Johor Bahru, 16 December 2025 – Bank Pembangunan Malaysia Berhad (BPMB) today formalised a RM97.63 million 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 development of the Ibrahim International Business District (IIBD) which is set to transform the city centre of Johor Bahru.
Strategically 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. A major feature of the development is a 210-metre elevated pedestrian walkway that will link directly to the upcoming RTS Link’s Bukit Chagar Station, offering a four-minute connection that improves commuter convenience, supports public transport use and helps ease city congestion.
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.
Speaking at the signing ceremony, Wee Yee Tat, Managing Director, Group Corporate & Investment Banking at BPMB, emphasised the project’s alignment 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 Bahru, and we are proud to support infrastructure that will benefit communities, businesses and commuters for decades to come,” he said.
Chief Executive Officer of Coronade Properties, Kok Wai Sing, highlighted the development’s role in shaping Johor Bahru’s urban future. “Coronation Square is designed as a catalyst for Johor Bahru’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 Bahru’s evolution into a globally connected metropolis.” he shared.
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 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.
The agreement was signed by Gerald Goh, Group Head of Coverage, BPMB, and Datin Paduka Alinah Binti Ahmad, Director of Public Relations of Coronade Properties, and witnessed by Wee Yee Tat, and Kok Wai Sing. The ceremony, held at the Coronation Square Sales Gallery, underscored the shared commitment of both organisations to support Johor Bahru’s next phase of growth and strengthen its position as a key commercial and transportation hub.