Country Garden Forest City Collaborates with 36 Synergetic Partners to Build Future City

This will cumulatively push Forest City into becoming an economic hub that complements Iskandar Malaysia and will drive new business activities into the sustainable township. The total market value of these organizations sum up to USD$1 trillion. Nine of them, namely Huawei, Cisco, Accenture, Midea, China Construction Steel Structure Corporation, Deutsche Bank (Asia Pacific) and Bank of China (Malaysia), are listed as Fortune 500 companies.

The collaboration was made official at a signing ceremony witnessed by the Malaysian Prime Minister Najib Razak, Menteri Besar Datuk Seri Mohamed Khaled Nordin and Chinese ambassador to Malaysia Dr. Huang Huikang, at the grand opening of Forest City Phoenix Hotel today. Located on a 4.23 acre plot of land on island one of the Forest City project, this hotel, developed by Country Garden Pacificview Sdn.Bhd., is managed by Country Garden Hotel Group. With more than 50 hotel chains in China, the conglomerate is working continuously to expand its expertise by working closely with the world's leading hotel chains, such as Hilton, and intends to bring its vast experience in the hospitality industry to the Iskandar region.

Prime Minister Najib highly approved of the value and status of Forest City in promoting the economic development of Malaysia, and said that Forest City, and the State of Johor, would become new economic growth centers of Malaysia, and that the Government of Malaysia will continue to vigorously support the development of Forest City. Observers said that Country Garden promotes the development of a friendly Sino-Malaysian relationship through the power of a private enterprise.

"The project of Forest City has become a treasure of Malaysia's Iskandar and Johor," Najib said in a speech given here today, Forest City could not only enhance local industry chain value and the degree of internationalization, but also create 220,000 job opportunities." He further announced that Forest City was approved to construct a duty-free island.

When driving the settlement of international enterprises in Malaysia, Forest City has also become a bridgehead for Chinese enterprises to head for ASEAN and even the world, and become a new city for international production capacity cooperation. In a period of just over one year, Forest City has driven more than 70 Chinese enterprises to go abroad collectively, including Guangdong Changda, Huashan International, Ninefold Construction Group, and more. Xu Hongcai, deputy chief economist of the China Center for International Economic Exchanges, said that by going abroad collectively through the platform of Forest City, domestic enterprises could not only lower their costs, but also achieve win-win cooperation.

Forest City uses "production-city integration, green and wisdom" as its development outline, and the external world considers that Forest City has set up an example for future city development.

Total cumulative investment of USD$100 billion will attract returns of sufficient proportion. It is expected that Forest City will contribute tax revenue to the Malaysian government in the amount of RM 66 billion over a period of 20 years. In light of this, Forest City's project will create job opportunities in the range of 150,000 to 220,000 in various sectors. This will benefit the state and therefore the whole nation.

About Country Garden Holdings Company Limited

Country Garden, a practitioner propelling China's "New Urbanization" process and a Forbes World's Biggest 500 Public Company, has developed more than 500 high-quality projects and served over 3 million homeowners globally. It is building the first smart-eco city in the world, Forest City. Adjacent to Singapore, located in Iskandar, Malaysia, Forest City reveals the concept of multi-layered urban planning.

Listed on the Hong Kong Stock Exchange in 2007, Country Garden reached over 140 billion RMB in sales and 14 billion RMB in tax payments in 2015. The company strictly follows compliance standards and regulations.

With over 90,000 employees, Country Garden sells its properties with decorations at an average price of 6,500 RMB per square meter, which remains the lowest among the top-10 property developers in China.

About Forest City in Iskandar, Malaysia

Forest City utilizes a multi-layered urban planning concept throught the whole project design. Parks and activity spaces are scattered around the city and no vehicles traverse the grounds. Railways connect the whole city. Roads, flyovers and parking spaces are docked on the two lower floors of structures, separating pedestrians from vehicles. Forest city is a model of a future city

With plans to invest nearly USD$100 billion to create the world's most advanced smart city, we are collaborating with Cisco, Accenture and Celcom to develop the Smart City Vision. With the concept of "an integrated city", Forest City will introduce 8 key industries, namely Tourism & MICE, Healthcare, Education & Training, Regional Headquarters, Offshore Finance, E-Commerce, Emerging Technology, and Green & Smart industry. Forest City has been approved as a duty-free zone.

With rapid development of Malaysia, Johor's Iskandar stands as the new focus of major international capital investment. Since Iskandar was established in 2006, the development has entered its tenth year; it has become the fastest-growing economic corridor. Under the 11th Malaysia plan (2016-2020), Johor Bahru has been identified as a high growth city.

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SOURCE Country Garden Holdings