Mustafa Centre is a household name in Singapore known for its large variety of goods at inexpensive prices.
Soon, Mustafa – the company behind the 24-hour department store – will be making its first foray into the market across the Causeway.
The homegrown company has reportedly purchased 591 retail units at Capital City Mall in Johor Bahru (JB).
Source: Google Maps
While information about the new venture remains scarce, the new Mustafa department store is slated to open in the second half of 2023.
Citing a bourse filing by Capital World – the company that owns Capital City Mall – The Straits Times (ST) reported that Mustafa will buy 591 unsold retail units for S$113.7 million (RM368 million).
Source: Capital City 21 on Facebook
The deal includes the following amenities:
Capital World will also be building a 4-storey cold storage facility within the mall as part of the deal.
Capital City Mall, located in the Tampoi district of JB, is about a 25-minute drive from the Johor Customs.
Shortly after its opening in October 2018, the 11-storey mall closed in February 2020 after Capital World reportedly ran into some financial troubles.
Following the agreement with Mustafa, the mall will likely open in the latter half of 2023, together with the new department store.
Further information regarding the new outlet remains unclear at the time of writing.
Speaking about the new venture, Mustaq Ahamad, managing director of Mustafa, said “the time was ripe” for the company to enter Malaysia after establishing itself in Singapore as a “one-stop retail store for everything”.
The decision to pick Capital City Mall as the location for their first Malaysian store is apparently due to its close proximity to Singapore.
Moreover, the mall has ample floor area and ideal floor plates.
Seeing a homegrown company making the leap into a foreign market and expanding its customer base is always heartening.
We hope Mustafa enjoys the same level of success in Malaysia as it has here in Singapore and will establish itself as a one-stop destination for various products there too.
As for Singaporeans who frequently travel to JB for their grocery runs, be sure to keep your eyes peeled on news about the outlet’s opening. Who knows, products there might even be cheaper than the outlet here in Singapore.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Google Maps.
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