The short answer: Bodaiju Residences is developed by Creed Group, a privately held Japanese real estate group founded in Tokyo in 1996.
Its two towers in Medini are being built right now, by a Bursa Malaysia-listed contractor, with completion estimated for 2027 to 2028.
Creed has delivered homes in Asia before, it recovered from a serious setback in 2009, and we found no link to Country Garden or Forest City.
This page lays out the record, the honest gaps, and what you can check for yourself.
The question every Iskandar buyer should ask
After Forest City, every serious buyer in Iskandar Puteri asks the same thing: who is the developer, and can they finish what they started?
It is the right question, and it deserves a specific answer rather than a brochure adjective.
So here is Creed, dated and sourced, with the awkward parts left in.
The record, dated
- 1996Creed is founded in Tokyo by Toshihiko Muneyoshi, a Waseda-trained architect and former Itochu executive.
- 2009The then Tokyo-listed Creed files for court-supervised reorganization in Japan and is delisted. This is the part the brochures skip.
- 2011Creed completes its reorganization and refocuses the business on Southeast Asian development.
- 2015Creed takes ownership of its Medini entity, later renamed CI Medini Sdn Bhd.
- 2017Its Medini commercial precinct, ION, has blocks completed and issued Certificates of Completion and Compliance.
- 2018In Cambodia, Creed completes Borey Maha Sen Sok, 781 homes.
- 2020Bodaiju Residences Phnom Penh, six towers, is listed by property portals as completed.
- 2025Creed's Medini entity awards the RM186 million contract to build Bodaiju's two towers, and construction begins in September.
- 2027–28Bodaiju's first phase is due: MGB targets November 2027, and the developer's statutory estimate runs to August 2028.
The comeback the brochure leaves out
Most developer pages would stop at “founded in 1996” and let you assume a clean run.
Creed’s run was not clean, and you should hear it from us first.
In January 2009, the company then listed in Tokyo filed for court-supervised reorganization under Japan’s Corporate Reorganization Act, carrying liabilities of roughly 65 billion yen, and it was delisted, as recorded by Japanese credit agency Teikoku Databank.
That is a real insolvency, and pretending otherwise would insult your intelligence.
Two things matter about how it ended.
It was a reorganization, not a liquidation, so the company was restructured and kept operating rather than wound up.
And it finished that reorganization by 2011, then rebuilt itself around Asian development under the same founder who runs it today.
A developer that has been through the worst and come out the other side is a different proposition from one that has never been tested.
You are free to weigh that as a plus or a minus. We would rather you weigh it with the facts than find them later.
What they have actually finished
A track record is only worth what has keys in doors.
In Cambodia, Creed completed Borey Maha Sen Sok, 781 homes, in 2018, a figure it publishes on its own company site.
Its larger Cambodian project, Bodaiju Residences Phnom Penh, is described across property portals as 928 units in six towers, completed in 2020, though Creed’s own site does not print those numbers, so we flag them as portal-sourced rather than official.
Closer to home, Creed’s Medini affiliate CI Medini Sdn Bhd built the ION commercial precinct in Medini Zone C, and two of its blocks are completed and hold Certificates of Completion and Compliance.
That last point is the one you can act on.
The Bodaiju sales gallery sits inside that finished precinct.
You can stand in Creed’s completed Medini work while the towers next door go up.
Who is building Bodaiju, and will they finish it
This is the heart of the Forest City fear, so here is the concrete answer.
Bodaiju is not a promise on a hoarding.
It is an active construction site, and the company holding the hammer is a public one whose accounts you can read.
The main contractor is MGB Construction & Engineering, part of MGB Berhad, a company listed on Bursa Malaysia under the code 7595 and controlled by LBS Bina Group.
MGB won the RM186 million Bodaiju contract in August 2025, as reported by The Star, and began work the following month.
As a listed builder, MGB has to publish its numbers, and in its February 2026 results it reported a construction order book of RM1.21 billion and a full-year profit of RM50.3 million.
A contractor with a healthy, public order book is the most honest signal you will get that the crane will keep turning.
| Bodaiju Residences Medini | The build |
|---|---|
| Developer of record | Creed Property Malaysia Sdn Bhd |
| Medini affiliate | CI Medini Sdn Bhd (Creed Group) |
| Main contractor | MGB Construction & Engineering (MGB Berhad, Bursa 7595) |
| Contract value | RM186 million |
| Scale | 802 units, two towers (Tower A 405, Tower B 397) |
| Construction start | September 2025 |
| Phase 1 completion (MGB target) | November 2027 |
| Statutory completion estimate | August 2028 (KPKT permit) |
The honest caveat sits in those last two rows.
This is an off-plan purchase, so you are buying a home that is being built, not one you can move into next month.
Price your plan around a 2027 to 2028 handover, and treat the public build schedule as the thing to track.
The Forest City question, answered on facts
Forest City and Bodaiju get lumped together for one lazy reason: both are in Johor.
On the facts, they have almost nothing in common.
Forest City’s master developer is Country Garden Pacificview, majority-owned by China’s Country Garden, the group caught in that Chinese developer’s debt crisis since 2023.
Creed is Japanese, privately held, and we found no corporate, shareholding, or joint-venture link to Country Garden, to Forest City, or to any Chinese developer.
Its named partners are Malaysian and Cambodian, and its contractor is a Bursa-listed Malaysian firm.
Conflating the two because both stand in Johor is like judging one airline by another’s safety record.
What you can check yourself
Nothing on this page asks for your trust. It asks you to verify.
The contractor: MGB is listed as Bursa Malaysia 7595, so its order book, its accounts, and its build progress are public.
The licence and the land: the development’s KPKT licence and the parcel’s registered title can be searched, which we set out in how tenure at Bodaiju actually works.
The finished precinct: the ION blocks with their Certificates of Completion and Compliance are standing in Medini today, and the sales gallery is inside them.
At a viewing we put the licence, the SPA draft and the works schedule on the table, before the showflat, not after.
Book a viewing and allow ninety minutes, because the documents take half of it, and they are the better half.
Buying from across the causeway? Start with a Singapore buyer’s guide to Bodaiju Medini.
Buying to let rather than to live in? The arithmetic is on the short-term rental page, and we weigh it against a twelve-month tenancy in short-term rental versus long-term rental in Johor.