expensive in general!!

@onelove6971 3 месяца назад

It’s a great project. Malaysia just needs to come up with innovative solutions to overcome the challenges

@saifulanuar1 Год назад

It's not a ghost town it's beginning to awaken because Malaysian, Singapore and Indonesian investors is buying and renting the place

@byteme9718 11 месяцев назад

Hahahaha

@lelongbashi 11 месяцев назад

Lol

@tranthao4048 11 месяцев назад

I HOPE SO LOL :)))

@DrChanIMH 10 месяцев назад

😂

@Stephen_Jabs 10 месяцев назад

Ok give me proof and I will believe you

@mariusandreas5026 Год назад

They need to lower the price of the apartments and resolve commute problems. The Line is the best project for the future in rest are some expensive buildings build in the same manner from hundreds of years without any improvement or concept about the way of humans live.

@DrChanIMH 10 месяцев назад

The sand is still settling. Bridge collapsed more to come😊

@byteme9718 10 месяцев назад

If you gave them away to locals they still couldn't afford the massive maintenance charges.

@kwokmichael4895 6 месяцев назад

Technically not a ghost town as more and more people bought it.but a project should be on city tht fully develope rather thn under develope like in johor. A developement should be in phases but one off finish it(15 percent develope).tht y seing oversupply of property in johor bahru. The news look in correct as not ghost town any more,but lack of maintainance.More and more people buying it in year 2022-2023.compare year 2020-2021(the covid years). In conclusion,buy low price in property,sell high in 20-30years.Can people expect after 2 covid years 2020-2021,after tht can sell all in example 3 years time.Take 10 years sell all,look ok.

@fakhrudinyasok1399 6 месяцев назад

DO YOU THINK ALL SINGAPOREAN PROJECT ARE GOOD AND SUCCESS?

@winc86 6 месяцев назад

Singapore does not have ghost city.

@hseochin 2 месяца назад

Singapore has hardly any land left for it, that basically why ?! That being said, those who are sharp eye..simply visit Singapore Orchard Road (supposed to be the city centre where all the 'life' is etc.) to discover actually how many vacant long time abandoned shop lots in well known buildings like Orchard Plaza e.g. ?!! Not an impressive sight to see so many under-utilised properties in such a high profile area alone ?!

@luxurylocale 10 месяцев назад

MORE TO CHECK OUT: How To BURN $128BN: California’s NIGHTMARE Train From Hell 👉ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-h2Hk_qkQPDY.html

@fakhrudinyasok1399 6 месяцев назад

SINGAPOREAN ARE LIKE ISRAEL!

@winc86 6 месяцев назад

Hello hahaha