Ibrahim International Business District (IIBD)

[shctaw]

Coronation Square — first project under IIBD transformation plan.

Coronation Square will be the first project under the Ibrahim International Business District (IIBD) transformation plan. The IIBD was launched yesterday by Sultan of Johor Sultan Ibrahim Sultan Iskandar at the Persada Johor International Convention Centre here.

The transformation plan is jointly developed by Johor Corporation (JCorp) and the state government, aiming to turn Johor Baru into a “metropolis of international standard”. It covers 250 acres (101.17ha) within Johor Baru city centre. Coronation Square was also launched at the same event by Sultan Ibrahim. This mixed development has a gross development value of RM3 billion.

JCorp is a state investment corporation established by the Johor state government with the Johor Baru City Council.

According to JCorp president and chief executive officer Datuk Kamaruzzaman Abu Kassim, the cost of the entire transformation plan for the IIBC will be between RM20 billion and RM25 billion. He added that the city infrastructure would be improved to meet the needs of the city. No deadline has been set for the completion of the entire transformation.

The area covered by the IIBC is bordered by Jalan Ayer Molek, Jalan Tun Sri Lanang, Jalan Tun Abdul Razak and Jalan Sultan Ibrahim.

Coronation Square will comprise six towers — a hotel, a hotel with residences, an office, high-rise medical suites and two serviced apartment towers — and a mall with an estimated gross floor area of 80,000 sq ft.

Kamaruzzaman said the medical suites will be managed by JCorp and KPJ Healthcare Bhd ( Valuation: 1.10, Fundamental: 0.80), and it will start operations in 2019. Besides offering modern medical services, he said there will also be “traditional and alternative treatments like Ayurveda and acupuncture by international brand operators, besides providing various healthcare facilities”.

“We expect the clientele for the medical suites to comprise locals, Asean nationalities, particularly from Singapore and Indonesia, and those from the Middle East, as well as China, [South] Korea and Japan. With the targeted international clientele as mentioned, the medical suites are expected to boost the service sector, particularly the medical tourism sector, in tandem with the state government’s aspirations to transform the state of Johor into a regional medical hub,” Kamaruzzaman emphasised.

According to Datuk Patrick Lim, managing director of developer Coronade Properties Sdn Bhd, the first serviced apartment block will be open for sale in mid-2016.

No indicative price has been set for the units, but the average size of the approximate 400 units is 600 sq ft. Lim added that Coronation Square will be developed in two phases. The first phase will comprise the office, one service apartment block, the medical suites and the hotel with residences. Construction will start in the first quarter of 2016.

Also at the event was Johor Chief Minister Datuk Seri Mohamed Khaled Nordin, who said the idea behind the development of the IIBD was to bring the city to international standards.

“This strategic development is important as Johor Baru has experienced a major population increase, which has spurred major economic growth. The existence of the IIBD in the city will enhance the standard of living of the local community,” Mohamed Khaled said.

 

[shctaw]

Main roads:

Jalan Ayer Molek, Jalan Tun Sri Lanang, Jalan Tun Abdul Razak and Jalan Sultan Ibrahim.

Picture background can see the progress of SKY88.

 

[shctaw]

SGD$6.7b (RM20b-25b) plan to turn area just after former Johor checkpoint into international business district.

Johor yesterday launched a RM20 billion (S$6.7 billion) plan to transform Johor Baru's old city centre into an international business district.

Over the next decade, the Ibrahim International Business District (IIBD) will emerge in the area, located just after the former Johor checkpoint at the end of the Woodlands Causeway. It is named after Johor Sultan Ibrahim Ismail, who celebrated his 57th birthday yesterday.

The JB city centre currently has a mix of narrow streets, old shophouses and upgraded malls such as Komtar JBCC and City Square.
The IIDB aims to improve infrastructure in the area and dot it with newer towers to leverage on its proximity to Singapore and lower costs, officials said.

"Apart from being one of the main gateways into the country, Johor Baru is located next to one of the most advanced and developing metropolises in the world, Singapore," Johor Menteri Besar Mohamed Khaled Nordin said at the project's launch, which was attended by the Johor ruler.

It is his hope, Datuk Khaled said, that IIBD will raise Johor Baru's status to become "the Second Kuala Lumpur".

The project is backed by the state's investment agency Johor Corporation, a big landowner in downtown JB, with several private developers also expected to join in.

One of the smaller projects already under way is the clean-up of Sungai Segget, one of Malaysia's dirtiest rivers, along the main downtown JB road by rediverting sewage pipes and improving its water flow. Just last week, that part of JB was inundated with dirty flood water after heavy rains.

Officials are also looking to link the malls and major buildings in the area with overhead pedestrian bridges, which some have dubbed Skywalks, similar to the popular pedestrian walkways in Bangkok.

Officials said the jewel of the upcoming business district will be a RM3 billion complex called Coronation Square. It will come up on the site of the old bus and taxi terminal, just half a kilometre from the city's transport hub and new immigration checkpoint at JB Sentral.

The 2.6-ha Coronation Square, so named to commemorate the coronation of Sultan Ibrahim in March, will contain serviced apartments, an office tower, a hotel and retail podium and a "medical suite".

Unlike a hospital, the medical facilities will offer mainly outpatient services.

It will have modern medical services along with traditional treatments such as ayurveda and acupuncture, and be marketed to international patients, said Johor Corp's president and chief executive Kamaruzzaman Abu Kassim.

The IIBD is a step away from the recent raft of residential projects launched in Nusajaya, the upcoming Johor downtown close to the Tuas Second Link.

Nusajaya today contains the new state legislature complex, government offices, landed homes and condominiums popular with Singaporeans, along with hotels and international schools.

And there are also several big coastal projects facing Singapore containing thousands of condominiums being built by major Chinese property players.

Asked whether the JB business district will add to concerns about over-building in Johor, Datuk Kamaruzzaman said while Nusajaya is located to the west of the state, the business district plan is about rejuvenating the east.

"JB is the state capital of Johor and it needs much improvements compared to Nusajaya and what's happening in other parts of Johor," he told reporters.

"Unlike some other developed cities, you don't see people with a certain degree of purchasing power in the Johor capital."

 

[ECboy]

Enough apartments pls, more legit commercial space preferred.

 

[Jetstream]

http://www.straitstimes.com/asia/johor-baru-city-centre-set-for-transformation

Johor Baru City Centre set for transformation   

$6.7b plan to turn area just after former Johor checkpoint into international business district

Reme Ahmad Assistant Foreign Editor In Johor Baru

Johor yesterday launched a RM20 billion (S$6.7 billion) plan to transform Johor Baru's old city centre into an international business district.

Over the next decade, the Ibrahim International Business District (IIBD) will emerge in the area, located just after the former Johor checkpoint at the end of the Woodlands Causeway. It is named after Johor Sultan Ibrahim Ismail, who celebrated his 57th birthday yesterday.

The JB city centre currently has a mix of narrow streets, old shophouses and upgraded malls such as Komtar JBCC and City Square.

The IIDB aims to improve infrastructure in the area and dot it with newer towers to leverage on its proximity to Singapore and lower costs, officials said.

"Apart from being one of the main gateways into the country, Johor Baru is located next to one of the most advanced and developing metropolises in the world, Singapore," Johor Menteri Besar Mohamed Khaled Nordin said at the project's launch, which was attended by the Johor ruler.

It is his hope, Datuk Khaled said, that IIBD will raise Johor Baru's status to become "the Second Kuala Lumpur".

The project is backed by the state's investment agency Johor Corporation, a big landowner in downtown JB, with several private developers also expected to join in.

One of the smaller projects already under way is the clean-up of Sungai Segget, one of Malaysia's dirtiest rivers, along the main downtown JB road by rediverting sewage pipes and improving its water flow. Just last week, that part of JB was inundated with dirty flood water after heavy rains.

Officials are also looking to link the malls and major buildings in the area with overhead pedestrian bridges, which some have dubbed Skywalks, similar to the popular pedestrian walkways in Bangkok.

Officials said the jewel of the upcoming business district will be a RM3 billion complex called Coronation Square. It will come up on the site of the old bus and taxi terminal, just half a kilometre from the city's transport hub and new immigration checkpoint at JB Sentral.

The 2.6-ha Coronation Square, so named to commemorate the coronation of Sultan Ibrahim in March, will contain serviced apartments, an office tower, a hotel and retail podium and a "medical suite".

Unlike a hospital, the medical facilities will offer mainly outpatient services.

It will have modern medical services along with traditional treatments such as ayurveda and acupuncture, and be marketed to international patients, said Johor Corp's president and chief executive Kamaruzzaman Abu Kassim.

The IIBD is a step away from the recent raft of residential projects launched in Nusajaya, the upcoming Johor downtown close to the Tuas Second Link.

Nusajaya today contains the new state legislature complex, government offices, landed homes and condominiums popular with Singaporeans, along with hotels and international schools.

And there are also several big coastal projects facing Singapore containing thousands of condominiums being built by major Chinese property players.

Asked whether the JB business district will add to concerns about over-building in Johor, Datuk Kamaruzzaman said while Nusajaya is located to the west of the state, the business district plan is about rejuvenating the east.

"JB is the state capital of Johor and it needs much improvements compared to Nusajaya and what's happening in other parts of Johor," he told reporters.

"Unlike some other developed cities, you don't see people with a certain degree of purchasing power in the Johor capital."

  

 

[whoami]

U guys just wait. Some wet blanket will come here and bad mouth IIBD.

 

[Frodo]

U guys just wait. Some wet blanket will come here and bad mouth IIBD.

Sour grapes syndrome?

 

[cybermad]

U guys just wait. Some wet blanket will come here and bad mouth IIBD.

haha, am patiently waiting also ! paging, paging XXXXX11

 

[cow138]

A positive development. The city centre is like a throw back to the 70S

 

[toyohon]

haha, am patiently waiting also ! paging, paging XXXXX11

The joker who's hoping and clamouring for the RM$1M threshold to be brought down so that fire sales will be conducted this coming Xmas or CNY!

 

[Tekkun]

The joker who's hoping and clamouring for the RM$1M threshold to be brought down so that fire sales will be conducted this coming Xmas or CNY!

Too cheap, cannot buy cos market crashed. Too expensive, also cannot buy cos no tenants, market crashed.
It will be oversupply + oversupply. Die die also cannot buy.

 

[xebay11]

So you want me to post or not? I got so many requests here lol

 

[xebay11]

The joker who's hoping and clamouring for the RM$1M threshold to be brought down so that fire sales will be conducted this coming Xmas or CNY!

My dear friend, that is the MOST stupid statement I ever heard, you are obviously not a seasoned property investor, any two bit property investor will never talk down the market to get good deals, they make friends with lawyers, bankers and real estate agents and zoom in on fire sales, they buy and make money immediately, talking down the market means everything down, how to make money? Ayo!

 

[xebay11]

Too cheap, cannot buy cos market crashed. Too expensive, also cannot buy cos no tenants, market crashed.
It will be oversupply + oversupply. Die die also cannot buy.

Of course ahbuden, you are quite seasoned a property investor yourself, would you go in on any of these conditions? Property investments is all about pricing AND timing. Oh maybe you are not that good, you went in even on condition number three.

 

[xebay11]

haha, am patiently waiting also ! paging, paging XXXXX11

Siang kah pager?

 

[xebay11]

Sour grapes syndrome?

Aya just because I know you did well, does not mean others missed the boat and jealous of you, I have properties that would make you drool in Melbourne Australia and I don't say you are sour grapes.

 

[xebay11]

Dun feed the Troll... Lol

Too late they fed already, burp!

 

[Tekkun]

IGNORE the Troll

 

[xebay11]

IGNORE the Troll

Strange way of ignoring, first bait me, then cannot counter me, now want to ignore and seek security in numbers. Pathetic!

 

[whoami]

The joker who's hoping and clamouring for the RM$1M threshold to be brought down so that fire sales will be conducted this coming Xmas or CNY!

Correct. I saw him repeating several times 1million threshold should be removed. I also wonder out loud y he keep posting in JB thread when he had so much "negative" feedback on Iskandar region? Yes....he missed the boat.