Mustafa Centre, the famous 24-hour department store at Syed Alwi Road that is known for its large variety of goods and cheap prices, is set to expand beyond the Causeway.
The Singapore company bought 591 retail units at the Capital City Mall in Johor Bahru, as they made their first foray into Malaysia.
Straits Times reported that Mustafa had purchased 591 of the retail units at the mall for a reported fee of RM368 million (or SGD $113.7 million) from Capital World, the company that owns Capital City Mall.
Included in the multi-million dollar deal between Mustafa and Capital World are 2,181 parking spaces for vehicles, 374 accessory parcels at the mall and areas for al fresco dining and multi-purpose areas.
A 4-storey cold storage facility will also be built by Capital World within the mall, as part of the deal.
The mall is located about a 25-minute drive from Johor Customs, in the Tampoi district of Johor Bahru.
The 11-storey shopping mall was previously opened in October 2018 before close in February 2020 due to financial difficulties faced by Capital World.
With the new deal being struck with Mustafa, the mall is set to open in the 2nd half of this year, along with Mustafa’s new department store.
The managing director of Mustafa, Mustaq Ahamad, said that the time for “ripe” for their company to expand into Malaysia after establishing its presence in Singapore as the one-stop retail store for everything.
He said that they chose Capital City Mall because is it close to Singapore and that the mall had plenty of floor area.