The Forest City project is a towering reminder of some of the core problems that have taken down China’s once-booming property sector—high borrowing and overbuilding, mixed with a streak of bad luck
China’s Country Garden had big ambitions for its luxury Malaysian high rises. But nearly a decade after ground broke, the development sits empty and unfinished—and is often called a ‘ghost city.’Sept. 21, 2023On the southern tip of peninsular Malaysia, a cluster of high rises built to house tens of thousands of people in luxury condominiums overlooks the sea.
The property, meant to be the company’s flashy overseas showpiece, has instead become a target of creditors as the developer shows signs of financial distress. The Forest City project is a towering reminder of some of the core problems that have taken down China’s once-booming property market—high borrowing and overbuilding, mixed with a streak of bad luck.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Take the Plunge: This Bestselling Ice Bath Is on Sale for Under $100Ready to take the plunge? Here’s what you should know about cold-water therapy and ice baths.
Read more »
Pump prices hit 2023 high as a barrel of crude marches toward $100At a time of year drivers expect to see some gas price relief following the end of the summer vacation season, prices at the pumps across the U.S. just hit a high for the year and further increases may be in store.
Read more »
Save $100 on the world-class Garmin Enduro 2 running watch at AmazonThe Garmin Enduro 2 adventure watch has been reduced by $100 at Amazon, perfect if you're looking for masses of features and super-long battery life.
Read more »
Oil price will not move past $100 on a sustained basis over the next 12 monthsThe price of Brent Crude has reached $95/bbl, the highest level since November 2022. Economists at UBS analyze Oil’s outlook. Strong fundamentals will
Read more »
Goldman raises international oil price forecast to $100 a barrelThe firm believes OPEC's supply cuts will sustain prices in a range between $80 and $105 in 2024.
Read more »
Kanye West Gives Homeless Man $100, Promises to Send Him Free YeezysKanye West gives homeless man in Chicago $100 and promises to send him a free pair of Yeezy shoes.
Read more »