CapitaLand Investment Partners with Coronade Properties to Develop Major Retail Hub in JS-SEZ

CapitaLand Investment Limited (CLI) has entered into a strategic collaboration with Coronade Properties to conceptualize and shape the retail direction of the upcoming Coronation Square Mall — a development set to become the largest shopping destination in Johor Bahru City Centre.

The mall, spanning 1.2 million sq ft, forms a central component of the RM5 billion Coronation Square integrated development, strategically positioned within the Ibrahim International Business District, right at the heart of the Johor-Singapore Special Economic Zone (JS-SEZ). Once completed, the project is expected to elevate the region’s commercial appeal, similar to how major retail hubs support growing demand for commercial property in KL and industrial property in the Subang area.

Connectivity and Timeline

Coronation Square Mall will enjoy direct access to the upcoming Bukit Chagar station on the Rapid Transit System (RTS) link, providing seamless travel between Johor Bahru and Singapore. Construction is planned to begin in 2026, with completion targeted for 2029.

Creating a New Regional Retail Destination

The partnership capitalizes on CLI’s deep expertise in both retail and hospitality across Asia. Kok Wai Sing, CEO of Coronade Properties, said the collaboration aligns with their ambition to build Johor Bahru’s leading lifestyle destination. With CLI’s history of developing successful retail environments, the new mall is expected to attract a mix of local shoppers, cross-border visitors, and international brands.

Ervin Yeo, group chief strategy officer and CEO for commercial management at CLI, added that the project will establish a new standard for cross-border retail. CLI aims to utilize its commercial ecosystem to bring global and Singapore-based brands into Johor Bahru through this development — a move that is expected to create spillover opportunities for surrounding commercial real estate markets, similar to how improved infrastructure often increases demand for office space in Bukit Jalil, factory options in Puchong, and industrial land in Selangor.

Hotel Component Already Awarded

In August, CLI’s lodging arm, The Ascott Limited, was appointed to manage Ascott Coronation Square Johor Bahru, the integrated hotel component of the project. This hospitality addition will complement the mall and reinforce Coronation Square as a major mixed-use destination in the JS-SEZ.