China's property developer woes extend to Malaysia | DW News

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  • เผยแพร่เมื่อ 28 พ.ย. 2023
  • The financial woes of Chinese property developer Country Garden have raised concerns about China's housing sector and its economy as a whole. But anxiety about Country Garden's troubles stretch beyond China's borders. In Malaysia, there are worries that the developer will abandon a major unfinished building project. DW's Georg Matthes reports.
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ความคิดเห็น • 500

  • @mdnajmi71
    @mdnajmi71 5 หลายเดือนก่อน +136

    this project is for mainland chinese first, then singaporeans. the units are sold but their owners are trapped in China. new policy made it much harder for chinese to take their money out of China. thats why the uncle, a malaysian bought his unit from a chinese investor. its empty because malaysians was never the target buyers.

    • @wavemaker2077
      @wavemaker2077 5 หลายเดือนก่อน +35

      The Malaysians also cannot afford them.

    • @serena-yu
      @serena-yu 5 หลายเดือนก่อน +17

      @@wavemaker2077 The seller promised permanent residency for all buyers, but that was only a lie.

    • @shukriramlee
      @shukriramlee 5 หลายเดือนก่อน +4

      @@wavemaker2077 Malaysian can afford the house but most of them prefer landed house (there is a tax relief and discount for citizen buyer as well). The flats are only for the poor according to Malaysian pov.

    • @siewheilou399
      @siewheilou399 5 หลายเดือนก่อน +3

      Not for Singaporeans, the sales pitch was easy access to Singapore, like a 10 minute drive to Singapore and back.

    • @serena-yu
      @serena-yu 5 หลายเดือนก่อน

      @@siewheilou399 10 minutes by boat, but a car has to follow the highway. It will first drive towards inland Malaysia for 10 min, and come back through Second Link and the overcrowded border control. Just plot it on Google maps, and you will find it takes at least 30min, some times 1 hour.

  • @ChenAnPin
    @ChenAnPin 5 หลายเดือนก่อน +112

    Homes without people vs people without homes

    • @ModernHeaven
      @ModernHeaven 5 หลายเดือนก่อน +6

      You could say that if there were a lot of homeless people on the street.

    • @DonTrumpF2024ever
      @DonTrumpF2024ever 5 หลายเดือนก่อน

      ⚠ in the USA we don't build homes... WE BUILD TENT CITIES! TENTS AND CARDBOARD BOXES ARE GOING UP IN VALUE 🤣😂. Which is MADE IN CHINA!

    • @youarebeingtrolled6954
      @youarebeingtrolled6954 5 หลายเดือนก่อน +2

      @@ModernHeavenhes talkin bout america😂

  • @geminiecricket4798
    @geminiecricket4798 5 หลายเดือนก่อน +31

    those buildings look like prisons

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Yep and full of fungus . Some thing that D W can t see or is this another trap to get people to but it and D W is in on the rip off

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      你看起来是流浪汉。

    • @hasinabegum1038
      @hasinabegum1038 5 หลายเดือนก่อน +3

      Why?

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Why what@@hasinabegum1038

    • @jeanwong647
      @jeanwong647 5 หลายเดือนก่อน +2

      Vertical prison with people packed in like sardines.

  • @disky01
    @disky01 5 หลายเดือนก่อน +33

    Crocodiles at the beach? Doesn't that kind of kill the enjoyment of beachfront property?

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน +10

      Wait till you see the mold , fungus and oh can any one say liquid faction from being built on SAND !

    • @mondocjenson-dy8zd
      @mondocjenson-dy8zd หลายเดือนก่อน

      Kind of bites 🐊 into profits 🙄

  • @bullshoalsblues
    @bullshoalsblues 5 หลายเดือนก่อน +134

    Humanity doesn't suffer from any shortage, save intelligent management. How ironic that millions live in crowded squalor while places like this go unused.

    • @ModernHeaven
      @ModernHeaven 5 หลายเดือนก่อน +7

      Yes, China has millions of people living in crowded slums.
      Seriously, this is China over-building houses, leading to oversupply, no need for ironic thing.

    • @marcobelli6856
      @marcobelli6856 5 หลายเดือนก่อน +9

      @@ModernHeaveneven in the west . Some people Are poor but the have empty skyscrapers. It’s just greed. We habe more House than people in the world. But 1% own it all

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน +1

      @@marcobelli6856😂😂😂😂😂

    • @Coppikon
      @Coppikon 5 หลายเดือนก่อน

      @@ModernHeaven there is a lot of need, the problem is elsewhere

    • @mildew44
      @mildew44 5 หลายเดือนก่อน +2

      This is normal in the world. It's similar to when farmers or wholesalers dump food in the ocean or incinerate them rather than give away to the hungry. Money rules the world. Only rich people say otherwise.

  • @yeoedwin1619
    @yeoedwin1619 5 หลายเดือนก่อน +97

    The problem in Malaysia is mainly poor city and transport planning, without consideration of public transport like Subway, commuters, tram, railway and even bus service. The government is just taking people for granted, assuming everyone to buy a national car like Proton and Perodua, causing more traffic problems.

    • @ytn00b3
      @ytn00b3 5 หลายเดือนก่อน +2

      with many islands and country divided into two major island make it hard to build up effective transport, and infrastructure requires big investment and it's hard for Malaysia when even the country has small GDP as well.

    • @l_ifeefi_l1998
      @l_ifeefi_l1998 5 หลายเดือนก่อน +2

      Wat!!! This development is meant for the rich china ppl. U think they will take public transport???

    • @chlorophyll6154
      @chlorophyll6154 5 หลายเดือนก่อน

      Cukai kereta aje nk mampus cekik darah, hahaha 😂😂

    • @Spit.M80
      @Spit.M80 5 หลายเดือนก่อน

      Not with forest city tho

    • @j2h226
      @j2h226 5 หลายเดือนก่อน +1

      @@l_ifeefi_l1998 That's the problem. The developer thinks it can get a few hundred thousand China ppl to buy while pricing out the locals. Malaysians are right to not want this project.

  • @bec5250
    @bec5250 5 หลายเดือนก่อน +101

    In a world of increasing homelessness and millions of displaced people, we have empty mega-cities.

    • @DK-ev9dg
      @DK-ev9dg 5 หลายเดือนก่อน

      West hates China for this because west has made owning a house in big cities a status symbols and society have been devided into haves and have nots while in China, to have roof over your head is your human right, to have safety is your human right, to have cleanliness around you is your human right, to have good reliable convenient transportation is your human right but in the west everything is opposite. You are measured by your credit score and status. The millions homeless and poor have unfortunately bad credit. Nobody gives them chance to have roof over their head and allowed to have 2nd shot at life. In China if you are struggling in the city to settle, you can always go to your village back and there is decent house waiting for you. And there are millions vacant in the countryside too.

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน +5

      你是哪里?美国芝加哥还是底特律的铁锈区,还是乌克兰的战争区。

    • @Whatever-mq7vy
      @Whatever-mq7vy 5 หลายเดือนก่อน +1

      Well, if they have money, they can buy it… 🙈

    • @DK-ev9dg
      @DK-ev9dg 5 หลายเดือนก่อน +1

      @@Whatever-mq7vy they own the homes in China 85%. But not the land.

    • @jonr6680
      @jonr6680 5 หลายเดือนก่อน

      Meta - My virtually identical comment was earlier than this one yet I got no upvotes. Starting to make me paranoid...

  • @walkingstick6655
    @walkingstick6655 5 หลายเดือนก่อน +88

    One hundred billion dollars.
    This reminds me of the recent buildings that have gone up in Manhattan. Most or all units purchased, very few occupied, as they seem to be investments. But it differs because they are surrounded by oodles of shopping, dining, businesses, etc.
    These developments like Malaysia seem to be very wrong-headed in that they seemed to be driven simply by a population needing housing, like in China, and/or a desire to build housing just to sell as shelter , to presumably, people with enough money to live there. The counter level of, well, stupidity, would be to build 80 Home Depots two blocks from each other. To be successful, everything has to coexist within a cohesive and, hopefully, complete system.
    Absolute follies.

    • @arfajob4246
      @arfajob4246 5 หลายเดือนก่อน +4

      Imagine if Country Garden stuck to growing vegetables? The world needs food producers.

    • @jkardez4794
      @jkardez4794 5 หลายเดือนก่อน +3

      Chinese folly ...

    • @DonTrumpF2024ever
      @DonTrumpF2024ever 5 หลายเดือนก่อน

      ⚠ in the USA we don't build homes... WE BUILD TENTS! TENTS AND CARDBOARD BOXES ARE GOING UP IN VALUE 🤣😂. Which is MADE IN CHINA!

    • @noraarelee3863
      @noraarelee3863 5 หลายเดือนก่อน +5

      the reason why it is abandoned is because they only selling it to foreign buyer….local malaysian not eligible to buy the house….

    • @bubshab
      @bubshab 5 หลายเดือนก่อน +1

      Same situation in Sydney

  • @shr6482
    @shr6482 5 หลายเดือนก่อน +17

    It's always funny to find people who think cities can be built to a "finished state" and sell a "lifestyle". A lot of mega developers really have no idea how a city works as an organism.

  • @user-fw5pk5qp3q
    @user-fw5pk5qp3q 5 หลายเดือนก่อน +30

    The buildings are so tall it reminds me of the old news about the buildings in china before that easily collapsed

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      lololol D W news forgot to mention this

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      地球太靠近太阳容易把你烤熟,赶紧移民其他星球。😂

    • @cocaineminor4420
      @cocaineminor4420 5 หลายเดือนก่อน

      Easily collapse
      Eh hello you obviously never stayed in one how you know if it will collapse?

    • @walterwong7744
      @walterwong7744 5 หลายเดือนก่อน

      ​@@cocaineminor4420it is built in UNSETTLED RECLAIM LAND that only allow to strengthen for 2 to 3 years instead of 10 years, so do u think it won't sink?? 😂😂😂

    • @user-fw5pk5qp3q
      @user-fw5pk5qp3q 5 หลายเดือนก่อน

      @@cocaineminor4420 I guess it depends on the company, Bejing's 9 story building that collapse in 2022 did only kill 54 people , atleast it didn't get to a hundred and Malaysia don't have any corruption problems so I guess everything there will be fine 😊 but it's kinda expensive that only Successful billionaires can afford to occupy it so ... I don't think it will attract that much costumers😓

  • @C.J.M..
    @C.J.M.. 5 หลายเดือนก่อน +11

    I live in Singapore and play golf there. Two brilliant courses. It’s pretty empty though.

    • @badnotgood
      @badnotgood 5 หลายเดือนก่อน +1

      Do you consider to buy any properties there?

  • @jamesalias595
    @jamesalias595 5 หลายเดือนก่อน +14

    Chinese property developers never look at a population pyramid before starting new construction and neither do their investors.

  • @wavemaker2077
    @wavemaker2077 5 หลายเดือนก่อน +54

    They built a lot of residential buildings but I'm surprised that they didn't even think of building a mall. A mall is very important to attract people into the area. There should also be schools, hospitals and possibly churches to complete the ecosystem of a functioning community.

    • @alvinyong4071
      @alvinyong4071 5 หลายเดือนก่อน +15

      Off course they do have those..

    • @walterwong7744
      @walterwong7744 5 หลายเดือนก่อน +8

      They do have a huge mall linking all the residential buildings, but just that no retail shops are rented due to no residents there. Would u rent or buy a retail space when u see no customers come to shop or dine? 😂😂😂 this place is dead as the buildings are too high and condensely build side by side, only people from china is able to tolerate such stress feeling of window were to face a huge mountain just beside u. And in the first place, this whole development was aimed to migrate thousands of weathly chinese buyers with the PROMISE by the past government that buyers are able to get Permanent Residency if thry buy here,which was later revoked! Causing all the chinese buyers not able to migrate over n ended up this way. Singaporeans wont buy this project at all becos its a sure lose investment too. And there are so many better projects located in better location n cheaper in johor.

    • @tanalson
      @tanalson 5 หลายเดือนก่อน

      Move a prestigious school to that area. That way there will be buyers to move to that area. This is how singapore increase property value of less well known locations

    • @Messerchmitt11B
      @Messerchmitt11B 5 หลายเดือนก่อน +1

      @@tanalson A prestigious school isn't gonna cut it if there are not enough students in the area nor teachers willing to move to teach there.

    • @tanalson
      @tanalson 5 หลายเดือนก่อน +1

      @@Messerchmitt11B you don't understand how property owners think. We are talking about very popular and prestigious schools (eg: Stanford university, Harford university, oxford university). Most parents are willing to move to a new area as long as there's a prestigious and popular school nearby(provided their kids does well academically) As long as that city has most of the amenities for daily activities (like bus interchange, mrt station, hospital, banks, office building, warehouses, factories) , there should be a decent amount of people willing to buy the property.

  • @lamars2486
    @lamars2486 5 หลายเดือนก่อน +13

    MONEY LAUNDERING AT ITS FINEST

  • @jjmmat133
    @jjmmat133 5 หลายเดือนก่อน +23

    Ghost city after ghost city. In China, I saw a video of thousands of empty apartment. however in this case there's a silver lining, people actually bought the unit they just don't Live there.
    Sadly this project might not see it's completion because Country Garden it's developer is in huge debt.

    • @IamHandsome4u
      @IamHandsome4u 5 หลายเดือนก่อน +4

      Those ghost town is just for initial period, after some years people do come and live there.

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      When the planet is empty then we all have joined X

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      @@FoodForestPermaculture你还是回到你妈妈的子宫里去,不适合生活在地球上😂😂😂

    • @jkardez4794
      @jkardez4794 5 หลายเดือนก่อน +2

      Most of it is simply for investment ; most of the owners stay elsewhere.

    • @tda7294
      @tda7294 5 หลายเดือนก่อน +1

      ​@@IamHandsome4uyeah you are right. The Chinese real estate developers are ready to trade a property for watermelon.

  • @LeeSuKwang-ol5oy
    @LeeSuKwang-ol5oy 5 หลายเดือนก่อน +6

    Policies from china and Malaysia including COVID had made it difficult for the project to succeed.

  • @nzs316
    @nzs316 5 หลายเดือนก่อน +57

    Chinas financial house of cards is showing cracks.

    • @IamHandsome4u
      @IamHandsome4u 5 หลายเดือนก่อน +4

      Just like NY parking garage collapse.

    • @biocular
      @biocular 5 หลายเดือนก่อน +4

      @@IamHandsome4u Nothing compared to when Three Gorges collapses.

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      赶紧,需要你的拯救,麻烦转钱给我😂😂😂😂

    • @IamHandsome4u
      @IamHandsome4u 5 หลายเดือนก่อน +2

      @@biocular u bots hv been dreaming abt its collapse since the day it started, LOL, unfortunately it hasn't nor it will.🤣🤣

    • @goolooggg9005
      @goolooggg9005 5 หลายเดือนก่อน

      Never ending western stupidities 😂

  • @pushslice
    @pushslice 5 หลายเดือนก่อน +29

    In Manila, we recently barely escaped similar fate ; actually, it would have been worse: the paving-over of Manila Bay, for several large PRC-built reclaimed islands, to be filled with towering condos for more mainlander influx.
    The work already started 2 years ago, but was halted after the new president took over. Most Filipinos didn’t even realize it was happening; our former president was complicit in fast-tracking it with his comrades /handlers, with eyes to overrun our country. And It was set to become an ecological disaster; Manila Bay is the critical “lungs” of 12 million in the Capital region, and as it is, is already straining under the effects of sea level rise, and pollution. It needs to be protected.

    • @rm_alfaro
      @rm_alfaro 5 หลายเดือนก่อน +5

      You haven't heard the news yet? Lol! President Marcos has already given the approval and go signal for the resumption of 2 reclamation projects in Manila Bay. These reclamation projects are not owned by China though but by SM Prime Holdings of the SM Group and Ulticon Builders from Davao. DENR Secretary Maria Antonia Loyzaga said the two reclamation projects in Pasay were able to comply with the DENR requirements.

    • @tossancuyota7848
      @tossancuyota7848 5 หลายเดือนก่อน

      the main reason they wanna built high rise building in there is cause those things doesnt go under the sea when there's storms or high tides ,,

    • @onyxriver
      @onyxriver 5 หลายเดือนก่อน +5

      Manila bay reclamation is different as it's within the metro area. Forest city is in an island, far from from developments and city center. After the new Manila reclamations are built, it will be a lively area similar to the reclaimed SM MOA area, Aseana and the CCP Complex.

    • @alma09876
      @alma09876 5 หลายเดือนก่อน +4

      Wrong info. The investors there are from Hong-Kong and Macau who are very keen to develop the Manila bay area as the next tourism destination to boost the local economy. They are in joint venture with local company, the SM prime group. If proper engineering studies are done, there is no problem about the development of the area.

    • @pushslice
      @pushslice 5 หลายเดือนก่อน

      Ahhh yes, no surprises ….the PRC-fellating gaslighters have arrived in this thread . Hayyyy…
      Heavy Dredging work the past 2 years towards Manila Bay’s paving-over has been done by CCCC; the one and the same state-controlled company that has also been building islands in the middle of the West Philippine Sea for the PLA’s bases. FACTS. they are a national security threat.
      It’s sad that amid constant maritime military aggressions to our nation’s sovereignty by the PLA, we had already waived-thru & allowed more direct invasions ….right on our shores. And in our delicate, irreplaceable Manila Bay, no less.
      *and yes, the Filipino-company development co-ties are absolutely complicit as well. They shouldn’t get a pass either for trying to turn our Bay into a concrete parking lot for more overstaying POGO racketeers . They will remain unscathed, however. That’s the Filipino way with oligarchs.
      (our dear former President who sold us out to his comrades, hopefully will not remain unscathed. Term limits thankfully stopped further damage to the country…and the ICC will possibly soon remind him that karma does come around..)

  • @trivatha
    @trivatha 5 หลายเดือนก่อน +5

    They should build a railway line or at least a BRT line connected from this community to Singapore railway system which just in the other side of the river if they want attract people come to live there. Without advanced public transport connection, no one move in there. Trust me.

  • @acheable
    @acheable 5 หลายเดือนก่อน +2

    Initial Phase 1 & 2 3Br units were launched ard RM $1,200 sq ft a new premium benchmark for Johor apartment. Despite the high price 20,000 units were sold mainly to foreigners. Obviously if the pricing is adjusted down for the rest of the phases in tantum with removal of all restrictions on foreign purchase due to toxic politics coupled with units completed in a moveable conditions, all the units plus the houses will be sold in no time. Its location is ideal as planned with a future MRT link to JB ETS Bukit Chagar Stn. Thus the question is still about pricing to sell.

  • @tossancuyota7848
    @tossancuyota7848 5 หลายเดือนก่อน +1

    bro this buildings lookin awesome AF NGL but the problem is the CG's image

  • @d.c.484
    @d.c.484 5 หลายเดือนก่อน +3

    If they sell those units low enough for sure there will be buyers.

  • @user-lo9fi3up2b
    @user-lo9fi3up2b 5 หลายเดือนก่อน +5

    I knew this city won't be successful ten years ago when it was just a plan after visiting property fair in KL, because Johor city has low occupancy rate..
    When I visited Johor Bahru I noticed that the city's residents are moving to Kuala Lumpur and Singapore to work and live where there's more opportunities.. if you go to Johor city you can notice that many shops are close and there's less people in the city compared to what the buildings can occupy.. the city become active during the weekend because of Singaporean shoppers but still not enough to make the city busy with traffic and shoppers, and some Singaporean shoppers now take the train or car direct to Kuala Lumpur for the weekends.
    They planned to build the city for Chinese investors and Singaporeans who can't afford to buy such properties with prices in Singapore so they could work in Singapore and live in Johor, but after Mahathir Mohamad were against giving PR to Chinese and foreigners own properties in the city, the city faced less demand. Add to that Covid Pandemic.. and most Malaysians prefer to live near work.. so what's left is retirees but how they're going to live there if there's no good health care and active lifestyle..

    • @ae101rulez
      @ae101rulez 4 หลายเดือนก่อน

      Lol u are so right. Weekend u see all crowding at foodie or shopping mall Nia. Those Johor working Sg rush back home and hide inside Johor..all the rented units there is either u really2 outstation or because you asal from Johor state like mersing, batu pahat which is too far to travel daily into Sg. Coming from an experience of a worker who weekly travel back KL-sg

  • @TheBenny2004
    @TheBenny2004 5 หลายเดือนก่อน +12

    700,000 people living in cages, planting some trees to look like environmentally friendly, I would prefer a wooden house in the countryside

    • @morganretard706
      @morganretard706 5 หลายเดือนก่อน +1

      thats it ...its more like natural and make more sense

    • @CyclingSteve
      @CyclingSteve 5 หลายเดือนก่อน +5

      Imagine how much countryside would be needed for so many homes. Then add on the car journeys for work, food and so on, that's how you wipe out the countryside.

  • @maggotman2024
    @maggotman2024 5 หลายเดือนก่อน +9

    Chinese manic property construction is on display. Vacant properties such as this do not age well especially in very humid conditions. Mold and decay likely to choke much of the so-called city.

  • @SK-fi1tf
    @SK-fi1tf 5 หลายเดือนก่อน +2

    Over development is a major issue..

  • @louisphua607
    @louisphua607 5 หลายเดือนก่อน +2

    The previous owners is thanking Mr lim massively for relieving them of a huge burden😅. They finally pass the land mine to another person.

  • @diahnurhayati7306
    @diahnurhayati7306 5 หลายเดือนก่อน

    I hope it’s not happening in my city Batam. Because I saw tall apartment, but only few really occupied. But they still build another building.

  • @joejoe6136
    @joejoe6136 5 หลายเดือนก่อน +1

    I just passby there through 2nd link to Singapore at night, about 60% of the unit have lights .

    • @badjoke2880
      @badjoke2880 หลายเดือนก่อน

      thats ghosts😂

  • @badnotgood
    @badnotgood 5 หลายเดือนก่อน +12

    That's what you get when you build houses only for the riches. Those housing prices are really expensive. Most locals can't afford it.😅

  • @1pasupaty
    @1pasupaty 5 หลายเดือนก่อน +2

    I'd don't think it'll go unused. Maybe a lull of few years but such nice construction cnt be go unused.many will come once project comke

  • @fjdkfdfjdf33
    @fjdkfdfjdf33 5 หลายเดือนก่อน +18

    Doesn't look pleasant at all. Have to wonder about the construction standards. This project reeks corruption

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน +1

      Yay a smart earthling . Oh you are on a list to be monitored by the Chinese police stations

    • @bck481
      @bck481 5 หลายเดือนก่อน +2

      It looks like something out of the soviet Union, couldn't pay me to live there, quarter of that price and am in the Highlands of Scotland, mountain air, rivers and forests,

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      政治现金合法就没有贪污……西方政客最喜欢。

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      @@FoodForestPermaculture辛苦你了机器号

    • @shukriramlee
      @shukriramlee 5 หลายเดือนก่อน

      Corruption is the best word and vocab you can find to make your comment look interesting.

  • @PinkyKiller19
    @PinkyKiller19 5 หลายเดือนก่อน +10

    这样的鬼城在中国有成千上万个,你们别太惊讶,马来西亚的这个只是其中一个

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Oh look a home for the crooked from all over the world to live !

  • @RaviKumar-op7zj
    @RaviKumar-op7zj 5 หลายเดือนก่อน +1

    I too want to go and live there

  • @rodalonso7805
    @rodalonso7805 5 หลายเดือนก่อน +4

    Everything should be Inspected. More Tofu buildings? Not exactly looking tsunami proof 🤔🤔🤔🤔

  • @luanvoable
    @luanvoable 5 หลายเดือนก่อน +2

    Not just waste hundreds of billion dollars, but waste a lot of raw materials.

  • @goodguyaus
    @goodguyaus 5 หลายเดือนก่อน +1

    Kudos, DW, a much more balanced report than the BBC one.

  • @jaypetz
    @jaypetz 5 หลายเดือนก่อน +2

    Is it affordable for locals o.o just looking at it gives me the vibe that I would be bankrupt.

  • @keithspainjr7669
    @keithspainjr7669 5 หลายเดือนก่อน +7

    I would like to Live there..

    • @lawrencekling8598
      @lawrencekling8598 5 หลายเดือนก่อน

      Would you like to live in the dictatorship country?

    • @Ex-Muslim334
      @Ex-Muslim334 5 หลายเดือนก่อน +8

      ​@@lawrencekling8598what

    • @user-zp6dz9jw3g
      @user-zp6dz9jw3g 5 หลายเดือนก่อน

      @@lawrencekling8598有什么问题😂😂😂中国人民吃的好,穿的好,住的好……还需你来解释他们过的好坏?

    • @hasinabegum1038
      @hasinabegum1038 5 หลายเดือนก่อน +2

      ​@@lawrencekling8598Malaysia is a democracy

    • @unknown7042
      @unknown7042 5 หลายเดือนก่อน +1

      @@hasinabegum1038 he means China maybe.

  • @gnoishcnshcha3160
    @gnoishcnshcha3160 5 หลายเดือนก่อน +8

    This is not a real estates project, no one will spend so much money without proper planning .

  • @GoldSpot-pf1yb
    @GoldSpot-pf1yb 5 หลายเดือนก่อน +1

    They can build a road bridge to Singapore and then things will improve.

  • @hailyrizzo5428
    @hailyrizzo5428 5 หลายเดือนก่อน +7

    The primary and maybe the only selling point for this project is it's close proximity to Singapore. Singapore is one of the most expensive real estate in the world. They were hoping for some trickle down effect from people that has some connection to Singapore, whether for work, business, education, family or otherwise with Singapore. But unless you get a super accessible transportation link with Singapore, it's going to be just another Johor Bahru property. The target market were of course, Chinese buyers but they seem unable to get their money out or even themselves out of China. If they make a better transport system to get in and out of Singapore and switch the ownership to others besides Chinese, it could end up being a success story after all. But Country Garden's woes is a potential game ender because you need funds to maintain that entire çity. If the funds run out, the whole place will collapse into a dystopian nightmare not unlike those apocalyptic end of the world movie plots you see. It will become the world's most expensive slum or movie set, depending on how you see it.

  • @SohailSaleem
    @SohailSaleem 5 หลายเดือนก่อน +2

    looks like a nice place to live.

  • @Rias-Gremory-a-gamer
    @Rias-Gremory-a-gamer 5 หลายเดือนก่อน +33

    I live in Australia w.a to be honest it looks very nice place to live. Sadly i had never heard of it and i am disability pensioner so i couldn't leave to live there but would be willing to maybe if i could. I think if you used more green energy it would defiantly appealing to more people if your not already that is.

    • @jadoei13
      @jadoei13 5 หลายเดือนก่อน +6

      I'd give it a few years to see what their building standards were. Not sure what they are like these days, but some of the stuff build a decade or two ago wasn't of the highest quality.

    • @cainlaxeus06112
      @cainlaxeus06112 5 หลายเดือนก่อน

      ​@@jadoei13 If you watch any videos which feature infrastructures in China, it's often called the "tofu construction". But I guess since the whole project is outside of China, they are obligated to follow building regulations in Malaysia. However, in my honest opinion, I won't trust anything that the Chinese people built, especially when they're known to thrift materials just so they won't lose so much money for their projects.

    • @oOEFESOo
      @oOEFESOo 5 หลายเดือนก่อน

      still is

    • @CrossbredmiMiyang
      @CrossbredmiMiyang 5 หลายเดือนก่อน +7

      You should visit and see with your naked eyes about this projects , imagine Chinese developers going on bankruptcy, a corrupted local government and misleading advertising leads to a phase one completed apartments in chaos upon obtaining the keys and later found out no one ones to live in there and the rent for each apartment sizes on average 900 sqft or 83sqm only as low as 250USD . Its a steal of the century to be honest and if you doesn’t mind the inconvenience.

    • @DonTrumpF2024ever
      @DonTrumpF2024ever 5 หลายเดือนก่อน

      ⚠ in the USA we don't build homes... WE BUILD TENT CITIES! TENTS AND CARDBOARD BOXES ARE GOING UP IN VALUE 🤣😂. Which is MADE IN CHINA!

  • @whitefang924
    @whitefang924 3 หลายเดือนก่อน

    Im Malaysian and i feel sorry for anyone who bought houses there.Not often you see mega developments end up in a financial sinkhole.

  • @GoldSpot-pf1yb
    @GoldSpot-pf1yb 5 หลายเดือนก่อน +1

    But where will they get water for 700,000?

  • @byssmal
    @byssmal 5 หลายเดือนก่อน

    Luxurious and expensive.

  • @DanielleA2023
    @DanielleA2023 5 หลายเดือนก่อน +4

    The arrogance and incompetence and Greed of right governments

  • @MagnateXL
    @MagnateXL 5 หลายเดือนก่อน

    is game over, most people don't see it yet

  • @siewheilou399
    @siewheilou399 5 หลายเดือนก่อน

    It's been like this for years.

  • @MojoZ20
    @MojoZ20 5 หลายเดือนก่อน +8

    a majority of completed units are sold - its not an immense problem, whether or not the buyers actually stay there. Its a problem only if Country Garden built them BEFORE securing sales, then it will have unsold assets which will burden its huge financial borrowings.

    • @Rasulis
      @Rasulis 5 หลายเดือนก่อน +3

      LOL, that isn't how debt works. The company took deposits for buildings they have not even finished, billions of dollars worth, then mismanaged those funds, and now are telling the customers they are probably without their investment nor the funds they gave them; Also, they took lots of money from both shadow and main Chinese banks under the guise they were going to invest it and return it with a profit. We're talking billions and maybe trillions in supposed liquidity disappearing overnight because it was all based on supposed growth and unicorn numbers the Chinese government controlled and ran markets produce. Either way, some one pays. Either China inflates and borrows their way out of the massive economic hole they created and in the process harms their economic growth over long term by borrowing from future growth for dealing with the current meltdown; or, they let the meltdown happen, manage what they can, and then try and rebuild from the massive hole they blew in their economy with their manipulation of currencies and markets to create unrealistic and unsustainable growth.

    • @MojoZ20
      @MojoZ20 5 หลายเดือนก่อน +2

      @@Rasulis sure, my guy 🙌..u probably could have written the whole shebangs on leveraged notes & debts for LSE/Insead/NYU MBA...Im just saying this episode seems to imply that Forest City enclave is empty AND therefore, theres a big problem (and relate that to its massive debts) etc etc etc...
      and since Im quite familiar with the place, I was just pointing out that AT LEAST it was just a problem of real, physical, occupancy (ie buyers actually living in places they bought), as opposed to Country Garden having a whole bunch of unsold townships there..
      anyways cheers ✌️

  • @trowawayacc
    @trowawayacc 5 หลายเดือนก่อน +7

    Just looking at those buildings i can tell they suck.

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Oh a smart earthling . You must eat good healthy food and drink clean water . So dig your cave and tunnel as that may help you survive whats coming like a big rock from space or one of the nukes that looney ticks have

  • @srituah
    @srituah 5 หลายเดือนก่อน +3

    The special economic/ financial zone should be in Medini. Built on Real Land. ❤

  • @bigboy6191
    @bigboy6191 5 หลายเดือนก่อน

    Who's going to tell Mr Lim?

  • @Javy_Valen_Tain
    @Javy_Valen_Tain 5 หลายเดือนก่อน +1

    How much is one flat? I go living there right now.😅

  • @guyparris4871
    @guyparris4871 5 หลายเดือนก่อน +12

    Made in China!

  • @skylance25
    @skylance25 5 หลายเดือนก่อน

    Make sure its building code complient. Tofue buildings. Look it up

  • @josephnulley6808
    @josephnulley6808 5 หลายเดือนก่อน +1

    Many unfinished and empty Chinese building projects in Cambodia also .....

  • @CharlesFrank-ky8nq
    @CharlesFrank-ky8nq 5 หลายเดือนก่อน +4

    Those buildings are probably the so called "tofu dreg" and will crumble to the ground even with an Earthquake of magnitude 3

    • @inuhundchien6041
      @inuhundchien6041 5 หลายเดือนก่อน +3

      There's no such thing as an earthquake in Malaysia or Singapore

  • @wdp7128
    @wdp7128 5 หลายเดือนก่อน +1

    You missed one big part of the story. The housing project was also badly influenced by a then prime minister fearing influx of immigrants from from China.

  • @PlayMyMusicPlaylist
    @PlayMyMusicPlaylist 5 หลายเดือนก่อน

    Mixed used design is the way

  • @Lyralikesit
    @Lyralikesit 5 หลายเดือนก่อน +4

    Why is it empty exactly???

    • @Djamonja
      @Djamonja 5 หลายเดือนก่อน

      Because they built it without buyers.

    • @jandubulla-wr2gx
      @jandubulla-wr2gx 5 หลายเดือนก่อน

      Supply & Demand

    • @MrBoliao98
      @MrBoliao98 5 หลายเดือนก่อน

      ​@@Djamonjathey build it with buyers, they build it with no residents.

    • @IamHandsome4u
      @IamHandsome4u 5 หลายเดือนก่อน

      Its called planning for next 15-20 yrs, in intial period it might look like a ghost town but after some years people will start coming and a whole new society will be developed.

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Fungus trap and D W is promoting it

  • @danilordizon
    @danilordizon 5 หลายเดือนก่อน +3

    Building and building housing units without feasibility study.

    • @IamHandsome4u
      @IamHandsome4u 5 หลายเดือนก่อน +3

      Bro thinks he is the only smart person in this world.

    • @jasonlucas2328
      @jasonlucas2328 5 หลายเดือนก่อน

      Build first, and people'll come.

    • @user-xp7nk9dw8d
      @user-xp7nk9dw8d 5 หลายเดือนก่อน

      U sound really jealous

  • @rujhannalsor3638
    @rujhannalsor3638 5 หลายเดือนก่อน

    This issue willsolve if the developer ipen market for local.

  • @sonneh86
    @sonneh86 5 หลายเดือนก่อน +1

    Ah, a duty free zone, where the prices are raised to cover the taxes you don't pay, plus more

  • @alvinpostpaidcardxl
    @alvinpostpaidcardxl 5 หลายเดือนก่อน

    Oh my god .. Ghost City ..

  • @datianlongan5567
    @datianlongan5567 5 หลายเดือนก่อน

    Why can't these units be allocated to the low income and/or homeless around the world? UN should have a program to facilitate the relocation.

    • @walterwong7744
      @walterwong7744 5 หลายเดือนก่อน +1

      Hahaha. U r telling the sultan of johor to throw his billion of invested dollars into the sea. Good one! 😂😂😂 if he really agrees, malaysia might as well open up this place free for all homeless on malaysia to stay rite? But wait, who will maintain this whole place facilities? Need money to employ engineers, garderners, cleaners etc and lastly the running cost of public facilities like the pool, street lights cleaning, lifts too rite? If no one is paying all these electrical and water bills n maintenance costs...

  • @spaideman440
    @spaideman440 5 หลายเดือนก่อน +2

    another great example of simply build condos/apartment without looking at demands

  • @jeffxu6871
    @jeffxu6871 5 หลายเดือนก่อน +3

    DW: we prefer German manufactur, for example Berlin Airport/Stuttgart Train station takes 1000 years.

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Yay a smart earthling . I was feeling lonely for my planet Zoltar

  • @ForelliBoy
    @ForelliBoy 5 หลายเดือนก่อน +3

    For all you can say about how "communist/socialist" china is, a real estate crisis seems like a really capitalist problem to have

  • @paulr.2919
    @paulr.2919 5 หลายเดือนก่อน

    I have always wondered how cities in ancient times developed, prospered then vanished.
    This has been developed. It has not prospered yet so will it vanish. No not yet. 😮

  • @dksharron
    @dksharron 5 หลายเดือนก่อน +4

    And there are crocodiles on the beaches

  • @et6064
    @et6064 5 หลายเดือนก่อน +1

    Properties are not like stock market… past transactions matters and future buyers will low ball till u sink

  • @mjor6406
    @mjor6406 5 หลายเดือนก่อน +1

    It will happen in the Philippines too. Who is buying these condos that are priced for people with incomes equivalent to Americans and Canadians?

    • @richardnuevo
      @richardnuevo 5 หลายเดือนก่อน

      No it will not happen. If you are poor sorry for you

  • @dendencomendador4867
    @dendencomendador4867 5 หลายเดือนก่อน +3

    Should be ok lah... Ghost city boleh buat horror film

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      LOLOLO i am going with what you say cause it is the truth . Oh my God some one has there eyes open

  • @tariqramadan1521
    @tariqramadan1521 5 หลายเดือนก่อน +1

    The smart thing to do is appeal to western retirees who have pension rather then chinese buyers

  • @kaufengshan3798
    @kaufengshan3798 5 หลายเดือนก่อน +4

    Malaysian governmet shd confiscated this project and sold to local developer to continue re develop this city

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      oh ya the gossip from the smart earthling that acts like a parrot or maybe you do know some thing about this fungus trap

    • @badnotgood
      @badnotgood 5 หลายเดือนก่อน +1

      The price need to be lower down. Develop here and there but most people can't afford it.

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน

      Caves are the fastest way to a house @@badnotgood

    • @jasonlucas2328
      @jasonlucas2328 5 หลายเดือนก่อน +1

      It'll need a lot of money to finish it, even though it's free for any developer. Country Garden sold the units first, plus borrowed money to build this phase. Now, it needs money to maintain, plus a lot of capital to build the next phase. Who would pay first before the units are built? Now it's nobody.

    • @kaufengshan3798
      @kaufengshan3798 5 หลายเดือนก่อน

      @@jasonlucas2328 they can always devide to smaller package like 3 block for one contractor and share the projck to more contractor that is do able and more contractor can make money

  • @LC-zi8jw
    @LC-zi8jw 5 หลายเดือนก่อน

    You never know if these are tofu dreg projects, might not even be safe to live in to begin with

  • @objetivista686
    @objetivista686 5 หลายเดือนก่อน

    "environment-friendly"...

  • @arturobayangos1223
    @arturobayangos1223 5 หลายเดือนก่อน

    at least they have Tofu buildings . better than none at all .

  • @jondoh3471
    @jondoh3471 5 หลายเดือนก่อน

    That area looks like a sinking sandbox.

  • @laodesyukur
    @laodesyukur 5 หลายเดือนก่อน

    Hundred billions dollarsss are not money frankly... Very sad indeed... Malaysia, we must talk someday... 🌐❤️

    • @TheKkpop1
      @TheKkpop1 5 หลายเดือนก่อน

      Let me remind you are hyping up one or two failures. On the contrary, We welcome China property investment in my state which brings economic growth, speedy completion and lowering cost.

  • @saedondengki2957
    @saedondengki2957 5 หลายเดือนก่อน +2

    When a head of a state made billions of selling land to Chinese developer.

  • @windsong3wong828
    @windsong3wong828 5 หลายเดือนก่อน

    The golf courses are good.
    The government policies during Muhideen have changed to removed a lot of financial incentives for the Chinese people to lived there.

  • @containedhurricane
    @containedhurricane 5 หลายเดือนก่อน

    Built on an artificial island? That doesn't sound safe in a long-term

    • @jasonlucas2328
      @jasonlucas2328 5 หลายเดือนก่อน

      Even the Japanese have the technologies, and the Osaka International Airport was built on an artificial island. The airport is sinking every year.

    • @containedhurricane
      @containedhurricane 5 หลายเดือนก่อน

      @@jasonlucas2328 Scary. Maybe the same thing happens in Dubai

  • @This-is-Ravi
    @This-is-Ravi 5 หลายเดือนก่อน

    Someday someone will live there I guess.

  • @user-we8hi4yu6
    @user-we8hi4yu6 5 หลายเดือนก่อน

    how they are controlling mosquito and insect? in this buildings

  • @jamiah_alias1651
    @jamiah_alias1651 5 หลายเดือนก่อน

    Maybe the prices of the apartment/condos are too expensive... they expect singaporeans to buy... local johoreans can't afford to buy....

  • @ErenYega747
    @ErenYega747 5 หลายเดือนก่อน

    Bubbles, financial crashes, just another runaway hype-speculation trend that people with money delegate their research and due diligence to people who want to take the money, then hope to be the first to leave the bubble right before it pops

  • @azmanrahim9226
    @azmanrahim9226 5 หลายเดือนก่อน +1

    It's a stone throw from Singapore....I think its cheaper then Singapore...

    • @FoodForestPermaculture
      @FoodForestPermaculture 5 หลายเดือนก่อน +1

      Hey a fungus buyer . Can you say liquid faction !

  • @jhrsln9119
    @jhrsln9119 5 หลายเดือนก่อน

    Expensive, that’s the keyword

  • @JL-yt5hy
    @JL-yt5hy 2 หลายเดือนก่อน

    You think developers have the business hindsight to build one and see if it sells then proceed to build more if there’s more demand? It’s like they don’t care if the business makes money or not. What complete insanity. 😂

  • @paradoxward2533
    @paradoxward2533 5 หลายเดือนก่อน

    I have a feeling that round two of 2008 is on the horizon and will be 2008 on steroids......

  • @minilroy8774
    @minilroy8774 5 หลายเดือนก่อน

    100B USD is whopping..!!!

  • @AntoneJohnson-dq5gm
    @AntoneJohnson-dq5gm 5 หลายเดือนก่อน

    Nah ! If it existed in reality than the option is the opportunity for others like the estate come into existence " essential value to the property is the way of life being lived within it ! Beyond that it's established and their other opportunities to ensure modern development in others locations using this development as insurable displacement accessibility liasion for creditability area of futuristic development *

    • @walterwong7744
      @walterwong7744 5 หลายเดือนก่อน

      Actually, what are you trying to say? You use so many BIG BIG words that no one understands what are r u trying to say. Can u simply use 2 sentences in simple english to say what u want to say? 😂😂

  • @SuperZaidin
    @SuperZaidin 5 หลายเดือนก่อน

    penduduk sedikit berani bikin kota baru. inilah resikonya.

  • @kyleanuar9090
    @kyleanuar9090 5 หลายเดือนก่อน

    It was built using 100 percent Chinese workers so the quality is sus in the first place, now some these Chinese workers are 'missing' as they didn't return home when due.

  • @Pqj613
    @Pqj613 5 หลายเดือนก่อน +2

    You will see it will stay empty and will become a ghost city. It’s very common in china.

  • @tariqramadan1521
    @tariqramadan1521 5 หลายเดือนก่อน

    The problem with maylaysia is its stringent visa policy

    • @hirlintahir
      @hirlintahir 5 หลายเดือนก่อน

      If you consider the illegal immigrants staying in Malaysia and try to get subsidized item, you can rethink the reason behind all the stringent visa policy

  • @efaizariff3145
    @efaizariff3145 5 หลายเดือนก่อน

    There are many ways go keep the project and city alive. Link a bridge to Singapore and alas, hundred thousand Singaporeans will live there. Malaysia need to be smart on how to squeeze the monies out of them Singaporeans so the benefit will be for Malaysian economy.