Tag: Capital 21

  • Johor set to open Capital 21 in August

    Johor set to open Capital 21 in August

    An August opening date has been set for Malaysia’s Capital 21 mall, with its museum and indoor theme park.

    Initially the development was scheduled to open earlier this year.

    Being developed in Johor Baru by Capital World, the 1.4 million square-foot (130,000sqm) shopping mall will include three floors of retail alongside the MCM Studio indoor theme park, being promoted as the largest in Southeast Asia and the fifth largest in the world.

    It will have three themed sections: Cartoon Planet (animated characters), Movie Planet (Transformers, Dinosaur World and Haunted House themes involving augmented- and virtual-reality technologies) and Music Planet, with a circus tent and also offering music and theatrical events.

    Two hotels are also under development for the complex, a Hilton Garden Inn and The Planet Hotel, both expected to open next year.

    On the mall’s 11th floor, the First World Museum will offer the culture, landmarks and history of 21 countries.

    “With the rise of online shopping and e-commerce, we changed strategy many years ago,” says Capital World group director Siow Chien Fu. “Our theme park is the major attraction for this project, supported by the shopping centre.”

    Near the causeway link to Singapore, Capital World believes the theme park will appeal to its residents despite competition from Universal Studios Singapore.

  • Capital 21 mall to be largest in Johor Baru

    Capital 21 mall to be largest in Johor Baru

    Being built by Singapore-listed Capital City Group, Johor Baru’s largest mall Capital 21 will have a gross floor area of 1 million sqft (92,903 sqm) when it opens early next year.

    The mall will be part of Project Capital City, which includes a hotel and residential component. More than 60 per cent of the retail units have been sold.

    Capital City CEO Siow Chien Fu says he is bullish about prospects. “Johor Baru is the second-largest city in Malaysia and it still lacks this type of large shopping centre.”

    Capital City will have 690 serviced apartments and 630 hotel-style serviced suites.

    While the serviced suites have not been launched, 28.6 per cent of the units have been sold.

    “People have been talking about an oversupply of housing in Kuala Lumpur for years, but there has still been good take-up. I’m not worried. Johor Baru is big enough and the state is doing a lot of development, like industrial parks,” says Siow.

    Capital City is the company’s first development and veteran architect-turned-developer Siow is confident of its asset-light business strategy. Unlike traditional property developers, Capital World will not own land. Instead, it works with landowners in joint ventures to develop assets.

    Its pipeline of projects includes another integrated development of retail, office, hotel and residential apartments in Johor Baru.