Cover Story: BCB maps its next phase of growth across Johor

JOHOR, 14 OCTOBER 2026 —

For Johor-based BCB Bhd (KL: BCB ), Johor’s next phase of growth is not about chasing the latest property cycle, but positioning its developments in the state’s evolving economic landscape.

Its plans span commercial and residential projects in Iskandar Puteri and Batu Pahat, as well as potential industrial development in Kluang. The combination of the Johor-Singapore Special Economic Zone (JS-SEZ), the upcoming Johor Bahru–Singapore Rapid Transit System (RTS) Link and improving rail connectivity, she adds, is changing the way people and businesses move around the state.

She notes that the current growth phase differs from the earlier development cycle under Iskandar Malaysia, as Johor now has stronger integration with Singapore alongside the more tangible improvements in connectivity. “Johor is entering a structural growth phase, not just another property cycle. The catalysts are reshaping the state’s long-term trajectory,” she explains. “It’s not just about a plan or a policy.

It’s about real transportation, connecting and bringing in the population.” For BCB, these changes are creating opportunities beyond the immediate impact on property prices. Increased movement of people and businesses is supporting activity in sectors such as hotels, F&B and commercial services, while businesses are showing greater willingness to buy their own premises. Tan also points to the rail connection between Johor and Kuala Lumpur, which she says is increasingly being used by business travellers.

“All these are bringing value and confidence to the property market.” One of BCB’s key focus areas remains Iskandar Puteri, where it has several commercial and residential projects in the pipeline. Among them is Lumina Commercial Park, a 35-acre development. BCB is now preparing to launch its second phase, which has an estimated gross development value (GDV) of RM200.23 million.

Tan says demand for the earlier phase was strong, with the international units fully taken up within three months. “A lot of people ask whether the buyers are Singaporeans, but I would say the percentage is very low … Many of them are business owners,” she explains.

“This is not a trend that we saw five or six years ago.” The demand, she says, reflects a broader shift among F&B operators and other businesses that are choosing to buy their premises rather than be tenants. For BCB, the change is significant because it points to demand arising from actual business activity rather than purely investment purposes.

The developer is also working on another commercial development called Versis 2 in Iskandar Puteri, which has an estimated GDV of RM225.53 million. The developments are being positioned in the southern Johor market, which Tan expects to continue benefiting from connectivity to Singapore, industrial expansion and infrastructure investment. At the same time, BCB is keeping its residential strategy focused on practical demand.

While buyers have become more selective about residential products on the market, Tan says the company’s residential developments continue to receive support from owner-occupiers and local upgraders. She explains that buyers are more mindful about practicality, liveability, maintenance costs, sustainability features and long-term value retention, rather than focusing solely on short-term capital appreciation. This means balancing product quality with affordability as construction and compliance costs rise.

She also highlights that the group is responding by optimising planning and design efficiencies while maintaining the quality of its products. While Iskandar Puteri remains an important part of BCB’s pipeline, the developer is also preparing for opportunities arising from industrial spillover into other parts of the state. Batu Pahat is a key example.

BCB has had a presence in the town for decades, with its developments there traditionally centred on landed township projects and largely supported by owner-occupiers. Now, the group is looking at a different segment. It has acquired over 280 acres of agricultural land and Tan says the group is in the process of converting them for industrial development.

The project remains at the planning and submission stage, but she says the group has already received interest from potential investors. “We do expect a spillover effect [from JS-SEZ], especially in manufacturing and industrial activity, into other parts of Johor,” says Tan. She expects the rising cost of industrial land and property in Johor Bahru to encourage companies to consider locations farther afield.

This could create opportunities for towns with existing populations, business communities and improving connectivity. Tan says connectivity will be particularly important for the success of such locations. She explains that Batu Pahat could benefit from improved regional accessibility, particularly if the West Coast Expressway connection progresses, while the proposed industrial development could provide BCB with a new avenue for growth beyond its traditional township business.

Kluang is another location that BCB is watching as the state’s growth pattern evolves. Tan says the group acquired two small parcels of commercial land there last year as it assesses the town’s medium-term potential. She says improving rail connectivity and growing tourism activity are among the factors supporting Kluang’s longer-term prospects. For BCB, the strategy is not to assume that every location will follow the same growth trajectory as Johor Bahru.

Instead, it is assessing each market based on its economic drivers, infrastructure and underlying demand. “We believe Johor’s growth story is becoming increasingly multi-nodal rather than concentrated solely within Johor Bahru city centre,” says Tan. While Johor Bahru will remain the state’s main gateway because of its proximity and connectivity to Singapore, BCB expects population growth, infrastructure improvements and industrial activity to create opportunities in other centres.

This multi-nodal approach is reflected in the company’s development strategy, which combines its established presence in southern Johor with longer-term opportunities in places such as Batu Pahat and Kluang. BCB’s Johor plans are part of a wider business development pipeline, which also includes projects in the Klang Valley. Its total undeveloped land bank currently stands at 811 acres across the nation.

Related: BCB Bhd · Lindy Tan · Johor