FOR­EST CITY PROJECT EN­TERS PHASE 2

Project con­tin­ues to gain mo­men­tum with the start of IBS fa­cil­ity sec­ond phase

New Straits Times - - Business -

AH­MAD FAIRUZ OTH­MAN JO­HOR BARU bt@me­di­aprima.com.my

THE For­est City mega project is now in its sec­ond phase of de­vel­op­ment and is on the right track de­spite fac­ing chal­lenges from the global econ­omy.

Master de­vel­oper Coun­try Gar­den Paci­ficview Sdn Bhd (CGPV) ex­ec­u­tive direc­tor Datuk Md Oth­man Yu­sof said the project would con­tinue to gain mo­men­tum with the start of the sec­ond phase of its In­dus­tri­alised Build­ing Sys­tems (IBS) fa­cil­ity.

The fa­cil­ity will be­come the big­gest of its kind in the world, and boasts three 18-hole golf cour­ses and a five-star ho­tel.

“De­spite chal­lenges faced by For­est City, we are mov­ing in a very pos­i­tive man­ner. What­ever neg­a­tive sto­ries that were sup­pos­edly as­so­ci­ated with For­est City are un­true as we have con­tin­ued to de­velop the project ac­cord­ing to the sched­uled time­line we had laid out,” Oth­man told NST Business in an in­ter­view ahead of the launch of key For­est City mile­stones to­mor­row.

CGPV will un­veil a slew of new ini­tia­tives, such as its land­mark build­ing, and en­ter agree­ments with 21 do­mes­tic and for­eign en­ti­ties for up­com­ing projects.

The launch of its IBS fa­cil­ity and pre­sen­ta­tion of its con­cep­tual de­sign for the Darul Ta’zim foot­ball club sta­dium, which the com­pany is also de­vel­op­ing, will be held at the same event, to be held on For­est City’s Is­land One.

The IBS fa­cil­ity, which is cur­rently op­er­at­ing 12 lines, is set to be­come the world’s largest IBS fac­tory, with a to­tal in­vest­ment of RM2.6 bil­lion, in­cor­po­rat­ing tech­nolo­gies from Ger­many, Italy and China.

The first of the three 18-hole golf cour­ses in For­est City will be de­signed by golf leg­end Jack Nick­laus and his son, Jack Nick­laus II, and is ex­pected to be com­pleted by the first quar­ter of next year.

For­est City will con­sist of four re­claimed is­lands span­ning 2,025ha off the coast of Ge­lang Patah, Jo­hor. It has a gross de­vel­op­ment value of US$100 bil­lion (RM442 bil­lion) when fully com­pleted in 20 years.

Oth­man said For­est City was ex­pected to rein­vig­o­rate the “Malaysia My Sec­ond Home” pro­gramme as it aimed to es­tab­lish a city with world-class fa­cil­i­ties for Malaysians and the global com­mu­nity.

He said for­eign prop­erty buy­ers chose to buy sec­ond homes in Malaysia due to Malaysia’s cli­mate and mul­tira­cial cul­ture, and he be­lieved For­est City would at­tract many for­eign­ers who wanted qual­ity res­i­den­tial and business prop­er­ties.

“The planned town­ships within For­est City caters to global tastes. It will be­come a com­plete me­trop­o­lis, with in­fras­truc­ture that is rated five to six stars.

“The ‘Malaysia My Sec­ond Home’ pro­gramme can be re-in­vig­o­rated with what is be­ing of­fered at For­est City,” he said.

Oth­man said the spillover ben­e­fits of For­est City would be seen in Jo­hor and the rest of Malaysia as the project was a cat­a­lyst to­wards the coun­try be­com­ing a high-in­come na­tion.

“The most ob­vi­ous spillover is an in­crease in real es­tate value, as we can see that the real es­tate value in the area has in­creased man­i­fold. The prices of prop­erty here are on a par with what we can find in Kuala Lumpur, with some prop­er­ties go­ing for RM1,300 to RM1,400 per sq ft.

“Peo­ple will con­tinue to en­joy th­ese spillover af­fects and reap the re­wards dur­ing its 20-year de­vel­op­ment pe­riod,” he said.

Oth­man urged Jo­hor folk to grab op­por­tu­ni­ties that would come with For­est City’s de­vel­op­ment phases, adding that an es­ti­mated 220,000 job op­por­tu­ni­ties would be cre­ated.

“For­est City will con­trib­ute im­mensely to the coun­try’s gross do­mes­tic prod­uct and the in­dus­trial and eco­nomic sec­tors will con­trib­ute to the coun­try’s ex­ports. Malaysians must seize th­ese op­por­tu­ni­ties or else much of th­ese ben­e­fits will only be en­joyed by for­eign­ers,” he said.

The planned town­ships within For­est City caters to global tastes... The ‘Malaysia My Sec­ond Home’ pro­gramme can be re-in­vig­o­rated with what is be­ing of­fered at For­est City. DATUK MD OTH­MAN YU­SOF Coun­try Gar­den Paci­ficview Sdn Bhd ex­ec­u­tive direc­tor

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.