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- BPMB said the integrated development will be located along Jalan Trus and Jalan Abdullah Ibrahim to enhance connectivity into a more walkable and economically vibrant urban hub in Johor Bahru.
KUALA LUMPUR (Dec 16): Bank Pembangunan Malaysia Bhd (BPMP) formalised a RM97.63 million Term Financing-i facility with Coronade Properties Sdn Bhd (CPSB) to fund public infrastructure works for Coronation Square, an integrated mixed-use development in Johor Bahru, Johor.
The agreement was signed by BPMB group head of coverage Gerald Goh and Coronade Properties director of public relations Datin Paduka Alinah Binti Ahmad.
The development is predicted to generate more than RM9 billion in economic growth and create up to 60,000 jobs persistently, according to a statement on Tuesday (Dec 16).
BPMB said the integrated development will be located along Jalan Trus and Jalan Abdullah Ibrahim to enhance connectivity into a more walkable and economically vibrant urban hub in Johor Bahru.
BPMB group corporate and investment banking managing director Wee Yee Tat states the development will position Johor Bahru for transformative development to the benefit of communities, businesses and commuters for decades with strategic integration with the RTS Link.
The development's major feature is a 210m elevated pedestrian walkway which links directly to RTS Link’s Bukit Chagar Station.
The walkway offers a four-minute connection to support efficiency and public transport use to ease city congestion.
“This project reflects BPMB’s value in funding high-impact infrastructure to strengthen economic fundamentals while promoting sustainability,” said Wee.
This integrated development is designed as the catalyst of Ibrahim International Business District (IIBD) development to transform the city centre of Johor Bahru.
Coronade Properties CEO Kok Wai Sing highlighted the development is designed to boost Johor Bahru regeneration by mixing modern infrastructure, enhanced connectivity and vibrant community spaces.
The development includes serviced apartments, office towers, medical suites, a hotel and retail offerings that aim to boost commercial activity and overall liveability of Johor Bahru.
“BPMB support enables us to deliver important infrastructure that will improve accessibility and promote public transportation use while strengthening Johor Bahru’s evolution to become a globally connected metropolis,” said Kok.
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