In a Malaysian Pop-Up City, Echoes of China’s Housing Crash

Published On Oct 22, 2024, 12:01 AM

The article discusses the Forest City project in Malaysia, which was originally conceived as a large-scale luxury development by a Chinese developer, Country Garden, with an investment of $100 billion. However, the project has largely failed to meet its ambitious goals, with most apartments remaining unoccupied and various developed areas left abandoned. The location is currently home only to caretakers and a few transient residents, indicating that the project has not attracted the expected influx of wealthy Chinese buyers. The property market in the area is struggling, and the future of additional development remains uncertain, hinging on actual demand.