KUALA LUMPUR: Commercial units on Pulau Satu, Forest City have achieved 80 per cent take up rate in less than an hour from the launch at the Forest City sales gallery.
Forest City, covering 1,400 hectare of reclaimed land on four artificial islands near the border of Malaysia and Singapore, is a mega project developed by Country Garden Pacificview Sdn. Bhd., a joint venture between Country Garden Pacificview Sdn.Bhd. and Esplanade Danga 88 Sdn. Bhd.
Pulau 1, a 700-acre artificial island, is the most developed out of the four planned islands.
In July this year, five bills were passed by the Dewan Rakyat to turn Pulau Satu into a duty-free island.
Country Garden said more than 60 per cent of buyers of the commercial units were local and Singaporeans, while the others were international buyers.
Country Garden Malaysia Singapore Region brand, sales and marketing Fang Fang said in a statement this was the first commercial unit sale conducted by Forest City.
"The application received for the commercial units were triple than available units," Fang said in a statement.
Country Garden said in a statement, the island's duty-free status and the upcoming Johor-Singapore special economic zone initiative has boosted interest among local buyers.
Fang said enquiries received have been for residential units and sub-sales as well as the rental procedures.
He added that these were positive impact from Forest City rejuvenation efforts.Ends