Hong Kong-based licensed asset management firm, Wonder Capital Group, is proud to announce its long-term strategic partnership and the formation of CMAG Funds, with Chatchaval Jiaravanon, CP Group family member, also the owner of Fortune magazine. This collaboration, together with IFCG, the top investment property agency in Thailand, marks a significant milestone for the three parties and solidifies their commitment to shaping the future of real estate in Southeast Asia, starting with MESONG Phnom Penh, the tallest building in Cambodia.
MESONG, standing at a towering height of 252m and comprising 71 stories, will become Cambodia's tallest building. Nestled in the coveted location of Diamond Island, Phnom Penh, the capital of Cambodia, MESONG enjoys the company of numerous grade A developments, such as offices, convention and exhibition centres, and hotels. This extraordinary mixed-use development, crafted by Wonder Development, encompasses serviced apartments, condominiums, and a five-story shopping mall. The unique project with huge potential attracts interest from Chatchaval Jiaravanon and IFCG. MESONG is identified as a key investment opportunity that aligns with their expansion plans in the globe and more specifically the Southeast Asia market.
CMAG Funds’ investor group visited the MESONG showflat in Phnom Penh, Cambodia
As part of this partnership, a consortium of global investors led by Chatchaval Jiaravanon, CMAG Funds will become one of the major shareholders of MESONG. The initial plan also includes the acquisition of one zone of MESONG Tower 1, consisting of approximately 200 units. “The property will be renovated and managed as branded, ultra-high-end, and hotel-grade serviced apartments primarily targeting at top executives and high-net-worth investors. The alliance will also explore opportunities in other burgeoning markets," said Maverick Hui, Managing Director of Wonder Development.
Furthermore, this collaboration also represents IFCG's first significant step in establishing a global footprint and exploring property markets beyond Thailand. Led by Alan Withoon Lertpanomwan, CEO of IFCG, the team will continue to identify hidden gems in the global market, like MESONG, with immense potential to provide value to their high-net-worth clients.
Gigi Chan, Founder and CEO of Wonder Capital Group, expressed excitement about the partnership
"We are thrilled to join forces with Chatchaval Jiaravanon and his professional team," said Gigi Chan, Founder and CEO of Wonder Capital Group. "We will continue to seek investment opportunities in the Southeast Asia market. We truly believe that the Southeast Asia market is one of the most promising opportunities for global investors, and we are delighted to be among the first movers. With the fund’s operation and management based in Hong Kong, we have great confidence in the financial infrastructure and system of Hong Kong, which is highly attractive to investors around the world."
Chatchaval Jiaravanon, CP Group Family Member and the owner of Fortune magazine, expressed enthusiasm for the partnership with Wonder Capital Group
Chatchaval Jiaravanon, a member of CP Group Family and the owner of Fortune magazine, expressed his enthusiasm for the partnership, stating, "We are excited to have Wonder Capital Group as our trusted partner. Looking ahead, the consortium fund will continue to seek promising investment opportunities like MESONG in RCEP (The Regional Comprehensive Economic Partnership) countries, including but not limited to Thailand and Cambodia, followed by other growing markets around the globe."