Muristek
JOHOR BAHRU, April 4 — Coronation Square in Johor Bahru, which is on track for completion by 2028, is expected to contribute over RM9 billion in economic spin-off and support 60,000 jobs throughout its development phase.
Coronade Properties Sdn Bhd director of corporate affairs Datin Paduka Alinah Ahmad said despite challenges, the development of the mixed integrated project is set to deliver a refreshing new city centre and financial hub.
She said the RM4 billion Coronation Square, which is developed on a 9.58 acres site in the heart of city centre, would give the state capital a much-needed facelift with dedicated new city centre and financial hub.
When fully completed, she said, the mixed integrated project would showcase a retail shopping mall and six towers featuring two blocks of serviced apartments, two office blocks, a hotel and medical suites.
“The 39-storey Menara Bank Rakyat, which is one of the six planned high-rise signature towers, is nearing completion and will open as scheduled in the fourth quarter of this year,” she said in a statement here today.
Meanwhile, the purpose-built medical suites to be operated by KPJ Healthcare Bhd are due to be ready by the second quarter of 2023, while The Gem shopping mall, offering 1.2 million square feet of retail space spread over seven levels, will be opened in 2024.
Alinah said all the key development components would be directly linked to the upcoming Rapid Transit System to Singapore, in addition to sky bridges connecting to the Customs, Immigration and Quarantine Complex in Johor Bahru Sentral.
Coronation Square, a crown jewel of the 250-acre (101.17-hectare) designated Ibrahim International Business District economic zone within the city here, was launched by the Sultan of Johor, Sultan Ibrahim Almarhum Sultan Iskandar, in 2015. — Bernama