Country Garden cements its commitment in Johor with Forest City development
HONG Kong-listed Country Garden Holdings started off as a construction company in Guangzhou, China, 26 years ago. Since then, it has grown into a real estate developer responsible for 1,400 townships in 40 cities around the world.
With a total sales revenue of RM350bil as at end-2017, Country Garden is now among the world’s largest developers.
In 2013, Country Garden made its first foray into Malaysia with the Danga Bay and Central Park Tampoi developments in Johor Baru.
Country Garden’s growing confidence in Malaysia led to the development of Forest City, created in the heart of Johor’s Iskandar economic region as a smart and sustainable model city.
Aspiring to become a development that will drive the economy of Johor and Malaysia, Forest City has outlined eight core pillars: Tourism and Meetings; Incentives, Conferences and Exhibitions (MICE); Healthcare; Education and Training; Green and Smart technology; Regional headquarters; Near-shore finance; E-commerce and Emerging technology.
Forest City has employed more than 1,545 employees of whom 80% are Malaysians and it is estimated to generate around 220,000 job opportunities by 2035.
To date, Country Garden Properties Malaysia Sdn Bhd, a subsidiary of Country Garden Holdings, has contributed RM309mil in taxes including RM205mil in corporate tax.
The Forest City development has also contributed RM630mil to the Johor government in dividends, land premium, levies and fees.
Investing for the long-term
Country Garden has invested RM730mil to build the largest Industrialised Building System (IBS) base in Malaysia, which employs more than 300 workers of whom 80% are locals.
With a production capacity of 260,000 cubic metres, Phase 1 started supplying 13 types of prefabricated components covering one million square metres of the Forest City development.
Once Phase 2 is completed, the production capacity will reach one million cubic metres with a larger workforce of 810.
In the tourism sector, the RM1.8bil Forest City Golf Resort and Jack Nicklaus designed golf courses opened early this September. The entire golf resort will have 54 holes when fully completed. This will help elevate Johor as a key tourism hub in Asia.
In August, the Shattuck- St Mary’s Forest City International School, which offers boarding school experience and international curriculum, officially opened its doors. The American school’s first global campus in Malaysia marks a new milestone in its 160-year legacy.
The next development in Forest City is a 45-storey grade-A office building that will house regional offices, a hotel and retail shops.
Sustainable development efforts
Forest City has donated and sponsored over RM10mil as part of its corporate social responsibility (CSR) initiatives.
Over five years, Forest City has met the needs of seven local schools and provided affordable housing under Ihsan Johor to the underprivileged in the surrounding areas.
Joint efforts by Forest City and UPM have significantly preserved and rehabilitated Johor’s seagrass protection zone.
Country Garden has built two highways and 12 bridges totalling 9.6km to connect the surrounding townships.
The project is also featured in “Jewels of Johor: Johor’s Most Exceptional Development 2018/2019″ coffee table book. StarProperty.my is giving out 100 copies of the book. Register at bit.ly/2xUGbSy to be among the lucky recipients. Visit bit.ly/jewelsofjohor2018 to learn more about the awards.
Members of the public are invited to view the winning projects at the StarProperty.my Awards 2018: Jewels of Johor Showcase which will be held from Oct 16 to 21 (Tuesday to Saturday), 10am- 10pm, at Aeon Mall Tebrau City and Aeon Mall Bukit Indah, Johor Baru. Go to fair.starproperty.my for more information.