JOHOR BAHRU, 1 April – The RM4 billion Coronation Square taking shape in the heart of the city here is on track for full completion by 2028 despite construction constrains caused by the protracted Covid-19 pandemic.
Strict SOP guidelines had significantly reduced manpower onsite and affected construction timelines for project developer Coronade Properties Sdn Bhd.
In spite of the challenges, company director of corporate affairs Datin Paduka Alinah Ahmad said the development is on track to deliver a refreshing new city centre and financial hub.
“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.
She was speaking at a ceremony to unveil the Coronation Square’s signature landmark logo by JB City Mayor Y.B Dato’ Mohd. Noorazam bin Dato’ Haji Osman here today.
Coronation Square coming up on a 9.58-acre site flanked by Jalan Abdullah Ibrahim and Jalan Trus in the heart of the city here, will give Johor Bahru a much-needed facelift with a dedicated new city centre and financial hub.
When fully done, the mixed integrated project will showcase a retail shopping mall and six towers featuring two blocks of serviced apartments, two office blocks, a hotel and medical suites.
All the key development components will be directly linked to the upcoming Rapid Transit System (RTS) to Singapore, in addition to sky bridges connecting to the Customs, Immigration and Quarantine (CIQ) Complex in JB Sentral.
Coronation Square is the crown jewel of the 250-acre designated Ibrahim International Business District economic zone within the city here, which was launched by HM Sultan Ibrahim Ibni Almarhum Sultan Iskandar.
Alinah said Coronation Square by virtue of its size, design and scope of development was destined to spur growth and help position Johor Bahru as a new regional commercial and shopping hub.
She said the project would showcase several unique architectural components, including the “Coombe Hill” serviced apartments. Scheduled for completion by 2025, it is targeted at young and old Malaysians, Johoreans working in Singapore and Singaporeans looking to relocate here.
Also due to be ready by the 2nd quarter of 2023 is the purpose-built Medical Suites to be operated by KPJ Healthcare Berhad, while the “The Gem” shopping mall offering 1.2 million sq. ft of retail space spread over seven levels will open in 2024.
An intricate network of flyovers will be built to channel traffic from most parts of city and the surrounding highways directly to Coronation Square, and from Singapore via the RTS link.
These traffic linkages are expected to positively impact the infrastructure transformation of JB, spur rapid urban renewal and inject a sense of vibrancy in the city.
Coronation Square, the first major integrated commercial development here in nearly 20 years, is designed to create a new financial and office zone embedded with latest 5G infrastructure and Grade A buildings.
“There is a glaring shortage of good quality buildings within the JB central business district. Coronation Square will provide a metropolitan high-end look and feel as well as help reposition JB with a new financial district,” stressed Alinah, adding that the project was planned to cater to the needs of on-line residents and entrepreneurs.
This catalytic development, which is expected to contribute over RM9 billion in economic output and support 60,000 jobs throughout its development phase is destined to transform Johor Bahru into a global city.