Latest news with #CoronadeProperties
CNA
3 days ago
- Business
- CNA
Singapore's Ascott, Malaysia's Coronade to partner on landmark hotel in Johor-Singapore SEZ
20 Singapore-based firms are expanding into Johor, seven months after the Johor-Singapore Special Economic Zone agreement was signed. It brings Singapore closer to its target of 100 projects in 10 years at the SEZ. To support the growth of business travelers and tourists, a landmark hotel will be built within the economic zone. The 207-room hotel is a collaboration between Singapore's Ascott Limited and Malaysia's Coronade Properties. Named the Ascott Coronation Square Johor Bahru, the hotel, which is expected to open in the second half of 2029, will be about 2.3km from Woodlands Checkpoint. Nadirah Zaidi reports.
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.
Business Times
3 days ago
- Business
- Business Times
Ascott inks deal with Malaysian developer Coronade Properties to manage hotel in Johor-Singapore SEZ
[SINGAPORE] Ascott, the lodging business unit of CapitaLand Investment, will manage the hotel component in Coronation Square – a RM5 billion (S$1.5 billion) integrated development in Johor Bahru's Ibrahim International Business District (IIBD). The IIBD is located within the Johor-Singapore Special Economic Zone (JS-SEZ). The agreement, signed on Friday (Aug 8) with Malaysian developer Coronade Properties, represents the first major hospitality partnership since the JS-SEZ pact between both countries in January 2025. Kevin Goh, chief executive of The Ascott Limited and Lodging at CapitaLand Investment, said: 'This project reflects the increasing momentum behind cross-border collaboration and our confidence in the region's growth potential.' Minister of State for Trade and Industry Alvin Tan, who attended the signing, said the JS-SEZ is an important value proposition for investors outside the Asean region, showcasing Singapore's strengths as a global hub for research, development and finance with Johor's growing talent and resource base. The five-star hotel – Ascott Coronation Square Johor Bahru – will have 207 rooms in Tower 1 of the development. It will cater to the rising demand for hospitality services arising from increased cross-border business, tourism and investment activities, said Ascott. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Scheduled to open in the second half of 2029, it will comprise facilities such as all-day dining restaurants, a swimming pool, fitness centre, residents' lounge and meeting rooms. The project will be the Ascott brand's debut in Johor Bahru and its sixth property in Malaysia, where the group has more than 40 operating and pipeline properties. From left: Kevin Goh, chief executive of The Ascott Limited and Lodging of CapitaLand Investment; Alvin Tan, Minister of State for Trade and Industry; Serena Lim, Ascott's chief growth officer; Paduka Alinah Ahmad, Coronade Properties' director of corporate relations; Johor Chief Minister Hafiz bin Ghazi; and Chew Siou Hong, Coronade Properties' development director. PHOTO: ASCOTT Coronation Square – the development housing the hotel – sits on a 9.6 acres (3.9 hectares) plot owned by Coronade Properties. It comprises hotel, medical, office and residential components, as well as a 1.2 million-square-foot mall. Construction of the Coronation Square Mall will start in 2026, with completion slated for 2030. It also features a basement parking with about 4,500 parking bays, including 700 reserved for users of the Rapid Transit System (RTS). Residential project Coronade Twins, located across Tower 7 and 8 in the development, is slated for launch in the fourth quarter of 2025. Meanwhile, Tower 5's Menara Bank Rakyat is completed and ready to be leased. The wellness centre in Tower 3 is 80 per cent completed, while condominium project The Coronade Residences in Tower 4 is 30 per cent completed. The development is directly connected to the upcoming RTS station at Bukit Chagar and customs via a 210 m elevated walkway. Paduka Alinah Ahmad, Coronade Properties' director of corporate relations, said: 'As Coronation Square develops into a vibrant destination, this partnership marks an exciting new chapter in Johor's hospitality and real estate landscape.'
Malay Mail
3 days ago
- Business
- Malay Mail
Ascott, Coronade team up for five-star Coronation Square hotel in Johor Bahru
SINGAPORE, Aug 8 — Singapore-headquartered hospitality firm The Ascott Ltd has been appointed by Coronade Properties Sdn Bhd to manage the hotel component of the Coronation Square integrated development in Johor Bahru. Ascott chief growth officer Serena Lim and Coronade Properties corporate relations director Datin Paduka Alinah Ahmad signed the hotel management agreement, witnessed by Johor Menteri Besar Datuk Onn Hafiz Ghazi and Singapore Minister of State for Trade and Industry & National Development Alvin Tan, at Capital Tower here today. Operating under Ascott's flagship namesake brand, Ascott Coronation Square Johor Bahru, the five-star hotel will feature 207 rooms housed within Tower 1 of Coronation Square and is scheduled to open in the second half of 2029. Strategically located in the Ibrahim International Business District (IIBD) within the Johor-Singapore Special Economic Zone (JS-SEZ), the development will also be directly connected to the upcoming Rapid Transit System (RTS) Link, which connects Johor's Bukit Chagar with Singapore's Woodlands North. Ascott chief executive officer Kevin Goh said that as the first major hospitality partnership under the JS-SEZ framework, the project reflects the growing momentum behind cross-border collaboration and Ascott's confidence in the region's long-term prospects. 'This hotel represents a landmark debut for the Ascott brand in Johor Bahru and our sixth Ascott-branded property in Malaysia. With over 1,000 properties worldwide, this project further demonstrates our sustained growth trajectory and the strength of our partnerships across strategic markets,' he said in his welcome remarks. The other five Ascott-branded properties are in Kuala Lumpur and Penang. Meanwhile, Onn Hafiz said the partnership would not only bring a world-renowned brand to Johor and raise its international profile, but also generate employment opportunities for the local community. 'The arrival of Ascott in Coronation Square marks a turning point for Johor's hospitality landscape. It also opens doors for Johoreans not only in terms of jobs, but in exposure, capability building and industry excellence,' he said. Onn Hafiz said projects like Coronation Square attract international investors, tourists, and talents — all of whom contribute to a more diverse and resilient economy for the state. He noted that, when completed, Coronation Square will transform Johor Bahru into a new metropolis and financial hub. Currently under development, Coronation Square — launched by the Sultan of Johor, Sultan Ibrahim Almarhum Sultan Iskandar in 2015 — is a RM5 billion integrated project and marks the first initiative to kick-start the 250-acre (101.17-hectare) IIBD. Meanwhile, Tan said the JS-SEZ is a complementary and win-win initiative for both Singapore and Johor, describing it as an important development that enhances the region's value proposition as an investable location for parties outside Asean. 'It is the strength of Singapore as a global hub in research and development, and finance combined with Johor's growing talent pool and resources,' he said. — Bernama
