By Sharen Kaur
KUALA LUMPUR: Allgreen Group, the owner of Johor Baru City Square (JBCS), has unveiled a landmark Asset Enhancement Initiative (AEI), a multi-phase redevelopment plan designed to reposition the iconic mall as a next-generation retail and lifestyle destination by the fourth quarter of 2027 (Q4 2027).
According to a statement, the AEI will commence this month and be implemented in five carefully planned phases, ensuring that the mall remains fully operational throughout the process. While the company did not disclose the project's estimated cost, the redevelopment is expected to significantly elevate JBCS's appeal, introducing modern retail concepts, enhanced leisure spaces, and upgraded facilities to meet evolving consumer preferences.
This initiative represents the most extensive upgrade to JBCS since its completion in 1999, signalling Allgreen's long-term confidence in Johor Bahru's economic and retail potential, particularly given its strategic proximity to Singapore and growing cross-border traffic.
Allgreen Group is majority-owned by the business interests of Tan Sri Robert Kuok and his family's real estate investment arms, including entities such as Kerry Group and Brookvale Investments.
In May 2024, Kuok's Allgreen Properties Ltd reacquired JBCS from Singapore's sovereign wealth fund, GIC Real Estate (GIC RE) Pte Ltd. Following the acquisition, the Kuok Group reportedly holds a 76 per cent stake in the mall through two associated companies.
Previously, Johor Bahru City Council, Kuok Brothers' Pelangi Group, Lee Brothers, and Kuok Brothers were among the consortium that purchased JBCS from GIC RE in 2004, after GIC RE had reportedly paid nearly RM500 million for the stake.
Under the AEI plan, JBCS will introduce a modern façade, reimagined interiors, and an expanded retail mix to enhance shopper experience and tenant diversity. The mall's net lettable area will increase from 547,076 sq ft to 568,927 sq ft, housing over 300 tenants across themed retail zones spanning fashion, wellness, technology, and experiential leisure.
New lifestyle components will include a 15,000 sq ft Kids Adventure Park, a 41,300 sq ft wellness hub dedicated to holistic living, and flexible event spaces to support community engagement and pop-up experiences.
In addition, JBCS will expand its footprint beyond retail with hotel apartments slated for completion in Q2 2028, introducing a live-work-play concept that integrates hospitality, retail, and lifestyle under one address in Johor Bahru's city centre.
"Our transformation is not just about unveiling a striking new look – it's about shaping a future-ready destination," said Tho Leong Chye, managing director of Allgreen Group.
Tho said by combining refreshed spaces with a curated mix of new brands and experiences, the group is investing in JBCS' future to ensure it continues to thrive as the vibrant heart of retail, leisure, and lifestyle.
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