Ikano Centres and Welton Group of Companies Announce Strategic Partnership for 'Habitation Plus+' Mixed-Use Residential Development at the IKEA Tebrau and Toppen Shopping Centre Destination

JOHOR BAHRU, Malaysia, May 19, 2026 /PRNewswire/ -- Ikano Centres, part of Ikano Retail, today announced that it has signed a development agreement with Welton Group of Companies for Habitation Plus+, a new residential development in Johor Bahru. Set within the vibrant Tebrau destination, it marks a significant milestone in Ikano Centres' evolution beyond retail as it expands into integrated, people-centric mixed-use developments.

This project builds on Ikano Centres' long-term land activation strategy in Tebrau. Since acquiring the land in 2008, the initial phases saw the opening of IKEA Tebrau in 2017, followed by Toppen Shopping Centre in 2019. With available capacity within the Toppen Shopping Centre site, Ikano Centres is now advancing its next phase by introducing a mixed-use residential component to further grow the destination.

Driven by a vision to create possibilities for better living, this collaboration reflects Ikano Centres' ambition to continue expanding the Toppen Shopping Centre and IKEA Tebrau destination into a more complete and connected place for everyday life. Recognising the strong market potential for affordable and mid-range residential offerings integrated within the destination, the project taps into demand for well-connected living environments.

This is further strengthened by Welton Group of Companies's proven track record in delivering quality residential projects, including the recently completed Orion Residence in Bukit Bintang, Kuala Lumpur, by integrating living, shopping, and leisure within one connected ecosystem, and combining Welton Group of Companies's residential expertise, the project aims to deliver future-ready homes designed for long-term value.

With an estimated gross development value of MYR 600 million (approximately €130 million), Habitation Plus+ will feature two residential towers with approximately 1,230 units. Planned for modern, multi-generational living, it emphasises smart space planning and practical layouts. Inspired and enabled by IKEA's approach to functional design, each home is crafted to be flexible and adaptable to evolving lifestyle needs.

"Our vision for Tebrau has always been to create a customer-centric destination that extends beyond retail," said Adrian Mirea, Managing Director of Ikano Centres. "Since the opening of IKEA Tebrau in 2017 and Toppen Shopping Centre in 2019, we have continued to invest in and evolve the destination—throughout the pandemic and beyond. This includes expanding the mall by an additional 100,000 sq. ft. of gross leasable area, introducing Johor Bahru's first Decathlon store, increasing the overall footprint by approximately 14%, and enhancing accessibility with a multi-storey car park complemented by an active lifestyle offering. These investments reflect our long-term commitment to shaping a vibrant environment where people can live, play, and connect. Habitation Plus+ represents the next phase of this evolution, completing the ecosystem with homes seamlessly integrated into everyday life."

"In partnership with Welton Group of Companies—recognised for its technology-led, innovation-driven approach and its philosophy of 'designing homes, not buildings'—we are bringing together complementary strengths in placemaking and residential development to create an ecosystem where people can truly feel at home," he added.

"We are excited to partner with Ikano Centres to set a new benchmark for urban living," said Thomas Ling, Co-founder and Director of Welton Group of Companies. "Habitation Plus+ reflects our commitment to delivering quality, well-designed homes that prioritise liveability and functionality. Inspired by IKEA's philosophy of practical and sustainable living, the mixed-use development is seamlessly integrated with Toppen Shopping Centre and IKEA Tebrau, offering a unique level of convenience and quality of life in Johor Bahru, while enhancing the surrounding urban environment."

Located next to IKEA Tebrau and Toppen Shopping Centre, it will form part of an established lifestyle hub with easy access to key routes and surrounding amenities, while complementing the existing environment to create a cohesive and well-integrated community.

Residents will enjoy a well-curated living environment, supported by a network of communal spaces that encourage social interaction and everyday moments of connection. Habitation Plus+ creates a seamless, well-connected precinct where living, leisure, and retail come together, complemented by lifestyle facilities including wellness centres, social lounges, and co-working zones that give residents the flexibility to recharge in a quiet corner or engage with a vibrant neighbourhood.

Strategically located along a key thoroughfare, the development offers accessible and intuitive connectivity for both pedestrians and vehicles, reinforcing its role within the existing ecosystem.

About Ikano Centres

Ikano Centres is part of Ikano Retail, the only IKEA franchisee in the world owned by the Kamprad family that founded IKEA. We own, develop, and manage IKEA-anchored meeting places across Southeast Asia, creating the "heart and hub" for the communities we serve. Beyond shopping centres, Ikano Centres is a developer of mixed-use real estate, integrating residential, office, and community components to build vibrant, sustainable destinations.

About Toppen Shopping Centre

Toppen Shopping Centre is a 1.25 million square foot meeting place anchored by the first IKEA store outside of the Klang Valley. The rooftop, known as The Topp, is home to the first-of-its-kind community hub, offering something for everyone, from endless fun and entertainment to alfresco dining and cinema. The centre is one among the portfolio of centres owned by Ikano Retail. Together with IKEA Tebrau, Toppen delivers a fun day out for the many people of Southern Malaysia and beyond.

About Welton Group of Companies

Established in 2012, Welton Group of Companies is a prominent Malaysian property group with diversified business activities spanning property development, construction, and property management. Guided by its core mission of seamlessly integrating technology, innovation, and comfort, the Group is committed to delivering unparalleled intrinsic value to its customers and stakeholders. With a proven portfolio of award-winning residential developments — including Green Haven in Johor Bahru and Orion Residence in the heart of Kuala Lumpur's Bukit Bintang — Welton Group of Companies has swiftly established itself as a trusted name in the Malaysian property market. Welton Group of Companies is committed to empowering communities and championing environmental, social and governance principles as it pursues its vision of shaping a world enveloped by diversity, harmony, and sustainable progress.

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SOURCE Ikano Centres