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29

Mahathir Bans Foreigners From $100 Billion Property Project

By Tony Seruga

Malaysia won’t grant visas to project buyers to live there
China’s capital control curbed sales at project near Singapore

Malaysian Prime Minister Mahathir Mohamad said foreigners won’t be allowed to buy property at Country Garden Holdings Co.’s $100 billion project, or be granted visas to live there.

The Forest City project near Singapore had targeted buyers from China for its mixed-residential development, as well as investors from Indonesia, Thailand and Dubai. Malaysia’s My Second Home program allows wealthy foreigners to live in the Southeast Asian nation on a long-stay visa, with Chinese nationals being the largest group of participants…

Mahathir Bans Foreigners From $100 Billion Property Project

Categories : Commercial Real Estate

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