12 Apr '17, 12pm

New post added at LushHomeMedia - Fewer than 60 China buyers want to withdraw from Forest City: Country Garden

Despite the temporary closure of China showrooms promoting the massive Forest City project planned in Malaysia last month, fewer than 60 buyers in China have asked about cancelling their bookings, Chinese developer Country Garden Holdings (CGH) said on Thursday (Apr 6). The company said it sold more than 15,000 residential units under the project last year. Chinese nationals accounted for 70 per cent of its buyers for the 18 billion yuan (US$2.61 billion) worth of apartments, it previously stated. The developer shut its sales galleries in China for the multi-billion dollar project in Malaysia’s ambitious Iskandar special economic zone from Mar 13 “to better fit with current foreign exchange policies and regulations” and as the firm looked to diversify its development strategy. The temporary closure of the showrooms meant that mainland Chinese buyers interested in the Fores...

Full article: http://www.lushhomemedia.com/manage_posts/2017/04/12/fewe...

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Penalty clause adds to woes of Forest City’s Chinese buyers https://t.co/yEq4dvgyv4

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todayonline.com 02 Apr '17, 6am

SINGAPORE — Chinese buyers of homes at the Forest City megaproject in Johor who cannot proceed with their purchases after ...