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Bangkok Condo Developer from Israel

By on Jun 16, 2015 in Property News

There is a new condo developer in Bangkok, Israel’s DANYA Cebus Construction. They are expanding into Southeast Asia by establishing a 49:51 joint venture with Major Development Plc, targeting construction projects valued at Bt3 billion-Bt5 billion per year.

Danya Cebus is a subsidiary of Africa Israel Investments and was listed on the Tel Aviv Stock Exchange in 2000. “This is our first time in Southeast Asia. We see strong demand for construction in this region when theAseanEconomic Community is effective in December. Asean countries need to develop their infrastructure and buildings, so we selected Thailand to be our headquarters in Asean,” CEO Ronen Ginsburg told a press conference.

“In Thailand, we have to take about three years to build our portfolio before expanding to develop the government’s infrastructure projects,” he said.

TMDC Construction has the contract for Canapaya Residences, a condo development in Bangkok.

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