PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) today formalised a RM97.63 million 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, Coronation Square is designed to enhance connectivity and anchor Johor Bahru’s transformation into a more walkable and economically vibrant urban hub.
The development is projected to generate more than RM9 billion 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 Bahru.
BPMB group corporate and investment banking managing director Wee Yee Tat said, “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 Bahru, and we are proud to support infrastructure that will benefit communities, businesses and commuters for decades to come.”
Coronade Properties CEO Kok Wai Sing said Coronation Square is designed as a catalyst for Johor Bahru’s regeneration, combining modern infrastructure, enhanced connectivity and vibrant community spaces.
He added that BPMB’s support enables them to deliver essential infrastructure that will improve accessibility, encourage public transit use and strengthen Johor Bahru’s evolution into a globally connected metropolis.
The project’s 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.
