BPMB Provides RM97.63 Mln Financing Facility To Johor's Coronade Properties

JOHOR BAHRU, Dec 16 (Bernama) -- Bank Pembangunan Malaysia Bhd (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 in Johor Bahru.

The state government designated Coronation Square as a catalyst for the development of the Ibrahim International Business District (IIBD).

In a joint statement today, BPBM and Coronade Properties said the Coronation Square development, located along Jalan Trus and Jalan Abdullah Ibrahim here, includes infrastructure components to improve the city’s connectivity and support Johor Bahru’s development as a more pedestrian-friendly and economically vibrant urban centre.

They said a key element of the project is a 210-metre elevated pedestrian walkway that will directly link Coronation Square to the Bukit Chagar RTS Link Station, with an estimated travel time of about four minutes.

“This facility is expected to make daily travel more convenient for users, encourage public transport use, and help reduce traffic congestion in the city centre,” they said.

The statement also stated that the project 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,” they said.

The financing agreement was signed by BPMB group head of coverage Gerald Goh and Coronade Properties director of public relations Alinah Ahmad.

BPMB group corporate and investment banking managing director Wee Yee Tat and Coronade Properties chief executive officer Kok Wai Sing witnessed the signing ceremony.

Wee emphasised the project’s alignment with national development priorities, as it 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 Johor Bahru–Singapore Rapid Transit System 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.

Meanwhile, Kok highlighted that 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.

The statement stated that 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,” it added.

-- BERNAMA