MB: Foreigners welcome in Forest City

Menteri Besar Datuk Osman Sapian has said foreigners are welcome to invest and buy property in Country Garden Group’s US$100 billion (RM410 billion) Forest City project in Johor.

Forest City is a 30-year project that provides jobs for Malaysians, he told a briefing recently, in comments that appeared to contradict Prime Minister Tun Dr Mahathir Mohamad’s vow to prevent foreigners from buying houses in the project.

“The Johor government believes that Malaysia has comprehensive laws that protect the rights of foreign investors and companies, including in purchasing property.

“The Johor government believes that the federal government is able to be fair in protecting foreign companies that run operations in Malaysia,” said Osman.

The comments are unlikely to ease confusion surrounding the fate of the giant project, which has been facing much uncertainty following Dr Mahathir’s pledge two weeks ago.

“Country Garden Pacificview (the project developer) is always providing economic benefits from the project to local agencies,” Osman said, adding that Forest City will create more than 9,000 jobs in the construction sector.

Dr Mahathir had capitalised on popular disquiet about Chinese investment pouring into Malaysia during his campaign ahead of the stunning election win on May 9.