Kuok Group’s Allgreen Properties revamps Johor Bahru City Square to tap RTS link
Group bought back majority stake it sold to GIC 20 years ago; multi-phase redevelopment to be completed by end 2027
[KUALA LUMPUR] Singapore-based Allgreen Properties, a member of Kuok Group, has unveiled a multi-phase asset enhancement initiative (AEI) for Johor Bahru City Square (JBCS), a 25-year old mall close to the Johor Causeway.
The AEI will increase the mall’s floor space by over 20,000 sq ft to 568,927 sq ft and will result in more than 300 retail outlets, up from the current 247. There will be a refreshed facade, new anchor tenants, speciality concepts and experience-led zones.
The upgrade is timed to capitalise on the anticipated rise in cross-border retail demand driven by improved connectivity between Johor and Singapore, particularly with the upcoming Johor Bahru-Singapore Rapid Transit System (RTS).
The 4 km RTS cross-border service is expected to start operations by end-2026, ferrying as many as 10,000 commuters moving in both directions per hour, cutting cross-border travel to under 10 minutes.
Opened in 1999, JBCS has been a central retail landmark for the city for more than two decades, drawing both Johor residents and Singaporean day-trippers due to its location just steps from the Johor Bahru-Singapore Causeway.
In a media statement on Monday (Nov 3), Allgreen Properties said the multi-phase redevelopment begins this month, with completion targeted for the fourth quarter of 2027. The redevelopment will be rolled out in five phases, with the mall remaining operational throughout.
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More than just new look
Tho Leong Chye, managing director of Allgreen Properties, said: “By combining refreshed spaces with a curated mix of new brands and experiences, we are investing in JBCS’ future to ensure it continues to thrive as the vibrant heart of retail, leisure and lifestyle for generations to come,” he said in the statement.
Details on the capital expenditure for the JBCS overhaul remain undisclosed, as Allgreen Properties did not respond to The Business Times’ request for comment by press time.
Prior to the AEI, Allgreen Properties re-acquired full ownership of JBCS in a deal estimated at RM850 million (S$263 million) in 2024, having previously divested a stake to Singapore sovereign wealth fund GIC Real Estate in 2004. Edge Malaysia reported that GIC had then paid Kuok Brothers, Pelangi Group (also controlled by Kuok Brothers), the Johor Bahru City Council and Lee Brothers close to RM500 million.
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It added that the purchase of the 70 per cent stake held by GIC Real Estate gives Kuok Group, via two companies, an effective 76 per cent stake in the mall.
More leisure and wellness offerings
A live-work-play dimension will be introduced to the site through key features which include a 15,000 square foot (sq ft) Kids Adventure Park, a 41,300 sq ft health and wellness hub, a large-format event space and integrated hotel apartments slated for completion in the second quarter of 2028.
Sustainability and digital upgrades, including energy-efficient cooling systems, smart parking, enhanced connectivity and waste management improvements, will also be implemented, said the company.
Allgreen Properties is one of Asia’s leading real estate groups with a diversified portfolio spanning residential, retail, commercial, serviced apartments and hotels.
Its Singapore retail portfolio includes Great World City, Tanglin Mall, Pasir Ris Mall and The Seletar Mall.
Incorporated in 1986, the group has expanded beyond Singapore through strategic joint ventures with Kerry Properties to develop a range of landmark mixed-use projects across China.
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