Inside Malaysia's Failed $100 Billion GHOST CITY (shocking)
This is Forest City, Malaysia the mega-project built to house one million people, turned Ghost Town in just 8 years...
It's unbelievable what's happening here, in this abandoned ghost town in Malaysia. Forest City was funded by building consortium Country Garden from China, this 'futuristic city' cost over $100 billion USD, but since it was completed, things haven't gone to plan, and ultimately, it seems this Chinese utopia on the edge of Singapore, may have failed. After reading about this place online, we knew we had to fly to Malaysia to find out what is really happening here! All the background information, how this happened and why no one wants to live in this city are this video.
This was a really crazy video to make, and creepy place to investigate, but was incredibly interesting and despite some real ghost town vibes, we are happy we made it. And on that note, without further ado, enjoy!
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#abandoned #abandonedplaces #ghosttown #travel #asia #forestcity
Inside China's Failed $100 Billion GHOST CITY
Hope you enjoyed this slightly different video! 🧐 Would you like a long weekend in the ghost town of Malaysia? 😉❤️
Bonjour, je vous pose des questions. Vous n'avez rien répondu, je me suis abonnée pour rien. Je crois, bonne journée.
Nope!! Too scary for me!! X
Had a feeling almost like "The last of us" game. Spooky😮
The beach certainly looks beautiful, but I’m sure it’s too hot to sunbathe. And I am not too sure about the swimming. I really do enjoy your videos.
Make sure you prod people to subscribe. I checked and somehow I had been unsubscribed, but I’m now subscribed again.
This was built so rich Chinese people could buy up Malaysian property. It was never meant for Malaysians , so the government restricted ownership. All work stopped immediately afterwards. That tells you everything you need to know. Also, the properties are not worth anything. Tofu Dreg construction is why it’s falling apart after 5-8 years. There’s hundreds of these places all over China. Millions upon millions of empty, half finished homes and apartments. That feeling of being watched is real. You were being tracked the entire time.
Dllmcfh. Hhmkachan
Chinese construction companies build high rises everywhere in Australia too. And sure enough, the news regularly report about those high rises that have serious construction defects, and are unsafe to live in, leaving the buyer who took a 30 years long loan with the bill.
Malaysia's GREAT LEADER, Mahathir Mohamed, didn't restrict ownership as these properties were already owned by rich Chinese. He limited CITIZENSHIP and RESIDENCY to the rich Chinese owners. He said this Chinese city was so high-tech no one in Malaysia knows how to operate it. He said it would inevitably become a center of Chinese power, wealth, and influence that would eventually control Malaysian politics, economics, everything. It's covert colonization by China. Same thing is happening wherever you have an area with a super rich foreign population embedded in a nation of relatively poor people. The rich foreigners will bribe, threaten, assassinate, their way to ever expanding and entrenched power and privilege. Like the rich Jews in the USA and all the Western nations. They have weaponized the governments against the natives, they've flooded the Western nations with hostile, military aged MEN to further BREAK DOWN THESE NATIONS to expand Jewish power and ownership of assets. China is simply copying the Jewish model, globally. It appears they're acting in cooperation with the Jewish banksters for joint global domination.
If you follow China Ghosts you will soon become Ghosts of China.
The scale of the housing bubble is truly absurd
It’s in Malaysia. The Chinese government instated strict currency controls and the Malaysian government was reluctant to let Chinese buy apartments.
nah, the project failed because DR M wanna restrict Chinese buying. It's well known in Singapore that Malaysian govt like to flip their policies like a pancake (Prata). Thats the reason why although Malaysian properties are 5-10x cheaper than Singapore, not many Singaporeans are rushing to snap them up. I have a friend who bought a terrace house in JB and lost 70-80% of value due to to govt policy changes.
It was promoted during the Najip Razak era but when Mahathir became PM again he restricted PRC purchases
Madey is a racist.
Get your facts right. This whole project was targeted for rich mainland Chinese people and not Malaysians. Malaysians honestly couldn't care less about this place.
@@user-gb2sw2no3l still doesn't change the facts Malaysian govt, esp under dr M, likes to flip their policy like prata. 😆
This reminds me of the set of a post-apocalyptic sci-fi movie. It looks creepy, intriguing and oddly beautiful. The foliage is gorgeous. The black mold and the crocodiles though, make the place a hard pass for me.
Reminds me a bit of the London Docklands area back in the day, huge hype then financial crash and developers struggling to sell the flats. Today the Docklands is full and buzzing.
That scale not seen in Malaysia. Takes time.
It will take decades before the Chinese propert crisis has been sold. Maybe the Malaysian government could buy it cheap and attract other foreign buyers?
Get rid of the black mold first.
@@FRIPPE_THE_GREAT Apparently you don't understand WHY these places aren't selling. You can't sell something cheap, when people are going to buy places expecting it to last decades because after all it's housing and cheap is still expensive, but that's not what happens with Tofu Dreg construction. Buildings like this are falling apart in CHINA ALL THE TIME, built by the very company(s) that built this project and don't for a second start to think they built it better outside of China because BRI projects around the world are experiencing problems because of poor construction. There was a housing complex just last week, built in the last 30 years that had to be demolished because it separated, where two segments of the building separated from each other which created of course all kinds of problems including gas leaks, but when a segment of the building that was leaning had part of the top fall away, it was demolished the next day. ALL THE TIME this happens in China and their BRI projects outside of China. These were built with the expectation that Chinese people would buy these places because the units were NEVER priced in a range that Malaysians could afford, and the ones who could enjoy their own places already, in the towns where they're from. There's also at least 2 ghost cities IN China.
@@FRIPPE_THE_GREAT GREAT LEADER MAHATHIR MOHAMAD said he hoped the monkeys would reclaim the island. 🥰
One of the best yet!!! Thank you guys.
How Ironic ... "Forest City" actually becoming a forest / jungle.
Tarzan agrees. 🙃🤣
What a weird place. Definitely very odd vibes. As you say more questions than answers. As always thanks for the insight. ❤
Funny twist and spin ! Nothing "weird" about apartment building complexes .
@@peekaboopeekaboo1165 empty cities are extremely weird. get a grip on reality.
@@sandrashane677 Fake news and disinformation > ghost city/town There are only abandoned high-rise, condo-apartment complexes .
That is so fascinating, but, yes, surreal! It has such potential and really is a nice idea.
Well your questions can be easily answered. In fact the stage one is almost sold out. That is no joke. But the company lacks of delivery of delivery. Either they are not finised inside, or the buyers are not allowed to acquire. Because most buyers are Chinese. The cash has already flown for long time, but they cannot become owners because of governmental restrictions. In addition the buyers were promised to get mm2h status, but that will not be the case as they will not fullfil the revised much harder conditions. Whitout mm2h, they cannot move in and so they are hoping to get back the money they spent. Unfortunately, Country Garden has defaulted in their interest payment on their bonds and so the company will soon be delisted from Hongkong Stock Exchange. That means that the company itself will be put under liquidation and therefore they cannot continue operations for the moment. You must consider that Country Garden is only one typical project of the company, there are many others of similar size all around China, which are also sold out but not delivered yet. If there is no solution to this company, it might become the biggest desaster that ever happened in Chinese housing. So there are speculations that the government will step in soon and provid the company with fresh funds, as China cannot afford to liquidate this company. But it is really the last chance. However, it is unliely that this lead into stage 2-4. More likely they will finish stage 1 and find an exeption agreement with the Malay Government, so that the chinese buyers can acquire ownership and MM2H-residency. But this will come to a huge cost as it is hard to deal with Malay Government.
Thank you for clarifying.
So Essentially the Malays fk them...
What info source are you using to determine that "stage one is almost sold out"?
Get lost chicoms you all bring disasters everywhere you all go
It's not sold out, stop repeating empty claims. Dealing with the Malay government is easy, you just have to bribe the right people.
Truly fascinating! Thank you both for sharing.
Imagine you are a streamer who works from home and live here..... it's like a dream
Thats a straight up Nightmare, wake me up please.
Not really, you would worry about it falling down because of tofu dreg construction. Those towers will be a rotting, rusty heap within another decade.
@@lookingbehind6335 you're sad
So you want to live without a community?
Actually properties there got 85% ownership rate/sold, just 2% occupancy rate because it's mostly second/vacation home for the owners. That's why they're maintained beautifully without much problem
My dad has an apartment unit here. Its not as bad as the video made it out to be. We are not from Malaysia but from Indonesia, we do use this place as a second home so rarely here but we maintain it well. Currently we are staying here for midterm stay. But most of the units arent purchased by malaysians and act as a second home thus not many people stay here long term. But they do have a functioning school that is attended by child of parents living here. And the residents constitutes of mostly foreigners. In my floor out of the 8 units 5 are resided and renovated but the other 3 is sold out but the owners never did anything to them as they are not from here. In my building there are Koreans, Chinese and Indonesians staying here. Its actually quite lovely and lively. We stay at ataraxia park 1 overlooking a swimming pool and its used daily by the residents almost all the time with minimum occupancy so you can enjoy the pool to your group if you time accordingly. The tennis courts and basketball courts are daily used too. Facilities are complete and whats great is due to the place not being so crowded the air is always great, barely any pollution. So if you like a modern atmosphere but want to do a getaway I think this place is the best of both worlds. The only downside i would say is that you need a car here as public transport to the downtown are of Johor is not frequent and its quite a ways away. But if you commute to singapore itll take you to the heart of singapore in 45 mins driving during non rush hour times.
Thank you for being a supportive neighbour. We welcome you anytime anyday
Yea whatever…..no one was lying or trying to lie…..what TF…..you’re the one who’s obviously lying….and I’m sure you didn’t even watch the video
It’s hard for British people to understand Asia property. Just because few people reside there does not mean it was bad for the developer, most of these users its are sold LONG before they are built. Also, it’s so new that it’s impossible to know what will happen, in Malaysia something that looks unfinished can be completed very very quickly.
I guess non rush hour is like 00 to 24.😉
@@andrewstones2921 I’m not sure they were British also don’t lump us all together. I have travelled a fair bit and visited several Asian countries, Penang in Malaysia is one of my favourite destinations in the entire world, unfortunately my health is too bad to travel any more , in fact we were considering moving to Malaysia in our retirement !
Wow that is mental...so interesting brilliant video
Interesting video but a couple of minor quibbles: Forest City is not a Belt and Road Initiative (BRI) project. They tend to be state-backed public infrastructure projects, this is a private real estate venture between County Garden and the Sultan of Johor businesses. Secondly it’s not a $100 billion city, the actual cost is $4 bn.
No minor, actually. Vloggers mostly copy each other for volume. Dun really care about all facts. It can also a convenient arena to smear BRI and China.
Looks like the Sultan keeps pouring money into the place to keep it up. Come back in 5 years. It will probably be booming.
@@Sealight007 With Chinese construction? Tofu buildings will collapse in 5 years.
The estimate of $100 billion as the budget for the project appears in many reputable sources, including Bloomberg.
this is a money laundering scheme and form of capital flight in the name of so called investing
Compared to Los Angeles where I use to work and live, this GHOST CITY still a futuristic super clean city compared to 3rd world homeless zombie infested hell-hole American cities.
At least American built infrastructure don't fall apart in 5 years like China tofu dreg buildings
@@buisnessclass9520 Are u kidding me?🫠🫠🫠US infrastructure been collapsing by the 1000s, all u have is FAKE MEDIA that keeps things together🤣
This "ghost city" is in Malaysia not China but was built by a Chinese company.
Yeah, kind of misleading to say Chinese ghost city. Makes people think it’s in China but it’s actually in Malaysia. But there’s so much anti China propaganda that I guess you get more views if you make people believe it’s in China instead of Malaysia.
That is what they said.
But it is run by China and catering to people from China. Malaysians are not even interested in these apartments.
That's what they said if you would have paid attention.
@@keepcreationprocessJB 10:12 Johor State in Malaysia.
What a beautiful place actually, and the peace and quiet may be a bit eerie but after a couple of days or nights in most Asian cities, it could be quite nice too, I guess. I hope they succeed in the future though!
If I hv the money, I do not mind living in a tax free zone like this. No annoying neighbours at the villas
Awesome video w/ great content. I saw your channel when you guys had 2,000 subscribers. Now, you have over 200K subscribers. Great work and good luck to more ahead!
I really appreciate all the research Matt shares with us!
And Julia....
Great video, Matt & Julia!
I live in Southern California. In 2019, I had someone come and give me an estimate for some construction work to do at my house. The price was two and a half times more expensive than what I expected. I asked him why. He told me that construction materials had gone Sky High. The reason was China was buying up all the local construction materials because they were booming in China! Now, I read and hear about ghost cities in China and can't help get angry about all the waste. It's hard to believe a country can allow such a thing to happen.
it may have to do with the mindset in China, which is : get rich quick, by any mean. With that mindset, you don't build to last. The irony is, once those Chinese folks become wealthy, well, they want to spend it, and they spend it on quality stuff, which Europeans/Japanese built to last. Think a mercedes car, or a winery whose land is not polluted in Europe, or a manor in Europe. As soon as they become wealthy, they move their money (and themselves) to a country where things have historically been built to last (=the West, and more specifically, English speaking countries). Why we have higher standards in general, may have to do with the influence of Christianity in the West, which teaches us that being obsessed with money is bad and wrong.
No, it's not because of China. It's because Wall Street brokers, since 2008, have the right to OWN COMMODITIES. They HOARD COMMODITIES they own to HIKE PRICES for HUGE PROFITS. People have made videos showing hoards of lumber and other construction materials around the US, on ships loaded with shipping containers.... The news will say, "Supply chain problems lead to scarcity of materials in stores, that's why prices are up.' Bollocks. It's Wall Street brokers HOARDING for SUPER PROFITS. Congress let them start OWNING COMMODITIES. That's something NEW, and it's why prices of everything keep HIKING.
FOOD IS A COMMODITY. THEY (WALL STREET) HOARD FOOD, THEY WIPE OUT AGRICULTURE VIA WEATHER WARFARE, SANCTIONS ON FERTILIZERS, AND OTHER MEANS. THEY ENGINEER SCARCITY. THEY MAKE HUGE PROFITS.
What a waste of resources :( And in many other parts of the world people cannot find a home. Let alone millions of refugees who have nowhere to go. What a world ....
Malaysia can place 100k rohinyas here to make it "vibrant" but they will mess it up like our towns.
It's a commercial project. And you can't force people to like it. That's it.
If you work you can find a home to buy . Refugees can stay where they are .
Great vid very strange to see this place thanks for this last weeks vlogg wa good also 👍👍
Hi you two, this is the first time I've heard of Forest City, what a bizarre experience...it was really interesting to watch but I have so many questions which I'm sure you both do as well....very odd..... thanks for all you do! xox
Thank you so much! Really glad you enjoyed it 🥰❤️
Thank you for this video. Im malaysian and staying in Malaysia but didnt know or heard the existence of this place. Such an eye opening.
It’s so strange that people in the country don’t know about it. Like they didn’t actually want people to move in?
Maybe there is not much publicity in Malaysia because this project was intended mainly for middle income mainland Chinese. I have read, very few Malaysians can afford to live here, anyway.
The whole city was built on reclaimed land. Reclaimed land requires many years to settle down otherwise.....good luck to those who bought the property there
Amazing video!
Looks great, I'd live there. If someone was willing to spend the money, I bet they could make it work. Drop prices, turn half of it into hotels, make it a tourist destination instead of a residential area.
I don't see a future for this apartment complex.
It's safe to say the developer made a bad investment.
Yep. It's explained @ 7:05 a combination of bad policies. It's still a nice place. However the developer needs to sell it at a discount at this stage. It is better to take a hit now then to lost the entire investment.
The developer was Country Garden, which is now bankrupt owing to China's real estate woes.
I still think I'd prefer China's model. Have too many homes and not enough people, with very little in the way of homeless people. Compare that to US, Canada, Australia UK... Where there are NOT enough homes, skyrocketing prices, and empty homes washing dirty money.
This project had nothing to do with the Chinese gov't. Giving it a title with "China" it in give the connotations that it was a state sponsored and funded project - this was not the case. Read up on it here: en.wikipedia.org/wiki/Forest_City,_Johor 🔍
However, not working.
No enough people. Built for Singaporeans。have friends live there……
maybe you should move here😂
yes US need to learn from China and other Asian countries to fight their homeless inflation issues. The only way to do it is to build more homes like this.
I'm in Forest City right now. It's quite empty but the non-tourist occupancy rate is rising. But for a place which is built for tourists, I find it ironic I kept being approached by security guards and told not to film in the buildings. Its a very irritating experience.
Wow!!! Fascinating video. Thanks for sharing.
Another cracking video guys.
Your vlog from Forest City has the impression that it sheds a lot of knowledge about certain matters related to China, especially the explanation of the reasons for its failure. From what I read after your vlog, the project itself was also scandalous in many cases when it comes to nature-related destruction. This also sparked protests in Singapore. And the very sight of this abandoned city, before it really started to come alive, resembles a sci-fi disaster movie. As if a significant part of humanity had been exterminated and its few remnants remained in the buildings left by our civilization. Quite a telling sight for us humans. Regards.
Why do they say fail china ghost city. This is a joint project of China private real estate and Malasian company.
I wonder why the Malaysian authorities don't just compulsorily purchase the whole area and take control of the development. It must have massive potential being so close to Singapore.
I agree.
Any land of the Johor sultanate is johor's business. It is the most powerful state in Malaysia with their own army. No kidding. So the gov of Malaysia can assist in policies eg easing criteria for mm2h, easing visa, tax free status. It cannot afford paying 100b USD. That is madness. We have many world class projects to complete like the ECRL train from Thai border, the Pan Borneo (1600 km) highway. The KL to Singapore HSR. It is a mega private initiative. Nothing to do with Malaysian gov.
You guys knocked it out of the park with this video.Icould actually feel the desolate feeling that you spoke about.Did you get a good Chinese meal out of It cause I know know you like to eat!!!!!!😊Kathy here subscriber from USA.
The place is already quite well sold. And new islands are not reclaimed yet.😂
@SSxxx18 maybe speculative buying. Not staying there. So after 5 years can sell.
It's built on land owned by the Sultan of Johor also currently the king of Malaysia...there's talk that the proposed high speed rail station will be diverted to Forest City
It is not land, it is sea. We sold the sea not land. How can you be so ignorant that the city was built on the sea, reclaimed ofcourse. And we sell sea, who else could sell their sea?
great honest vid. Thanks
Such a high quality video. Thanks guys.
What a mad ,weird, fascinating place..You did so well in describing it...thank you.😊
Thank you so much ❤️🙏🏼
Love your videos, interesting, informative, a great sense of humour, and very well filmed. Keep safe guys 🤗🤗❤️❤️
excellent and unusual episode thanks guys muuuuuuha x
How dare anyone ask questions about a property they may want to buy! Just sign here and hand over the cash.
There is obviously more there than meets the eye.
They are not stupid they know that these vloggers are not there to buy
@@sleo3720 Fair point. They can probably 'sniff out' who's genuine and who's not.
Garbage like this is why Chinas economy is crashing. There’s hundreds of these towns all over China proper.
@@Parawingdelta2 And sniffers are bad because ... eh why?
I worked in Bahrain in 1995 - 98 . Property development was ahead of population numbers. I was part of a building team , building a shopping centre. When completed only the cinema let in the first year. A year year later a super market and three or four shops. It is a good sign if the toilets flush, grass is cut, streets are clean.
I've never heard of this place, but it's fascinating. I bet the Al Maktoum family could turn that place around and make it into a new Dubai in no time at all. It's all about the marketing now, because the infrastructure seems to be there.
I remember those day when they predicted that the palm jumeirah will failed due to delays but look what happened to palm jumeirah now. Hope we could be as successful as palm jumeirah does
Great job on the video!
Great video Kids!!
There are so many properties in central Johor with an equally short trip to Singapore including Forest Cities long completed little sister called Country Garden. The project is supposed to be on 4 islands and was supposed to take 25 years when announced. As for the beach and the water nice to look at but to harsh to play on and definatley dont go in the water. Its not very clean and there are Crocs!
great video
How can they turn these places into usable space.? Convert them into high retirement resort style apartments, and market them to the European, American and Japanese aging population. Currently, the Malaysian currency is cheap compare with the US$, EU-Euro and Japanese yen. Even neighbouring Singaporean might be interested. Many of them could become Malaysia, my second home residents. No?
Extremely good idea, they should market it to the western countries, lots retirees (if Malaysia MM2 requirements are cheaper/lower) will be interested if outgoings r not too high. It’s actually at a very good site
It's all about the $$$
You won't believe this but the retired European are actually poor now
As a European I would prefer Spain, where you can find beach property at similar prices, without the crocodiles and mold (but check carefully), within the EU and with your home country health care coverage. Americans would probably be hesitant about a Muslim country and prefer Costa Rica or Thailand. If you want to populate phase one quickly, move the people of Gaza there.
They did promoting the place to every continents of the world. There are no specific nationality requirements, it is open to all human being, with money ofcourse
Now, this is great content! ;ooo :O
Who is maintaining the mechanical systems? Who is making repairs? There should be thousands of workers to maintain this city. I have so many questions.
Nobody, just like everything Chinese, it’s an illusion. Look up Tofu Dreg projects.
I've been hearing about this place for many years and I'm absolutely astounded that they are still building! The place is beautiful but I heard that no one wants to live there because it's too far away from the city. Are the buildings being maintained or are they left to decay? That pool or fountain at 21:46 is beautiful as well as all the vegetation in the complex. It's highly doubtful that anyone there will answer questions honestly. It's like you went to sleep and woke up to find that everyone had disappeared. Those nighttime views tell a big tale. 😄
Loving your channel both of you. There is a part of Tianjin in China which is very similar to this - a complete ghost city with incredibly ornate houses. I stayed at the Tianjin Goldin Metropolitan Polo Club hotel. There were about 20 of us staying in this huge, beautiful building, and my room was a palatial suite. I was the only one who used the massive indoor pool through the week I was there. Really worth a visit when you’re next in China 🙏🏽
Ohhh interesting! We would love to visit for sure! 😍❤️
In Vietnam too.
Tianjin Goldin Metropolitan Polo Club ❤️
China mainland has many such cities. Normal there.
This is really a strange place you found. As you mentioned completely opposite to Singapore in all ways. Thanks for posting this video. Regards from Denmark
Interesting story. ❤
Thank you! ❤️
how bizarre, how bizarre....
WOW! YOU HAVE REALLY RAISED THE BAR WTH THIS VIDEO. i knew about this place and the Ghost Cities in China but I never thought I'd see one up close. It was, as you said Matt, incredibly eerie. It was also lovely. At night though, with the whole huge city in relative darkness, it feels almost trecherous. I can't thank you enough for going there...staying there!...You two are truly the best of exploreres. Love to You Both....Suzi
this is in malaysia tho lol
What an idiot, this is not in China,
Also interesting that this is the only such city we have seen. Why have no chinese bloggers shown cities in China? Oh..
Straight out of a science fiction novel or Gabriel Garcia Marquez! Other worldly! Crazy weird. Eerie is the word. Thanks for this totally bizarre clip! Tashkent on Tuesday!
This project is intended for PRC & Singaporean, not for locals. That's why it's empty. What makes it more entangled is that this project still belongs to Country Garden.
What do you think keeps it from being appealing to Singaporeans? Why do you think ppl from other parts of China aren't living there? Even for vacation homes?
it is for everyone who want to buy an apartment here if they have money.
A place that big and it leaves me with out a thing to say or ask ...... well done
What an amazing and strange place. Thank you for the tour
Hope Malaysia government and private sector can joint venture and do something about it ... We will see if JS-SEZ could do something about it and we will see it in the next few years
Malaysia government? 😂
Please be very careful it’s appears to be very sinister and creepy! ❤! Such a shame that a beautiful place is so abandoned.
Careful of what? Wild life? There are private security there.
Welcome back to Malaysia. I;ve been watching your videos for a while now. What I heard they will open this housing city for Singaporean to buy since the economic downfall in China.
The developer is too lazy to send their marketing team to US & European investors.
This is the type of place suspense/horror movies are made of. It has that, where are all the people, vibe.
An ant infestation coupled with Black Mold is enough to shut the whole place down as it is. It would probably cost millions just to deal with those two issues alone. The investment company and government should fix the place up and market it to expats and vacationing foreigners, for purchase or rent. Who wouldn’t want a three bedroom penthouse suite for $800 dollars a month. Something to think about………..
The group behind this construction, went down and that’s why it is as it is.
Question: did you do the drone shots? I'm surprised you'd have "permission" to do that... so so strange. Creepy beyond belief.
This Forest City really makes me sad on so many levels. What a wasted beautiful place. Being where it is I guess they wouldn't allow an outside country to come in and take control. Has so much potential. I like quiet but this is on a different level. So different from the other places you have shared with us.
For sure, that’s what fascinated us too, the silence is deafening ❤️🙏🏼
It must be a little sinister to be in a deserted city. Happy travels to you both 😊
As there was a Malaysian Prime Minister who was jailed on corruption charges USD 100 million could be due to this reason the Chinese company went back leaving all operations stopped.
Ex Malaysian PM Najib embezzled $4.5billion from 1MD fund for personal use.
What’s shaken? Nice upload. It would be really cool if you guys would show us the underground bunker part of the city that is underneath all that. Like someone said don’t worry it’s gonna be occupied really soon as soon as it is safe to come back up from down below.
Chinese Developers make their money by churning out properties like these to sell to Chinese buyers. Chinese buyers do not buy these properties to live, but as investments. They buy apartments (usually their second by now), to hold until the value appreciates, and then sell to get a return on their investment. Forest City failed because a) the pandemic - buyers or potential buyers could not travel to Johor to view the development and put a deposit on their new apartment. b) Then Malaysia had a change of govt and the new govt was not so inviting to Chinese investors, particularly in property. c) Then the Chinese govt also cracked down on property investments, and on outflow of capital, so buyers could not service their mortgage for an apartment or home in Malaysia. And I am sure there were other issues. But overall, the plan and intended customers for Forest City was not based on reality. The plan was to build 700,000 units. On reclaimed islands. And priced for Chinese buyers but not Malaysian (local) buyers. The locals could not afford the units. And where would the 700,000 new home owners work? Are there offices, or businesses for 700,000 employees? The reality is that developers do not worry about the bigger picture. There is no bigger picture for them. Build the units, sell them, then move onto the next development.They have left a trail of ghost cities and uncompleted homes in the wake of the property development crash in China. This just happens to be in Malaysia. There are no industry in Johor that will need 700,000 workers who can afford homes in Forest City.
No worries. We sold the sea, we kept the money to taxpayer coffers and leave to the buyer to do whatever they want with that sea. Malaysia didnt lose a dime. And malaysia didnt bother to buy the property as we have plenty of landed hose already. Who need house on the sea?
Thanks for the analysis.
@@Ameng3471 Probably the local fishermen
Apocalyptic.....WOW😬
So crazy right! 👻
it looks such a lovely place, i would stay there just for the reason its quiet!
Very interesting!!!
Great video, I was always interested in this project. Maybe they should have checked if the water was crocodile infested first.
Where'd you guys get your food at??? Also pretty cool video y'all that is got to be a very strange place just from the looks of what you guys showed good video thank you.
Great video of a ghost city 😊
This video is fantastic! Thank you for making it
Holding the breadth to see who moves in first. Once a crowd starts to form, then its time to jump in. Malaysians love to follow the crowd.
This is habited by 50,000 4 years ago and now went down to 9,000 idk today. Who wanted to live in a city needing half an hour drive to buy groceries, mosquitoes and not well maintained amenities?
This kind of place is so amazing, peaceful and modern in one
It is so sad to see the state of this growing city. I do hope they are able to figure out something financially and safe it. With 8 yrs now all the damage being done to the buildings will cost a mountain full of money to fix. It def is shady of how the staff reacted and behaved when you both were touring the area. I'd be skeptic to live there, as it looks to be a lot of false truths flying around to hide what they don't want people to know. Not only the destruction to the forests all for nothing. If nothing happens I see the forest city being over taken by the forests itself.
Could Canada hire china with its billion dollar surplus and build a chinese ghost city here in Alberta Canada.
@@keangwooichoo6138 yeah a payout Alberta has five billion surplus I think it could use some of the money to build homes but I wouldnt wont to meet the president.😅
Looks / Feels like it’s hunted. How weird is that place ? 👍❤️👍
I’d love to find out the truth about this city? Very odd and reminded me of I Am Legend! Ultimately though, with so many homeless people around the world it’s such a shame. Feel for those who are stuck there! As usual another fascinating vlog guys but like you I have lots of questions!! I must Google this place! 🥰🙅♀️🙅♀️
Really glad you enjoyed it Sally! Glad we could share it 🥰❤️
Surreal! The full sized city still looks like a model from the drone footage. Such a monumental waste of time, energy and materials; it's to be hoped that a purpose/new lease of life can be breathed into the place as it stands.
A Singaporean/Cambodian/Chinese venture is building a new 16 billion dollar in Sihanoukville called Ream City - along with a whole new island in Phnom Penh (Koh Korea). The island is in a central area and a ton of new shops and cafes have opened up in the area + tons of ppl go everyday. The view of the water is really nice and a lot of ppl go after school or work. The real estate developments have not finished, so the long term success is unknown right now. Ream City is in a random location (similar to forest city), and it doesn't look like it'll be successful in the long run tbh
Fair assessment
Seems crazy in many of our nations the cities are struggling with housing supply, meanwhile places like this are pretty much completely empty.
Reminds me a bit of some parts of Eastern Germany after the reunification. Everything is nice, working, tidy but there are no people anywhere. Like in a computer game when you are unable to switch to multiplayer mode.
Very strange. It is hard to call it a ghost town as it was never really inhabited. I have to hand it to you that you even stayed there!
So interesting! Maybe I’m a cynic but I’m surprised genuinely that the builders honestly ever imagined that Chinese leaders would allow that much money to leave their land, 2nd homes or not.
And, whether the Malaysia government will allow so many foreigners in to buy properties and live there for the rest of their lives.
The video is about a Ghost City in Malaysia and the buildings are in Malaysia, not China.
How absolutely weird.
Absolutely very strange indeed. Apparently there's not very many people who live there. Something like that situation would definitely give me the creeps.
So bizarre! Crazy… strange vibe also. Thank you for the vlog! I’d take a look at the chart of the moment when the agreement about building the city was signed up or its official “birthday”. Something obviously was off there. Unless that was the plan 🤔