WIDER SALES REACH FOR FOR­EST CITY

Coun­try Gar­den to pro­mote Jo­hor projects in S-E Asia, Mid­dle East and Europe, among other ma­jor global mar­kets

New Straits Times - - Business - LIDIANA ROSLI KUALA LUMPUR bt@me­di­aprima.com.my

FOR­EST City, a mas­sive devel­op­ment in Iskan­dar Malaysia, Jo­hor, is going global as owner Coun­try Gar­den Hold­ings Co Ltd switches strat­egy to ex­pand its sales reach.

Coun­try Gar­den, China’s third largest de­vel­oper by sales, plans to set up show­rooms in more coun­tries to pro­mote the project.

Ac­cord­ing to Reuters, the group said in a state­ment yes­ter­day it would set up show­rooms in the Mid­dle East, In­dia, Viet­nam, Thai­land and Ja­pan.

The state­ment was in re­sponse to re­ports that Coun­try Gar­den had closed some show­rooms that pro­mote For­est City in China.

The group said it was over­haul­ing its sales cen­tres in mainland China “to bet­ter fit with cur­rent for­eign ex­change poli­cies and reg­u­la­tions” and as it looked to di­ver­sify its devel­op­ment strat­egy.

“(The) Coun­try Gar­den group res­o­lutely abides by rel­e­vant for­eign ex­change re­lated rules and ac­tively adapts it over­seas devel­op­ment strat­egy to adapt to a con­stantly chang­ing na­tional and in­ter­na­tional pol­icy and le­gal en­vi­ron­ment,” it said.

The de­vel­oper re­port­edly sold around 18 bil­lion yuan (RM11.5 bil­lion) worth of apart­ments in For­est City last year, with Chi­nese na­tion­als ac­count­ing for 70 per cent of the buy­ers.

In a sep­a­rate state­ment, Coun­try Gar­den’s Malaysian unit, Coun­try Gar­den Paci­ficview Sdn Bhd, said it was pro­mot­ing For­est City to in­vestors from South­east Asia, Ja­pan, South Korea, In­dia, the Mid­dle East, Europe and the United States.

It has part­nered with in­ter­na­tional prop­erty sales con­sul­tants, such as Ed­mund Tie & Co, CBRE Group Inc, Ray White and High Mark Real Es­tate Bro­kers.

“We also in­tend to set up sales gal­leries in Viet­nam, Myanmar, Tai­wan, Dubai and Ja­pan in com­ing months,” the com­pany said.

Its strat­egy chief Yu Runze said this would en­able For­est City to truly be­come a world-class city.

“We ini­tially tar­geted buy­ers from mainland China be­cause of our strong rep­u­ta­tion in the mar­ket as we have suc­cess­fully de­liv­ered 500 town­ship projects in China as well as a res­i­den­tial project in Aus­tralia.

“We en­vis­age For­est City to be one that will at­tract buy­ers from around the world,” he said.

Yu also clar­i­fied that the clo­sure of Coun­try Gar­den’s sales cen­tres in China was on the back of the coun­try’s stricter for­eign ex­change poli­cies.

“It is not a knee-jerk re­ac­tion to the Chi­nese gov­ern­ment’s pol­icy im­ple­men­ta­tion. We have al­ways planned to sell be­yond China and have, there­fore, cho­sen to bring those plans for­ward this year.

“Coun­try Gar­den will be tak­ing a holis­tic ap­proach to our sales and mar­ket­ing ini­tia­tives, and look to present an over­view of our projects in China and be­yond.”

Billed as the “next Shen­zen”, For­est City sits on four ar­ti­fi­cial is­lands and can ac­com­mo­date some 700,000 peo­ple.

REUTERS PIC

Billed as the ‘next Shen­zen’, For­est City sits on four ar­ti­fi­cial is­lands and can ac­com­mo­date some 700,000 peo­ple.

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