Forest City under review as it doesn't benefit Malaysians, says Azmin

Chan Kok Leong Chan Kok Leong Updated 7 years ago · Published on 1 Sep 2018 8:17PM · 4 Comments

Economic Affairs Minister Mohamed Azmin Ali says transactions in relation to the Forest City mega project in Johor were not done in Malaysia. – The Malaysian Insight pic by Nazir Sufari, September 1, 2018.

Putrajaya is reviewing Forest City, a mega residential project in Johor by a Chinese developer, as it does not benefit Malaysians, said Economic Affairs Minister Mohamed Azmin Ali.

“The government wants to review the Forest City development because what happened was, the transactions were not done in Malaysia.

“They have this special programme, where if you invest a certain sum of money in China, you get a free unit in Forest City.

“We cannot allow that as they pay taxes in China and the transactions were done in China. It does not benefit us,” he said during a press conference at the end of the Congress on the Future of Bumiputeras and the Nation at the Kuala Lumpur Convention Centre today.

Azmin’s comments are likely to unsettle Forest City’s Chinese developer, Country Garden Holdings Co, further, and come after Prime Minister Dr Mahathir Mohamad’s remarks on foreign home ownership on Malaysian soil.

Economic Affairs Minister Mohamed Azmin Ali (left) and PKR president-elect Anwar Ibrahim at the Congress on the Future of Bumiputeras and the Nation in Kuala Lumpur today. Azmin says the government wants to ensure that investments from China create value for local players. – The Malaysian Insight pic by Nazir Sufari, September 1, 2018.

The multibillion-dollar project in Gelang Patah comprises housing for 700,000 people and targets buyers from China. Houses in the project have been pitched to Chinese buyers with the prospect of a long-stay, non-permanent visa.

“They were planning to bring in 700,000 mainland Chinese to own these properties in Forest City. But, we want to ensure that all investments from China create value for local players,” said Azmin.

Earlier today, Dr Mahathir told the congress that the government did not want foreign “investments” that involved buying land in Malaysia, to be developed into cities for foreigners.

The prime minister, a vocal critic of Forest City, said Malays would lose out if more foreigners were allowed to buy local properties.

Besides residential units, the mega development also comprises four artificial islands, office towers, parks, hotels, shopping malls and an international school.

The Country Garden group is based in Guandong, and its first development in Johor was the Country Garden Danga Bay residential project, which has 9,500 units. – September 1, 2018.

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Comments

  • The sooner they ban forest city the better it can start off with a name change to GhostCity

    Posted 7 years ago by WaLid JumbLatt · Reply

  • I'm in full support of Tdm and Azmin... Ban them immediately.... We don't need enclaves of Chinese upsetting our local cultures n traditions... Better tell them to piss off to China...

    Posted 7 years ago by WaLid JumbLatt · Reply

  • Soon you see all contractors and businesses connected to Forest City filing for bankruptcy. With money flying out of the country soon Malaysians can be proud but they will all suffer with a recession

    Posted 7 years ago by Baldev Singh · Reply

  • Tun Dr M...you are the only one who can safeguard Malaysia... Azmin Ali carry on...no wavering.....

    Posted 7 years ago by Hantoo Blacklord · Reply