Property
A $100 Billion Dollar City Turned Into A Ghost Town
By Stacked Homes  •  April 30, 2023
The world’s most expensive monument to overconfidence is nearer than you think… I’m talking about Forest City, a massive ghost town right across the causeway. This development is around 1,740 hectares (17.4 square kilometres), which is almost the entirety of Jurong East or apparently 4 times the size of Monaco. It was built by Country Garden (China’s largest developer) supposedly to the tune of $100 billion. But as of 2019, only 500 out of the expected 700,000+ residents were living there. I’ve had a chance to briefly visit the place, and while we can crack any number of jokes about it – the world’s most expensive horror movie set, world’s biggest bar*, condo with 100,000 sq. ft. yard – it’s also a massive problem waiting to happen. An entire almost empty neighbourhood is a ripe set-up for squatters, crime, fires, and hygiene issues. It’s a matter of time before mother nature beats the scant maintenance staff, and the vermin start to move in…and given Malaysia’s reputation for...
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By Stacked Homes
The Stacked Homes editorial began in February 2017 to provide the latest news and analysis on property in Singapore.
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