Being well-known as one of many greatest and most cheap purchasing locations in Singapore, Mustafa Centre is a favorite place for a lot of vacationers and native residents— particularly because it presents every kind of merchandise.
Most not too long ago, the famend Singaporean retailer introduced that it’s set to open its flagship retailer in Tampoi, Johor Bahru quickly.
This is following the announcement made by Capital World Ltd (Capital World) that it’ll promote many of the area, together with retail models at its Capital City Mall to Mustafa for RM368 million. The RM368 million deal additionally contains 374 accent parcels, comprising alfresco and multipurpose areas and all 2,181 automotive park heaps.
The buy marks Mustafa’s first foray as a full-fledged division retailer operator in Malaysia, a promote it has been seeking to penetrate for years.
“Having established ourselves in Singapore as a mega one-stop retail store for everything from fast-moving consumer goods to fashion, cosmetics and electronics, we believe the time is ripe for us to get into Malaysia,” mentioned Mustafa’s managing director, Mustaq Ahmad in a press release launched on Singapore Exchange on Friday.
Mustafa is among the most established retailers in Singapore, having been in enterprise for greater than 5 many years. Its flagship Mustafa Centre at Syed Alwi Road presents a variety of products on the market, together with client electronics, jewelry, toys, style and attire, cosmetics, and fast-moving client items.
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