SINGAPORE, Oct. 14, 2016 /PRNewswire/ -- Forest City has been honoured with the 2016 Frost & Sullivan Asia-Pacific New Product Innovation Leadership in Property Development Industry award.
The award was presented to Forest City at the annual Frost & Sullivan Asia-Pacific Best Practices Awards banquet, held at the Conrad Centennial Hotel in Singapore on Oct 13.
Mr. Melvin Leong, Associate Director, Energy & Environment Practice, Asia-Pacific at Frost & Sullivan said that Forest City is the most innovative property development project by Country Garden Pacificview (CGPV), which is an associated company of Country Garden Holdings, one of the leading urban master planners in the region.
"This new smart city features technologically advanced construction methodologies in reclamation and futuristic living ideas. One of Forest City's key innovations is visionary mobility that has encompassed multi-level underground car parks and roads," he added.
Mr. Leong also said that the development is expected to become a pioneer in smart living solutions whilst benefiting the region with its role in socio-economic growth. "Forest City is also a model development that promotes ecosystem balance and houses vertical greening systems and energy efficient buildings," he added.
He related that 2015 and 2016 have been a rather significant period in the Asia-Pacific property development industry. "Property developers across the region are competing fiercely with unique projects and developments that offer prospective customers value in quality and price. As a result, the industry is witnessing an increase in cross-border transactions from property buyers, building material vendors, and other participants across the property development value chain," Mr. Leong said.
He added that Country Garden Pacificview outshines others in product innovation with the launch of Forest City, an iconic smart city in the region. "This new development is constructed on advanced land reclamation in the southern Malaysian state of Johor with close proximity to Singapore," he said.
Mr. Leong noted that the infrastructure development of Forest City is a result of multi-industry convergence such as ICT, mobility, materials technology, and healthcare. The entire smart and green city will be digitally connected with smart devices, high speed internet and various modes of public transportation to and from Singapore. Forest City, upon completion, will be supported by 8 industries such as education, tourism, and medical sciences as its main economic pillars, he said.
"With the implementation of cutting edge features, Forest City, by Country Garden, is expected to set a new innovative benchmark in the property development industry," Mr. Leong said.
"We are humbly honoured that Forest City has been selected to receive such a prestigious recognition by Frost & Sullivan. Forest City is indeed the pride of Country Garden. We are glad to be the pioneer developer that incorporates vertical greening system as well as smart city design in Southeast Asia. This mega development is expected to fuel economic growth of Iskandar region, the main Southern development corridor in Johor," said Datuk Md Othman Haji Yusof, Executive Director of CGPV.
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About Country Garden Holdings Limited
Country Garden is one of China's leading integrated property developers. It has uniform operations with business comprising property development construction, installation, fitting, property management, property investment, as well as hotel development and management. In addition, Country Garden was named by the People's Republic of China State Administration for Industry and Commerce as "China's Well-Known Trademarks" in the property sector in 2006. The Group has over 20 years of experience in building large-scale townships and currently has more than 300 projects globally. Country Garden townships are known for high-quality construction, outstanding design, and state-of-the-art landscaping and five-star lifestyle facilities. Today, Country Garden is a top 10 real estate developer in China and is Forbes Top 30 listed companies in Asia.
About Forest City
The Forest City is an iconic and extensively scaled project located at Iskandar Malaysia. Adjacent to the Malaysia–Singapore Second Link, it is a joint venture development between Country Garden and Malaysian partner Esplanade Danga 88. With a committed investment of approximately RM170 billion, it is composed of four reclaimed islands enhancing the twin themes of 'integrating businesses and the city' as well as 'urban innovation'. The project aims to generate economic growth through eight key industries – tourism and meetings, incentives, conferences and exhibitions, healthcare, education and training, regional headquarters, near-shore finance, e-commerce service base in ASEAN, application of emerging innovative techniques and service centres, and sectors related to a green and smart city.
SOURCE Frost & Sullivan