Ascott, the lodging arm of CapitaLand Investment, has signed an agreement with Malaysian developer Coronade Properties to manage a new five-star hotel in Johor Bahru’s Ibrahim International Business District, part of the Johor-Singapore Special Economic Zone (JS-SEZ).
The deal marks the first major hospitality partnership since the JS-SEZ agreement between Malaysia and Singapore in January 2025.
The 207-room Ascott Coronation Square Johor Bahru will occupy Tower 1 of the RM5 billion Coronation Square development and cater to growing demand from cross-border business, tourism, and investment.
Ascott CEO Kevin Goh said the project reflects strong cross-border cooperation and confidence in the region’s growth, while Singapore’s Minister of State for Trade and Industry Alvin Tan highlighted the JS-SEZ’s appeal for global investors.
