Shopping Complex Once Dubbed As 'Ghost Mall' To Close Down This Month After 4 Years
Malakat Mall announced that it has transitioned its operations to online retail.
By Yap Wan Xiang — 18 Jul 2024, 06:18 PM
Malakat Mall, a shopping complex in Cyberjaya that was once dubbed the 'ghost mall', will cease operations on 31 July after four years in business
In a Facebook post published today, 17 July, the mall's founder, Fadzil Hashim, said Malakat Mall will be closed as it explores a new business model.
He cited numerous challenges, including a forced shutdown just five days after opening due to the Movement Control Order (MCO) during the COVID-19 pandemic in March 2020.
Fadzil said these challenges persisted beyond the pandemic.
Several food and beverage businesses will relocate to a nearby building, while other retail units shift online to Malakat's official website, featuring products such as apparel, accessories, stationery, books, and decorations.
"To mark Malakat Mall's closure, we are announcing a closing sale with discounts up to 70% from 20 July to 31 July," he said.
Fadzil also reassured his stakeholders and members of the Islamic Consumer Development Cooperative Malaysia of his commitment to strengthening the business.
Malakat Mall went viral in late 2022 after a TikTok video highlighted how deserted the shopping complex was
It earned the moniker 'ghost mall' from netizens and drew coverage from international news outlets like Business Insider and South Morning China Post.
The mall was originally established to empower Muslim entrepreneurs by providing spaces for business owners to sell their goods without signing a contract.
In October last year, the mall apologised to stakeholders for business challenges but pledged revitalisation efforts.
In a 2022 interview with Business Insider, Fadzil revealed that he and his partners had invested RM40 million into redeveloping the mall they acquired.
While the mall generated revenues of RM17 million to RM25 million within its first two years, the mall struggled to maintain sustainability.
