CLI to partner Malaysian developer Coronade Properties on retail strategy for mall in Johor-Singapore SEZ 

[SINGAPORE] CapitaLand Investment (CLI) has been appointed by Malaysian developer Coronade Properties to shape the retail vision for Coronation Square Mall, which will be the largest mall in Johor Bahru’s city centre when completed. 

The mall is part of a RM$5 billion (S$1.5 billion) integrated development in Johor Bahru’s Ibrahim International Business District (IIBD) in the Johor-Singapore Special Economic Zone (JS-SEZ). 

CLI’s strong shopper and tenant networks, hospitality expertise, and a global customer base” will help the mall “boost footfall, elevate visitor experiences, and position the development as a vibrant gateway destination within the JS–SEZ”. 

Ervin Yeo, CLI’s group chief strategy officer and chief executive officer of commercial management, said: “By leveraging our commercial management expertise and ecosystem strengths, we aim to create a vibrant, world-class destination that sets a new benchmark for cross-border retail. 

“This collaboration will also be a bridge for Singapore-based retailers to enter Johor Bahru together with CLI, along with brands from our global retail network.” 

Kok Wai Seng, chief executive officer of Coronade Properties, said: “With CLI’s proven track record of delivering successful retail destinations across the region, we are confident that Coronation Square Mall will thrive as Johor Bahru City Centre’s largest one-stop lifestyle destination”. 

Construction of the mall is expected to begin in 2026 and is targeted to complete in 2029.

CLI’s lodging business unit, The Ascott Limited, is also managing the hotel component of Coronation Square, in the first major hospitality partnership since the JS-SEZ pact was signed between both countries in January 2025. 

Coronation Square comprises eight towers including the mall, which spans 1.25 million square foot (sq ft). The integrated development, which is directly connected to the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link, also includes the hotel, Ascott Coronation Square Johor Bahru, premium office spaces and a fully sold residential component.  

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Shares of CapitaLand Investment rose 1.2 per cent or S$0.03 to S$2.63 on Monday (Nov 24) before the announcement.