Will Forest City deliver 20,000 units to buyers this year?

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Forest City Projecting Delivery of Over 20,000 Units This Year

The Forest City development in Johor’s Iskandar region is on track to deliver more than 20,000 units to buyers within this year. This projection comes amidst a period where international investor sentiment, initially affected by remarks concerning foreign property purchases, has reportedly subsided.
Unit Pricing and Existing Deliveries

The units slated for delivery this year are priced between RM13,000 and RM18,000 per square meter. This initiative aims to expand the number of property owners in Forest City, adding to the approximately 4,000 buyers who have already taken possession of their units. The developer, CGPV, previously handed over 482 units at its Cerulean Bay development in the preceding year, demonstrating ongoing project execution.
Addressing Foreign Buyer Concerns

Initial concerns among international investors arose following statements made by Prime Minister Tun Dr Mahathir Mohamad regarding the purchase of property in Forest City by foreigners. While the Prime Minister later clarified that such purchases would not grant Malaysian citizenship, these remarks had prompted a "wait-and-see" approach from some investors. The developer acknowledges that Forest City was impacted by this sentiment, but notes that the Malaysian government continues to welcome foreign investment.
Diversified Buyer Base and Local Contributions

Contrary to initial perceptions, buyers of Forest City are not exclusively from China. The purchaser demographic includes Malaysians and nationals from over 30 different countries. Beyond property sales, Forest City has made significant contributions to the Malaysian economy. RM1.6 billion in work has been awarded to Malaysian firms, and the development has paid RM300 million in state and local taxes. Furthermore, RM10 million has been allocated to donations and corporate social responsibility projects.

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Will Forest City deliver 20,000 units to buyers this year?

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