At the southern tip of Malaysia, there is a cluster of high-rise buildings built to house tens of thousands of people in luxury condominiums overlooking the sea. Nearly a decade after Chinese real estate giant Country Garden began building this enclave, it has become… Almost completely vacant.
Some people are very interested in it now: Country Garden International Creditors.
The $100 billion development called Forest City, which was supposed to be the company’s dazzling showpiece abroad, has instead become a development project. Objective of creditors Where the developer is showing signs of financial distress.