Johor Bahru to Get New Business District

May 26, 2017

 

Johor Baru‘s city centre is currently being transformed into a modern world-class financial district capable of competing with its slick new neighbouring areas like Danga Bay and Iskandar Puteri, reported The Straits Times.

Plans to revitalise the area have been set into motion, starting with the Ibrahim International Business District (IIBD), a RM20 billion initiative launched in November 2015 that aims to turn the city centre into international business district by enhancing its infrastructure.

Last Tuesday (23 May), the authorities launched the first public infrastructure project to improve accessibility by building pedestrian bridges.

For instance, a 268m-long pedestrian bridge will link the JB Sentral railway station and bus terminal with the Persada Convention Centre�s extension, Persada Annexe, which altogether forms part of the highly-anticipated Coronation Square. Construction has yet to start, but the bridge is targeted to be completed by end-2018.

There will also be a new flyover spanning from the Tebrau Corridor, an upcoming area east of the city centre, that will be connected to Coronation Square and IIBD.

But the most important piece in the new international business district is the upcoming Coronation Square, which has a gross development value (GDV) of RM3 billion. IIBD�s jewel will feature six towers by Coronade Properties. In particular, there will be a hotel, two office blocks and a tower with medical suites, as well as two buildings with condominium and serviced apartments.

While Coronade Properties is constructing the IIBD, Singapore-listed Astaka Holdings is currently building a new central business district in Johor.

In 2013, the latter unveiled its One Bukit Senyum project with a GDV of RM5.4 billion and situated at the intersection of Jalan Lingkaran Dalam and Tebrau expressway in the city centre.

Expected to be completed by 2021, the massive development will consist of residential towers, a shopping mall, a five-star hotel, an office building and the new headquarters of the Johor Bahru City Council.

Its first phase The Astaka is expected to be completed by 2018. It will feature a 65-storey and 70-storey tower containing a total of 438 residential units. Of this, over 300 units have been sold, with Singaporeans accounting for 55 percent of the buyers.

Among Johor’s latest developments are:

1. R&F Princess Cove

2. Clarinet @Taman Desa
Image sourced from Straits Times

 

Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my

 

For more information on new top homes, check out PropertyGuru’s New Property Launches and Project Reviews.

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