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Malaysia in transition

Mahathir foreign-ownership ban rattles $100bn China-led project

Developer Country Garden says Forest City development complies with all laws

Prospective buyers look at a model of the $100 billion Forest City development at a showroom in Johor Bahru, Malaysia, in February 2017.    © Reuters

SINGAPORE -- Malaysian Prime Minister Mahathir Mohamad has thrown stakeholders in the country's Forest City development into a state of confusion, with an abrupt declaration of a ban on foreigners buying residential units in the China-led project -- which some argue contradicts the country's laws.

Forest City is being built by a joint venture between Chinese real estate developer Country Garden Holdings and a company backed by the state of Johor.

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