Legendary Singapore Retailer Mustafa Set To Open In Malaysia

Well-known Singapore retailer Mustafa is making its first moves into the Malaysian market, after securing retail space in a Johor Bahru mall.

Mustafa, which operates its flagship 24-hour Mustafa Centre in Singapore’s Little India district, will purchase 591 unsold retail units in Capital City Mall, said the mall’s parent company Capital World.

The RM368 million (about S$114 million) deal also includes 374 accessory parcels, comprising alfresco and multipurpose areas and all 2,181 car park lots.

With most pandemic restrictions lifted, Mr Mustaq Ahmad, Mustafa’s managing director, said the timing was right for his company to enter the Malaysian market.

“One of our key challenges until now has been finding an appropriate site,” he said. 

“Capital City Mall meets many of the requirements for our first flagship store in Malaysia, given its close proximity to Singapore, ample floor area and ideal floor plates.”

The 11-storey Capital City Mall, which was completed in April 2018 and opened in October of the same year, is located in the Tampoi suburb, around a 15-minute drive from the Johor Bahru checkpoint.

t is also part of a freehold integrated development in Tampoi which includes a 315-room hotel, an 18-storey tower with 630 serviced suites, and 690 serviced apartments across three blocks.

As part of the sale agreement, a four-storey cold storage facility will also be built within the mall by Capital World.

The mall is expected to reopen in the second half of 2023 after closing in February 2020 due to financial difficulties, said Capital World.

Capital World said proceeds from the sale will give it “the financial muscle” to build and complete the remaining components of the integrated development. 

This will also allow the company to pursue other real estate opportunities, including helping Mustafa “identify potential sale sites in Malaysia and Indonesia to develop into mega stores”.

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