Possible Completion of Tampoi's RM1.8 billion Capital City Project

Feb 02, 2023

Key takeaway: The RM1.8 billion integrated development project in Tampoi, Johor Bharu, of property developer Capital World Ltd, which is listed on the Singapore Stock Exchange, could eventually be finished. Following that, the company may look for further real estate possibilities.

As part of its entry into the Malaysian market, Singaporean retailer Mustafa purchased 591 vacant retail spaces in Capital City Mall from Capital World for RM368 million.

The total net lettable space included in the acquisition is 641,216 square feet. It will also buy all 2181 parking spaces and 1.28 million square feet of outdoor and multipurpose space.

The 1,602 strata-title retail units in the 11-story mall have a combined net lettable space of 902,994 square feet.

The 315-room hotel, an 18-storey tower with 630 serviced suites, and 690 serviced flats spread across three blocks are all included in the integrated complex.