Malaysia's Forest City teeters over China property giant woes

September 03, 2023

Aimed at middle-class Chinese buyers, Forest City has weathered scant sales, Chinese currency controls, a pandemic shutdown and public anger at China's growing influence in Malaysia. But its future is in doubt again because of the financial woes of Chinese property giant Country Garden. "If nobody comes to Forest City, we cannot do business here." Malaysian Prime Minister Anwar Ibrahim has stepped in to try to save Forest City as it threatens to become a white elephant. As Country Garden fights for its survival, drastic efforts will likely be needed -- from both Beijing and Kuala Lumpur -- to get Forest City on its feet.

The source of this news is from Tuoi Tre News

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