Forest City in Johor is in partnership with Esplanade Danga 88, an associate company of Kumpulan Prasarana Rakyat Johor (KPRJ), through a joint venture, Country Garden Pacific View (CGPV), with Country Garden holding a 60 per cent stake.
The largest shareholder of Esplanade Danga 88 is Johor’s Sultan Ibrahim Ismail, making Forest City a joint venture between Country Garden and the Johor monarch. The relationship had helped Country Garden achieve smooth communication with governments.
Forest City project will include apartments, villas, schools, hospitals, an exhibition centre and a financial special administrative region. Local industry insiders said Country Garden’s guts and speed had seen it beat many local developers. Country Garden’s fast execution is famous among Chinese developers, which led to success in home sales in China’s third- and fourth-tier cities, where demand is relatively poor.
“It’s like we are investing in Shenzhen 10 years ago,” Country Garden president Mo Bin said.
Source : http://www.scmp.com/property/international/article/1911966/country-gardens-ambition-malaysia-backed-johors-royal-family