PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) has formalised a RM97.63mil Term Financing-i facility with Coronade Properties Sdn Bhd to fund public infrastructure works for Coronation Square, an integrated mixed-use development, designated by the state government as the catalyst development of the Ibrahim International Business District.
Located along Jalan Trus and Jalan Abdullah Ibrahim, BPMB said Coronation Square is designed to enhance connectivity and anchor Johor Baru’s transformation into a more walkable and economically vibrant urban hub.
“A major feature of the development is a 210-metre elevated pedestrian walkway that will link directly to the upcoming Rapid Transit System (RTS) Link’s Bukit Chagar Station, offering a four-minute connection that improves commuter convenience, supports public transport use and helps ease city congestion.”
BPMB said the development is projected to generate more than RM9bil in economic spin-offs and create up to 60,000 jobs throughout its lifespan.
“With components including serviced apartments, office towers, medical suites, a hotel and retail offerings, Coronation Square is envisioned as a vibrant destination that boosts commercial activity and enhances the overall liveability of Johor Baru.”
BPMB group corporate and investment banking managing director Wee Yee Tat emphasised the project’s alignment with the national development priorities.
“This project reflects BPMB’s commitment to funding high-impact infrastructure that strengthens economic fundamentals while promoting sustainable and accessible mobility.
“Coronation Square’s strategic integration with the RTS Link positions it as a transformative development for Johor Baru, and we are proud to support infrastructure that will benefit communities, businesses and commuters for decades to come.”
Meanwhile, Coronade Properties chief executive officer Kok Wai Sing said Coronation Square is designed as a catalyst for Johor Baru’s regeneration, combining modern infrastructure, enhanced connectivity and vibrant community spaces.
“BPMB’s support enables us to deliver essential infrastructure that will improve accessibility, encourage public transit use and strengthen Johor Baru’s evolution into a globally connected metropolis,” he shared.
