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A year ago, IT engineer Nazmi Hanafiah excitedly moved into ‘Forest City’, a residential complex built by a Chinese real estate group at the tip of South Malaysia. Hanafiah rented a one-room apartment with a view of the sea.
But after six months he had had more than enough, he tells the BBC. He didn’t want to live in a ghost town anymore. “I didn’t care about my down payment or the money. I just had to get out,” he tells the British broadcaster. “It’s lonely here – just you and your thoughts.”
Only about 1 percent occupied
The Chinese investors had a dream with ‘Forest City’ in 2016: the $100 billion project had to attract a million people. It was envisioned as an eco-friendly metropolis, complete with a golf course, water park, offices, bars and restaurants.
Eight years later, “Forest Cit” is a somber reminder of China’s failed real estate boom. Only about 15 percent of the project has been built and only one percent is occupied, the BBC writes.
The project was especially interesting for wealthy Chinese who could buy a second home that they could then rent to, for example, Malaysians for whom the purchase price was too high.
“It’s scary here”
But the remote location has put off many potential tenants. In the newly built shopping center, many shops are empty, a children’s train runs endlessly in circles and the nearby beach is deserted. “Honestly, it’s scary,” says Nazmi Hanafiah. “I had high hopes for this place, but there is nothing to do here.”
He never wants to go back. «Next time I will be more careful when I choose something. Now I have my life back – and I am happy.” (neo)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
