The RM4 billion Coronation Square integrated development in Johor Bahru is on track to complete by 2028 despite the ongoing challenges and will revitalise the city centre.
Datin Paduka Alinah Ahmad, director of corporate relations at Coronade Properties Sdn Bhd said that the mixed integrated development would transform into a new city centre and financial hub for the Johor market.
According to Bernama, Alinah stated in a statement today that the project is expected to create more than RM9 billion in economic spin-off and sustain 60,000 jobs throughout its construction period.
"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.
Alinah said that KPJ Healthcare Bhd's medical suites will be ready by the second quarter of 2023, while The Gem shopping mall, with 1.2 million square feet of retail space split across seven levels, will open in 2024.
Coronation Square is the first project for the 101.17 hectares (ha) Ibrahim International Business District (IIBD), the state's transformation plan to transform Johor Bahru into a world-class metropolis.
It was launched in 2015 by the Sultan of Johor, Sultan Ibrahim Almarhum Sultan Iskandar.
The 3.88-hectare complex contains a shopping mall and six high-rise towers with serviced apartments, office towers, a hotel, and medical suites.
Alinah said that all of the development's key components would be directly linked to the future Johor Bahru-Singapore Rapid Transit System (RTS Link).
Sky bridges would connect to the Customs, Immigration, and Quarantine Complex in Johor Bahru Sentral, she said.