Johor Housing Department said 70% of Forest City property development in the area has been sold over the last two years and is expected to generate interest in the next 3 to 4 years.
According to Committee Chairman for Johor Local Housing Department, Datuk Mohd Jafri, the property sale will give positive economic impact to the area surrounding Forest City. He added that many people don’t realise but many of the properties in the so called Ghost Town has been sold including in another China project, Country Garden.
Both these mega development have been Johor’s Albatross in property reports with large overhangs, however things are turning around for the state as property hunters seem to be snapping bargains before price goes up when the RTS link is completed.
The projects were developed by a beleaguered China developer, Country Garden who is facing crunching financial woes at the moment.
