JOHOR BARU: Bank Pembangunan Malaysia Berhad (BPMB) has formalised a RM97.63mil Term Financing-i facility with Coronade Properties Sdn Bhd (CPSB) to fund public infrastructure works for Coronation Square, an integrated mixed-use development designated by the state government as the catalyst project for the Ibrahim International Business District (IIBD).
Strategically located along Jalan Trus and Jalan Abdullah Ibrahim here, Coronation Square is designed to enhance connectivity and anchor the city’s transformation into a more walkable and economically vibrant city centre.
A key feature is a 210-metre elevated pedestrian walkway linking directly to the upcoming Rapid Transit System (RTS) Link Bukit Chagar Station, providing a four-minute connection that aims to improve commuter convenience, promote public transport use, and ease city congestion.
The development, which includes serviced apartments, office towers, medical suites, a hotel, and retail offerings, is projected to generate more than RM9bil in economic spin-offs and create up to 60,000 jobs throughout its lifespan.
Coronation Square is envisioned as a vibrant destination that will boost commercial activity and enhance the overall liveability of Johor Baru.
BPMB group corporate and investment banking managing director Wee Yee Tat said the project aligns with 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,” he said during the signing ceremony held here on Tuesday (Dec 16).
Meanwhile, Coronade Properties chief executive officer Kok Wai Sing highlighted the project’s role in shaping Johor Baru’s urban future.
“Coronation Square is designed as a catalyst for the city’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 said.
BPMB’s financing supports the 12th Malaysia Plan’s focus on quality investments and aligns with key UN Sustainable Development Goals, particularly those related to sustainable cities and inclusive mobility.
The public infrastructure components, including the elevated walkway, road upgrades, reinforced earth structures, and a flyover, are expected to improve traffic flow, enhance pedestrian access, and foster a more sustainable urban transport ecosystem.
The agreement was signed by BPMB coverage group head Gerald Goh and Coronade Properties public relations director Datin Paduka Alinah Ahmad.
Both Wee and Kok witnessed the signing ceremony between the two parties at the Coronation Square Sales Gallery.
The ceremony highlighted the shared commitment of both organisations to support Johor Baru’s next phase of growth and strengthen its position as a key commercial and transportation hub.
