The name on your sale agreement
The developer on the paperwork is Creed Property Malaysia Sdn. Bhd. The project's marketing agent gives its company number as 200901023760 (866859-P) and notes that the housing ministry's registry still shows the former name, CI Medini Sdn. Bhd. It is the same company under a new name, so do not be thrown if a licence search returns CI Medini.
The company's own history page tells you how it got here. It started work in Medini in 2013 as Sunsuria Medini Sdn. Bhd., under Sunsuria Group. Creed came in as a joint venture partner in November 2014. In November 2015 Creed became the 100% owner and the company was renamed CI Medini.
A 2019 profile of its managing director, Takeshi Matsukata, in The Iskandarian put the company's land at 82 acres in Medini, planned as shops, offices and serviced apartments. Bodaiju Residences sits on 3.54 acres.
Creed Group in Japan, and what happened in 2009
Creed was founded in 1996 by Toshihiko Muneyoshi, who had worked in Itochu Corporation's construction and real estate business. The company history says it first went outside Japan in 2006.
Then the financial crisis arrived. In January 2009 Creed Corporation, at that time listed on the First Section of the Tokyo Stock Exchange, entered corporate reorganisation proceedings, a court-supervised restructuring of a company's debts. A Japanese business news report dated 10 January 2009 covers it. CI Medini's own history page says the court appointed Mr Muneyoshi as trustee and that he completed the proceedings in 2011. The group began operating in Southeast Asia the year after.
I would rather you read that here than find it on Google after paying a booking fee. My reading: a founder the court kept in charge, who then rebuilt the business abroad, is a different case from a developer that disappeared. It is still a good reason to check the Malaysian paperwork yourself, and the checks are further down this page.
Today Creed's website describes a Japanese real estate investment group focused on Southeast and South Asia, with more than 150 employees in the Asia Pacific region and projects with a combined gross development value of USD 3 billion. Those are the company's own figures.
What Creed has built so far
| Project | Where | What the sources say |
|---|---|---|
| Borey Maha Sen Sok | Sen Sok, Phnom Penh | Landed housing. Knight Frank Cambodia's profile lists 696 units on 114,005 sq m, launched in the third quarter of 2015 and completed in 2017 |
| Bodaiju Residences | Russian Boulevard, Phnom Penh | 928 condominium units in six blocks, each with two parking levels and fourteen residential levels. Announced in August 2015 at USD 134 million |
| ION1 to ION4 | Medini Zone C | Shops and offices: 104, 106, 32 and 75 units, which is 317 in all on the 2019 count. The marketing agent says the blocks hold completion certificates |
| ION Axxes | Plot C17, Medini Zone C | Commercial block, also written Ion Akses. The Bodaiju sales gallery is on its ground floor |
The Phnom Penh Bodaiju is the nearest thing to a preview of the Medini one, so look at its timeline. When Creed announced it in August 2015, the Phnom Penh Post reported a completion target of December 2017. A construction trade listing later showed December 2017 for the first two blocks, November 2018 for the third and no date yet for the other three. The Medini project's marketing agent gives January 2020 as the month all 928 homes were complete. I have not found a completion date published by Creed itself, so treat 2020 as the agent's figure.
So it was built, in phases, and the last blocks came well after the first headline date. The lesson for Medini is simple. The date that counts is the one written into your sale and purchase agreement.
Who is building the Medini towers
Creed does not lay bricks. On 12 August 2025 MGB Berhad said in a stock exchange filing that its wholly owned unit, MGB Construction and Engineering Sdn. Bhd., had won a RM185.99 million contract from CI Medini for serviced apartments in Iskandar Puteri. MGB is listed on Bursa Malaysia and is a unit of LBS Bina Group. A broker note the next day called it MGB's first job for Creed Group.
| In the contract | Phase 1 | Phase 2 |
|---|---|---|
| Tower | 32 storeys, 405 units | 31 storeys, 397 units |
| Other works | Seven-storey podium car park, with facilities on the eighth floor | None listed |
| Start | 1 September 2025 | Not fixed when the contract was announced |
| Target | November 2027 | Within 18 months of its start date |
The two towers add up to the 802 units shown on the main Bodaiju page. MGB said the job took its outstanding order book to RM1.21 billion. Because MGB is listed, its results and contract announcements are public, which is more than you get with most private builders.
Which completion date to believe
You will hear four. The contractor's target for phase 1 is November 2027. The marketing agent quotes August 2028 as the estimate on the advertising permit, and 24 months from the date of your agreement for Tower A in the sales kit. This site shows Q3 2028. A contractor's target is the month the builder hopes to finish its work, and keys come later, after the completion certificate. Ask which tower your unit is in and which date binds the developer. The sales gallery visit guide lists the other papers to ask for on the day.
Five checks you can run yourself
- The licence. The marketing material prints housing developer's licence APDL 30949/01-2030/0005 (N), valid 6 January 2025 to 5 January 2030, and advertising and sales permit 30949-1/11-2028/0935(N)-(S), valid 6 November 2025 to 5 November 2028. Search the licence on the housing ministry's portal at teduh.kpkt.gov.my. The portal would not load for me on 11 October 2026, so I am passing these numbers on as printed and not as checked.
- The company. Buy a company profile for 200901023760 from the Companies Commission of Malaysia (SSM). It shows the directors, the shareholders and any charges registered against the company.
- The land. The marketing agent describes the title as HSD 546583, PTD 200287, Parcel C11, Mukim Pulai, on a 99-year lease from 28 December 2015 to 27 December 2114. That leaves about 88 years. Have your lawyer run a title search before you sign, and ask how the lease is described in the sale agreement.
- The builder. Look up MGB Berhad on the Bursa Malaysia website and read its latest quarterly report and any announcement that mentions CI Medini.
- The finished work. When you visit the gallery you are already standing in a Creed building. Walk round the ION blocks before you leave. Look at the upkeep, the lifts, the car park and how many shop lots are open. Ten minutes there tells you more about a developer than any brochure.
My take
Creed is a Japanese developer with one very hard year behind it, 317 shop and office units to its name in Medini and a 928-unit condominium built in Cambodia. For Bodaiju it has hired a listed contractor. Buying off plan always carries risk. Here, each claim on this page can be checked against a public record, and I would do the five checks before talking price. If you are a foreign buyer, read the foreign buyer guide next, because the state approval fee changes your total. If you are buying to let, the rental yield guide has the rent sums.
Questions buyers ask about the developer
Who is the developer of Bodaiju Residences?
Creed Property Malaysia Sdn. Bhd., the Malaysian arm of Creed Group of Japan. The company was called CI Medini Sdn. Bhd. until recently, and before November 2015 it was Sunsuria Medini Sdn. Bhd. A licence search may still return the CI Medini name.
Is Creed Group a Japanese company?
Yes. Creed was founded in Japan in 1996 by Toshihiko Muneyoshi. Its website describes a Japanese real estate investment group focused on Southeast and South Asia, with more than 150 employees in the Asia Pacific region.
Did Creed Group go bankrupt in 2009?
Creed Corporation, then listed on the First Section of the Tokyo Stock Exchange, entered corporate reorganisation proceedings in January 2009. CI Medini's own history page says the court appointed the founder as trustee and that the proceedings were completed in 2011. It was a restructuring, and the group went on to develop in Southeast Asia.
Has Creed completed any projects?
Yes. In Phnom Penh it built Borey Maha Sen Sok, which Knight Frank Cambodia lists as completed in 2017, and the 928-unit Bodaiju Residences. In Medini its company developed the ION1 to ION4 shops and offices, 317 units on a 2019 count, and the ION Axxes block where the Bodaiju sales gallery is.
Who is the main contractor for Bodaiju Residences?
MGB Construction and Engineering Sdn. Bhd., a wholly owned unit of MGB Berhad, which is listed on Bursa Malaysia and is a unit of LBS Bina Group. The contract, reported on 12 August 2025, is worth RM185.99 million and covers both towers.
When will Bodaiju Residences be completed?
The contractor's target for phase 1, the 32-storey tower, is November 2027. The marketing agent quotes August 2028 as the estimate on the advertising permit, and this site shows Q3 2028. The date that binds the developer is the one in your sale and purchase agreement.
How do I check the Bodaiju developer licence?
The number printed on the marketing material is APDL 30949/01-2030/0005 (N), valid from 6 January 2025 to 5 January 2030. Search it on the housing ministry's portal at teduh.kpkt.gov.my, and expect the result under the former name, CI Medini Sdn. Bhd.
Want the papers before you visit?
Message me and I will ask the developer's team for the licence, the permit and the draft sale and purchase agreement for the layout you are looking at, so you can read them at home first.
WhatsApp Chris +60 10-369 8656Sources, all read on 11 October 2026. Company history, the 2009 to 2011 reorganisation, the name changes and the ION plot numbers: CI Medini's own history page at cimedini.com. Creed Group's present-day description, staff and gross development value: creed-group.com. The January 2009 filing and the Tokyo listing: Net-IB News, 10 January 2009. Land of 82 acres and the ION unit counts: The Iskandarian, 10 April 2019. Phnom Penh projects: Phnom Penh Post report of August 2015 as republished by Vietstock, StarProperty of 6 June 2016, Construction Plus Asia's project listing and Knight Frank Cambodia's profile of Borey Maha Sen Sok. The MGB contract: EdgeProp, 13 August 2025, and a Mercury Securities note of the same date. MGB as a unit of LBS Bina Group: The Edge. Company number, licence and permit numbers, title details, lease dates and the January 2020 completion of the Phnom Penh project: the project's marketing agent at bodaijumedini.my, not checked against the registry. Unit counts and the Q3 2028 date: this site's main page. An independent project guide by Chris Liew, REN 08014, PropNex Realty. This is not the developer's official website.