China's largest property developer Country Garden unveiled Forest City — a US$100B mega-project under the Belt & Road Initiative — in Johor, Malaysia, in 2016. 8 years on, only 15% of the entire project has been built and just over 1% of the total development is occupied. Country Garden's plan was to build an eco-friendly metropolis — featuring a golf course, waterpark, offices, bars and restaurants — that would eventually be home to nearly one million people. Despite facing debts of nearly $200B, Country Garden is "optimistic" the full plan will be completed. Forest City was aimed squarely at the domestic Chinese — those in China — market, offering aspirational people the chance to own a second home abroad. Its selling prices were out of reach for most ordinary Malaysians. For 🇨🇳 buyers, the property would be an investment that could be let out to local Malaysians. bbc.com/news/business-…

@Byron_Wan China is countering Forest City setbacks with another expensive $80billions artificial port in the state of Malacca called "Huangjing" port after initial cancellation. It is resuming under current Malaysian PM: asia.nikkei.com/Business/Trans…