Bank Rakyat Tower in Coronation Square, Johor to be digital hub - MIDA | Malaysian Investment Development Authority
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Bank Rakyat Tower in Coronation Square, Johor to be digital hub

Bank Rakyat Tower in Coronation Square, Johor to be digital hub

18 Feb 2022

Bank Rakyat plans to make the 35-storey Bank Rakyat Tower within an area of 550,000 square feet as a digital hub  in the 2.3-hectare Coronation Square, an integrated development within the Ibrahim International Business District (IIBD) project.

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said this will transform the place into a digital business hub.

“When there is digitalisation, we know this future platform will play an important role, and so in this place and building, we will make it as a digital business hub for banking transactions, entrepreneurship, business and whatever transactions that adopt digitalisation,” he told reporters after the site visit of Bank Rakyat Tower in Coronation Square today.

Noh said that with its strategic location next to Singapore, it would certainly be an attraction for foreign investors to conduct business activities, which in turn, would be a catalyst for the transformation of an international city.

“The Bank Rakyat Tower project, even though it was previously slightly  delayed due to the COVID-19 pandemic,  is slated to be completed in July this year  as promised.

The project is 85 per cent completed. We hope the project will not only be the pinnacle of success for Bank Rakyat in the Southern Zone but also for Coronation Square to be the pinnacle of success and development in the state,” he said.

Noh said the tower would also have a more efficient digital business and as a training centre for entrepreneurs.

He said the Ministry of Entrepreneur Development and Cooperatives (MEDAC) has decided to place 11 of its agencies in Bank Rakyat Tower for the development planning of entrepreneurs.

On March 23, 2016, the Sultan of Johor, Sultan Ibrahim Iskandar  officiated the model for the Bank Rakyat Tower, Johor,  which was previously expected to be completed in 2019.

Source: Bernama