80 per cent of the commercial units of Johor's mega development project, Forest City, have been sold within an hour of the property's sales gallery launch.

More than 60 per cent of the commercial unit buyers were local Malaysians and Singaporeans while the rest were international buyers, New Straits Times reported, citing Country Garden, the real estate company that developed Forest City.

Demand at three times capacity

A spokesperson from Country Garden said that this was the first commercial unit sale conducted by Forest City.

He added that the applications received for the development's commercial units were three times more than available units.

Country Garden also received enquiries for residential units, sub-sales, and rental procedures.

The company said that Forest City's duty-free status and the upcoming Johor-Singapore special economic zone have increased local buyers' interest.

Forest City

Forest City is a mega development project located on reclaimed land in the south of Johor, near the Second Link bridge between the Malaysian state and Singapore.

It has encountered numerous troubles in recent years, with low take-up rates, many disappointed investors, and the project largely sitting empty in recent years.

The project enjoys the backing of the Johor and federal governments, with the implementation of a duty-free zone within the development being one tool used to try to increase its popularity.

The development has 10 duty-free stores which are allowed to sell alcoholic beverages, cigarettes, and chocolates in limited quantities to visitors and residents of Forest City.

Top image via Forest City 森林城市/Facebook