Projects

Projects in Progress

MAP

  • Malaysia
    Singapore / Johor Bahru
  • Cambodia
    Phnom Penh
  • Myanmar
    Yangon
  • Bangladesh
    Dhaka
  • Vietnam
    Ho Chi Minh
  • Tokyo
Johor Bahru, Malaysia
  • Creed has invested in a mixed development project located in Medini area by acquiring equity shares in the project vehicle.more
Phnom Penh. Cambodia
  • Creed has formed a joint venture with a local partner for acquisition and development of the lands in high growth locations.more
  • Creed has acquired a majority shares in a micro finance company.more
Yangon, Myanmar
  • Creed has provided a project finance to a local developer for the construction costs of 1,000+ units of condominium.
Dhaka, Bangladesh
  • Creed has acquired a piece of land located in Bashundhara Residential Area for development of condominium units.
  • Creed has developed a mixed-use commercial project in Bashundhara, with retail and office spaces.
Ho Chi Minh, Vietnam
  • Creed has invested in a high rise residential project under the way of subscribing the corporation bonds.more
  • Creed has formed a joint venture with a local partner to develop two high-class residential projects, catering to middle-class consumers.more

Cases

Johor Bahru

Case 01: Land Acquisition in Johor Bahru, Malaysia

Developing a large-scale mix development in a special economic zone.
Based on the improved relationship between Singapore and Malaysia and the mega-scale infrastructure investments by Malaysian government,the real estate market in Johor Bahru, the 2nd largest city in Malaysia just adjacent to Singapore, has been booming in the last several years.

Creed Group made inroads into Malaysian market in 2012, before the real estate boom went into full swing.

In 2014, Creed Group invested in CI Medini Sdn Bhd (formerly known as Sunsuria Medini Sdn Bhd)
which secured the development rights in Medini Iskandar Malaysia
where infrastructure and tax inicentives are provided by Malaysia government.

CI MEDINI is poised to metamorphose the flagship Medini Zone C. Encompassing an area of 82 acres in Medini, into a modern developing sustainable city of international standing to create a high quality, integrated, uniquely enriching, efficient and secure environment.

Case 02: Joint Venture in Phnom Penh, Cambodia

Planning a large-scale complex development in the highly growing market
In Cambodia, after a few years of slump due to rapid incoming and outgoing foreign capitals (mostly Korean capitals), property prices have been recovered to the peak level before the Lehman-shock, and the market itself is in a firmly upward phase. Recently, mega-scale developments are taking places one after another, such as the first AEON MALL in Cambodia which was opened in July 2014, and furthermore, those mega-scale developments are creating an upward cycle of increase in land prices in the surrounding areas. In 2013, Creed formed a joint venture with a local partner and acquired 4 hectare land near Phnom Penh International Airport where Parkson, a Malaysian retail giant, is planning to open a shopping mall next to the land. Fully utilizing the potential of the land adjacent to the shopping mall, Creed plans to develop a large-scale commercial, office, and residential complex, which will be the first kind of work-residence-next-door complex in Cambodia.

Case 03: Landed Housing Development in Phnom Penh, Cambodia

Generating value by building homes for the middle-class
Steady economic growth over the past decade has led to a rapidly-growing middle class in Cambodia. Fuelled by population increases, fast-improving infrastructure, and rapid urbanization, demand for housing has skyrocketed in recent years. Creed Group has planned a development of around 700 units of landed housing in west Phnom Penh, about 10 km from the CBD. The area is surrounded by similar residential developments, which have seen strong sales, attesting to its attractiveness and high potential.

Case 04: Project Finance in Ho Chi Minh City, Vietnam

Investing in an asset which is undervalued in the recovery market
Although Vietnam experienced a severe economic bubble in its real estate market from 2006 to 2007, it is the only country with continuously decreasing property prices among all South-East Asian countries. Vietnam’s property value could be undervalued from its condensed population and industry’s prosperity. Recently, while real estate ownership regulations for foreigners have been loosened, property prices seem to be hovering around the bottom end, mainly in the middle-class Town Housing section. Creed Group provides project financing to approximately 1,100 units of a local middle-end Town Housing development project in Ho Chi Minh City suburb, which is organized by a listed local developer.

Case 05: High-Class Residential Development in Vietnam

Catering to the sophisticated tastes of the rising middle-class
In 2015, Creed Group embarked on a condominium development project (717 units in total) in collaboration with a real estate venture company in Ho Chi Minh City, known as An Gia Real Estates Investment and Development Corporation. Despite their outstanding design and attractive location – adjacent to the riverside in an exclusive residential area, the two projects (started in July and October 2015) are proposed at market price. The long waiting lines for ownership reflect their popularity. Also, Creed Group has acquired shares of An Gia Real Estates Investment and Development Corporation, in line with their plan to list on the stock market from 2018.

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