2 days ago
Ascott, Coronade Properties ink hotel management agreement for Coronation Square
SINGAPORE: 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
