Malaysian Prime Minister Mahathir Mohamad dropped a bombshell on Sunday when he announced that his country would not allow foreigners to purchase residential units in the $100 billion Forest City project in Johor.
Uncertainty has surrounded this project since Mahathir’s coalition scored an unexpected victory in the general election held last May. Country Garden Holdings,  the project’s developer, had been hoping to revive flagging demand for its plans to build a city for 700,000 residents.

Mahathir said at a press conference: «One thing is certain: this city, once built, cannot be sold to foreigners, and we will not issue visas for people to come and live here. Our objection is that it was being built for foreigners and not for Malaysians, most of whom cannot afford such housing.»