What's Happening?
The Ascott Limited, a lodging business unit of CapitaLand Investment, has been appointed by Coronade Properties to manage the hotel component of the Coronation Square integrated development. This development is located in the Ibrahim International Business District within the Johor-Singapore Special Economic Zone and will be connected to the upcoming Rapid Transit System Link. The Ascott Coronation Square Johor Bahru will serve as a flagship hospitality development, catering to increased cross-border business, tourism, and investment activities. The agreement marks the debut of the premier Ascott brand in Johor Bahru and is a strategic milestone in Ascott's expansion in Malaysia, where it manages over 40 properties.
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Why It's Important?
The collaboration between Ascott and Coronade Properties underscores the growing appeal of the Johor-Singapore Special Economic Zone for cross-border business ventures. This development is expected to enhance infrastructure, investment, and mobility between Johor and Singapore, fostering deeper collaboration. The introduction of a five-star hotel in the region is likely to boost tourism and business travel, contributing to the local economy and positioning Johor Bahru as a world-class metropolis. The strategic location and connectivity of the hotel will further facilitate seamless cross-border accessibility, benefiting both leisure and business travelers.
What's Next?
Ascott Coronation Square Johor Bahru is scheduled to open in the second half of 2029, offering comprehensive facilities for leisure, business, and long-stay travelers. The development of Coronation Square, including a mall and other components, will continue, with construction of the mall beginning in 2026 and completion targeted for 2030. The project aims to transform Johor Bahru into a world-class metropolis, supported by enhanced connectivity and infrastructure.
