Kuala Lumpur, 27 August 2025 – IGB Bhd is expanding its southern presence through a joint venture with Southkey City Sdn Bhd (SCSB) to develop an integrated mixed-use project in Johor Bahru’s Southkey area.
The development, to be undertaken by Enrich Horizon Sdn Bhd (EHSB) – a newly established joint venture company where IGB Corporation Bhd will hold a 70% stake – involves the acquisition of two parcels of leasehold land spanning 7.97 hectares for RM214.97 million.
Development Vision and Strategic Alignment
IGB said the project will combine retail, hospitality, and commercial components, designed as a long-term investment to complement the region’s growing economy.
The venture will align with catalytic developments in Johor, particularly the Johor-Singapore Special Economic Zone (JS-SEZ) and the Johor Bahru–Singapore Rapid Transit System (RTS) Link, slated for completion in 2026.
“Together with our existing Mid Valley Southkey assets, the enlarged development is envisioned to eventually mirror the scale and vibrancy of Mid Valley City in Kuala Lumpur,” IGB said in a statement.
The land parcels are located adjacent to the Group’s Mid Valley Southkey developments, reinforcing IGB’s ambition to build a comprehensive urban hub in Johor Bahru.
Timeline and Next Steps
The acquisition remains subject to approval from the Ministry of Economy, with completion targeted for the first half of 2026. Once approved, the project is expected to further position Johor Bahru as a key property and commercial hotspot, benefiting from increasing cross-border investment flows.
