Country Garden @ Danga Bay ---> 50 acres of Land
Forest City (Reclaimed Island) --> Around 1000 acres of Land
Country Garden, KPRJ plan massive reclamation development for luxury homes
PETALING JAYA: China’s Country Garden Holdings Co Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) have drawn out plans for a massive reclamation project to build luxury homes near Pendas in southern Johor near Singapore, according to sources.
Sources said that the project could entail a land area of “a few thousand acres,” which would make it one of Iskandar Malaysia’s single largest projects.
It isn’t clear how much Country Garden is pumping into the project, but going by its size, it would dwarf the Hong Kong-listed firm’s first project in Danga Bay, which only covered an area of 50 acres or 20ha, for which it had paid RM900mil.
The new project is being dubbed Forest City.
Industry sources said that such a reclamation project would probably be the largest reclamation project in the country, and that the parties embarking on it would have to have deep pockets.
Country Garden had cash and bank deposits amounting to 21.51 billion yuan (RM11.37bil) as at June 30, 2013.
KPRJ, on the other hand, is the state government’s investment arm. It owns 30% inIskandar Waterfront Holdings Sdn Bhd (IWH), which, in turn, has 1,619ha of land inIskandar Malaysia.
Country Garden is already well-known in the Iskandar region for its maiden project in Malaysia, Country [email protected] Bay, which surprised the Malaysian property market when it launched 9,000 condominium units at one go last year.
The RM10bil project is built on the land in Danga Bay it had acquired for RM900mil in December 2012.
It is understood that the new project by the Country Garden-KPRJ joint venture, which is situated near the second link crossing to Singapore, will also become a new tourism hub.
Previous reports have indicated that the Johor government might also consider creating Malaysia’s biggest duty-free zone in this reclaimed land area, leveraging on its proximity to Singapore.
The location of the new Country Garden-KPRJ development is also close to Singapore tycoon Peter Lim’s multi-billion-ringgit Motorsports City project, which will include a Formula One-compliant racing test track as well as showrooms, garages and entertainment outlets spread over 109ha.
The new Country Garden-KPRJ project illustrates the growing interest among mainland China developers in Iskandar. The Chinese already have a strong presence in the southern region.
Besides Country Garden, another developer, Guangzhou R&F Properties Co Ltd, made a record-breaking deal when it paid RM4.5bil or RM891 per sq ft to the Sultan of Johor for 47ha of land in the vicinity of the old Customs, Immigration and Quarantine Complex.
Sources said there were at least another three China developers in talks to acquire land in Iskandar.
Meanwhile, the sale of reclaimed land seems to be also becoming a trend in Johor. Prior to this, IWH had sold a 28.33ha man-made island at Danga Bay to Temasek Holdings Pte Ltd and CapitaLand Ltd for RM800mil, while the land Guangzhou R&F bought is partially reclaimed land.
Published: Monday June 16, 2014 MYT 12:00:00 AM
Updated: Monday June 16, 2014 MYT 8:30:54 AM
China-Malaysia developers plan 5,000-acre man-made island off Johor
by ng bei shan
Yuen(pic): ‘We are still very confident with Malaysia’s fundamentals
SEMENYIH: The property slowdown in China and Hong Kong is not a deterrent for China’s property developer Country Garden Holdings Co Ltd.
The company, together with Johor’s economic development arm, Kumpulan Prasarana Rakyat Johor (KPRJ), have planned for a development over 5,000 acres (2,023.43ha) of reclaimed land in a project spanning more than 30 years.
The project, which will include a man-made island, will be near the second link in Johor and a study on the matter was done more than a year ago.
In an interview with StarBiz, Country Garden’s regional president for Malaysia project Kayson Yuen said the China-based company had studied the mega project, known as “Forest City”, for more than a year before it decided to invest in it.
-----------Published: Saturday June 21, 2014 MYT 12:00:00 AM
Updated: Saturday June 21, 2014 MYT 12:36:39 PM
Singapore concern over Johor project
by mergawati zulfakar
PETALING JAYA: An ambitious project which will see massive land reclamation work near the Johor Second Link has raised eyebrows across the Causeway.
The project called Forest City, which is said to involve several connected islands with a total land size of about 2,000ha – bigger than Pangkor island – could have potential transboundary effects and Singapore is concerned.
Singapore Prime Minister Lee Hsien Loong has written to his Malaysian counterpart Datuk Seri Najib Tun Razak about the project.
This is a follow-up to two third-person notes from Singapore on the matter that were sent to the Foreign Ministry last month.
Another letter was handed to Minister in the Prime Minister’s Department Datuk Seri Wahid Omar when he was in Singapore for a bilateral meeting recently.
Singapore started voicing its concern after a report appeared in The Star in March on the project by China’s Country Garden Holdings Co Ltd and Kumpulan Prasarana Rakyat Johor.
The project will involve land reclamation to build luxury homes on man-made islands off Pendas in southern Johor.
So far, there have been no indications of environment impact assessment reports over the projects. However, reclamation of parcels of less than 50ha each do not require EIAs.
for good reasons. This IS madness.I call it a Madness City.. :nuts:
---------Forest City to be split into four islands
22 Sept 2014
GELANG PATAH: The controversial Forest City project will now be split into four islands instead of one single island.
The biggest island measures 1,005hectares while the smallest measures 58ha.
It is split into four islands following a hydrology study which saw the need to have more water channels to allow water flow along the Johor Straits.
Reclamation of the Forest City project stopped on June 16 this year following a diplomatic note from Singapore which asked for more details about the project and its impact on the Johor Straits.
This is in view that the project is near to the Malaysia-Singapore boundary and involves lots of coastal reclamation.
The briefing today detailed about the amount of coastal sand off Telok Ramunia meant for the project.
Reclamation for the biggest island alone needs about 118,155,717 cubic metres.
The sand are carried by barges to the Forest City site through the southern part of Singapore.
http://www.theedgemarkets.com/my/article/country-garden-receives-doe-approval-forest-city-projectCountry Garden receives DoE approval for Forest City project
By Jeffrey Tan / theedgemarkets.com | January 14, 2015 : 7:19 PM MYT
KUALA LUMPUR (Jan 14): Country Garden Pacificview Sdn Bhd (CGP), the master developer for the controversial Forest City project in Johor, has received the approval on its detailed environmental impact assessment (DEIA) from the Department of Environment (DoE).
In a statement, CGP said the DoE has accepted its proposed measures to minimise or mitigate environmental impacts through “integrated and workable solutions”.
With the approval, CGP’s executive director Datuk Md. Othman said the property developer's next step is to ensure “compliance monitoring” in carrying out the project works.
“Our next step is to ensure that all compliance monitoring, in terms of air, noise, water quality and sediment, are robustly implemented and carried out,” he said.
Md. Othman said one of CGP’s immediate priorities is to minimise the impact to the local communities and to ensure the surrounding ecology are well preserved.
- See more at: http://www.themalaysianinsider.com/...ledges-to-preserve-envir#sthash.VEjU5J0c.dpufForest City developer to restart work in February, pledges to preserve environment
BY EILEEN NG
Published: 1 February 2015 8:50 AM
The Forest City project in Johor ran into controversy last year when nearby residents, environmentalists and Singapore raised concerns over its massive reclamation works. – Pic courtesy of Country Garden Pacific View, February 1, 2015.
Developer Country Garden Pacific View (CGPV) is targeting to restart land reclamation works at its Forest City project in Johor this month after a seven-month halt by the Department of Environment (DOE) following environmental concerns, and has pledged to spend millions to preserve the surrounding seabed, including the sensitive 48.5ha seagrass area.
http://www.theedgemarkets.com/my/article/forest-city-resumes-gdv-shrinks-25-rm450bForest City resumes but GDV shrinks 25% to RM450b
By Chen Shaua Fui / The Edge Financial Daily | March 20, 2015 : 8:57 AM MYT
Md Othman at the media briefing yesterday. He said the project is to be scaled down to preserve the sea grass at the site. Photo by Kenny Yap
KUALA LUMPUR: Country Garden Pacificview Sdn Bhd, the developer of the controversial Forest City Project off the coast of Johor, has bowed to pressure from environmental concerns and reduced the scale of the mega project, which initially spanned 1,977.7ha, by 30%.
This has effectively lowered the project’s estimated gross development value (GDV) by 25% to RM450 billion.
“At 4,887 acres (1,977.7ha), we estimated it (GDV) to be RM600 billion. With the reduction of size by 30% to 3,425 acres now, the GDV is around RM450 billion,” Country Garden Pacificview executive director Datuk Md Othman Yusof told a media briefing here yesterday.
He said the reason for reducing the scale of the project, which is to be entirely built on four separate reclaimed islands, is to preserve the sea grass at the development site.
It was also announced at the briefing yesterday that work on the Forest City project, which lies close to Singapore, will recommence, with its completion due sometime in 2045.
The company said Forest City’s four islands will be reclaimed in four phases (Island 1: 979 acres; Island 2: 1,896 acres; Island 3: 405 acres; and Island 4: 145 acres). The topside development will be developed concurrently during the reclamation phase of each island.
The 66:34 joint venture project between one of China’s largest developers, Country Garden Holdings Ltd, and Esplanade Danga 88 Sdn Bhd, whose main shareholder is the Sultan of Johor, was stalled for eight months since June 16, 2014.