Latest news with #AscottCoronationSquare
The Sun
3 days ago
- Business
- The Sun
Ascott to manage five-star hotel in Johor Bahru's Coronation Square
PETALING JAYA: The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment, has been appointed by Coronade Properties Sdn Bhd to manage the hotel component of the Coronation Square integrated development in Johor Bahru. The development is located in the Ibrahim International Business District (IIBD) within the Johor-Singapore Special Economic Zone (JS-SEZ) and will be directly connected to the upcoming Rapid Transit System Link ((RTS Link). Operating under Ascott's namesake brand, Ascott Coronation Square Johor Bahru will serve as a flagship hospitality development in the JS-SEZ, catering to rising demand from increased cross-border business, tourism and investment activities. The collaboration represents the first major hospitality partnership since the landmark JS-SEZ agreement between Malaysia and Singapore in January, highlighting the zone's emerging appeal for cross-border business ventures. The project also marks the debut of the premier Ascott brand in Johor Bahru and will be the sixth Ascott-branded property in Malaysia. The other five Ascott-branded properties are in Kuala Lumpur and Penang. This represents a strategic milestone in Ascott's continued expansion in Malaysia, where it now manages a portfolio of over 40 properties, both operating and in the pipeline. The hotel management agreement between Ascott and Coronade Properties was signed yesterday in Singapore, witnessed by Johor Menteri Besar Datuk Onn Hafiz Ghazi, and Singapore Minister of State, Ministry of Trade and Industry and Ministry of National Development, Alvin Tan. Ascott Coronation Square Johor Bahru will be a five-star hotel with 207 rooms housed within Tower 1 of Coronation Square, strategically located in the IIBD of the JS-SEZ and scheduled to open in the second half of 2029. Currently under development, Coronation Square is a RM5 billion integrated development by Coronade Properties and the first project to kick-start the 250-acre IIBD, positioned as a catalyst to transform Johor Bahru into a world-class metropolis. The 9.6-acre development comprises hotel, medical, office and residential components, as well as the 1.2 million-square-foot Coronation Square Mall. Construction of the mall will begin in 2026, with completion targeted for 2030. Coronade Properties corporate relations director Datin Paduka Alinah Ahmad disclosed that Coronade Properties is planning the launch a residential project, Coronade Twins, in the fourth quarter of this year. Ascott chief strategy officer and managing director for Southeast Asia Wong Kar Ling said: 'With the JS-SEZ catalysing greater cross-border investments and the RTS enhancing connectivity, Johor Bahru is entering a dynamic new phase of growth. Ascott Coronation Square Johor Bahru allows us to introduce our namesake Ascott brand to this market, positioning us at the heart of this transformation to capture rising demand from corporate, long-stay and leisure segments. This reinforces our long-term commitment to Malaysia's hospitality landscape and cross-border prosperity.' 'Ascott's presence in Malaysia continues to deepen, with over 40 properties in operation and in the pipeline. They span diverse brands including Ascott, Citadines, lyf, Oakwood, Somerset, Crest Collection, Unlimited Collection, Fox and Harris, catering to a wide range of guests and market segments. 'From key urban centres like Kuala Lumpur and Johor Bahru to fast-growing leisure destinations such as Penang and Sabah, Malaysia remains a core growth market for us. We are committed to expanding our footprint with high-quality developments that meet the evolving expectations of discerning travellers visiting the country,' she added.
The Star
3 days ago
- Business
- The Star
Ascott to debut in Johor with hospitality partnership
SINGAPORE: The Ascott brand will be making its debut in Johor, making it the first major hospitality partnership since the launch of the landmark Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both countries early this year. Known as the Ascott Coronation Square Johor Bahru, the project will be the sixth Ascott-branded property in Malaysia. The other five Ascott-branded properties are in Kuala Lumpur and Penang. This represents a strategic milestone in Ascott's continued expansion in Malaysia, where it now manages a portfolio of over 40 properties, both operating and in the pipeline. The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), has been appointed by Coronade Properties Sdn Bhd (Coronade Properties) to manage the hotel component of the Coronation Square integrated development. The development is strategically located in the Ibrahim International Business District (IIBD) within the Johor-Singapore Special Economic Zone (JS-SEZ) and will be directly connected to the upcoming Rapid Transit System (RTS) Link. Operating under Ascott's flagship namesake brand, Ascott Coronation Square Johor Bahru will serve as a flagship hospitality development in the JS-SEZ, catering to rising demand from increased cross-border business, tourism and investment activities. The hotel management agreement between Ascott and Coronade Properties was signed today in Singapore, witnessed by Johor Mentri Besar Datuk Onn Hafiz Ghazi and Singapore Minister of State for Trade and Industry and National Development Alvin Tan. Elevating the Hospitality Experience in the JS-SEZ Ascott Coronation Square Johor Bahru will be a five-star hotel with 207 rooms housed within Tower 1 of Coronation Square, strategically located in the IIBD of the JS-SEZ. Scheduled to open in the second half of 2029, the hotel will cater to leisure, business and long-stay travellers with comprehensive facilities including an all-day dining restaurant, swimming pool, fitness centre, residents' lounge and meeting rooms. Designed as a sanctuary of fine living, the property will showcase Ascott's signature touches through timeless interiors, curated lobby art installations and elevated service by the Ascott Artisan. Guests can enjoy curated experiences including Themed Suites and the Ascott Soirée, a cultural initiative celebrating the arts and connecting guests to their destination. Meanwhile Johor Mentri Besar Datuk Onn Hafiz Ghazi in his speech said that the unveiling of Ascott Coronation Square Johor Bahru was a proud moment for the state as it was a significant step towards becoming a dynamic, future-ready and internationally connected state. 'Coronation Square is not just another development. It is a catalyst project of the Ibrahim International Business District (IIBD) which forms a vital component of the broader JS-SEZ,' he said. He stressed that the IIBD vision was to create a vibrant new business and financial hub for the region and Coronation Square stands as a centrepiece of this iconic city masterplan. Onn said that while Johor continues to prioritise affordable housing, rural development and community upliftment, the state also acknowledges the importance of high-impact, investment-grade developments. 'Projects like Coronation Square attract international investors, tourists and talents. All of whom contribute to a more diverse and resilient economy,'he said, adding that they generate quality job opportunities, raise industry standards and create upskilling pathways for Johorians to thrive in a globally competitive market. He added that the arrival of Ascott Limited in Coronation Square marks a turning point for Johor's hospitality landscape. 'Ascott presence brings a world-renowned brand into our state, elevating Johor's profile on a global stage,' he added.
