Mydin’s opening at CityONE a strategic move
KUCHING: Mydin’s opening at CityONE Megamall Kuching (CityONE) later this year has been viewed as a strategic move as the group branches out in Sarawak, catering to a particular market segment who are prudent in expenditure.
CityONE hosted the official signing ceremony of Memorandum of Understanding (MoU) between Mydin Mohamed Holdings Bhd and the property developer Kenbest Sdn Bhd.
The occasion was witnessed by deputy chief minister, Minister of Urban Housing and Urbanisation and Minister of Tourism , Arts and Culture Datuk Amar Abang Johari Bin Tun Abang Openg, Kenbest managing director Stephen Long and Mydin executive director Dato’ Murad Ali Bin Mydin which represented their respective companies.
Johari lauded the MoU between the two companies to bring Mydin to Sarawak, specifically Kuching to operate in a strategic place such as CityONE. CityONE has been chosen as Mydin’s second outlet in Sarawak, occupying approximately 90,000 square feet of floor space.
CityONE is located at a residential area that is close to protocol roads thus giving the hypermarket great exposure to a wide variety of consumers.
The opening of Mydin at CityONE will also ensure grpowth in a socioeconomic aspect in that it will not only offer m ore job opportunities to the locals , but also offer an assortment of items of good quality at a wholesale price to its customers, while at the same time cater for the consumers that CityONE shares.
Abang Johari noted that Mydin has a special market segment in terms of affordable products and believes that once the CityONE outlet opens, along with its respective outlets in Petra Jaya and Samariang, the group will have captured that particularly active segment of the population.
According to the principal Mydin architect Hiew Hong Keat of Keat Hiew Architect, during the press conference, Mydin is ready to invest up to RM500 million in the next five projects.
“For Kuching, we are opening three for this year,” he said. “On the Samariang outlet which will be open today (Friday), it has an investment of RM70 million.
“CityONE, which is expected to open in December 2016 has a RM25 million investment while the Petra Jaya outlet has an investment of RM166 million.”
Mydin’s expansion into Sarawak will be creating job opprotunities for up to 1,000 locals.