CYBERJAYA, July 19 — Malakat Mall initially launched to empower Muslim entrepreneurs and later dubbed the ‘ghost mall,’ is set to shut its doors on July 31 after four years of operation, according to a Facebook post by its founder, Fadzil Hashim.
In his announcement, Fadzil mentioned that the closure is aimed at exploring a new business model but did not provide further details.
He highlighted several challenges faced by the mall, starting with a forced closure just five days after its opening due to the movement control order (MCO) during the Covid-19 pandemic in March 2020. These difficulties, he said, persisted even after the pandemic.
“To mark Malakat Mall’s closure, we are announcing a closing sale with discounts up to 70 per cent from July 20 to July 31,” Fadzil said.
Malakat Mall garnered attention in late 2022 when a TikTok video highlighted its desolate state.
In 2022, Fadzil and his partners reportedly invested RM40 million into redeveloping the mall. Despite generating revenues of RM17 million to RM25 million in its first two years, the mall struggled with sustainability.
Cyberjaya, envisioned in 1997 by former Prime Minister Tun Dr. Mahathir Mohamad as a “multimedia economy” akin to Silicon Valley, has faced numerous challenges.
Now home to over 100,000 residents, the city is often seen as a “failure” with few signs of the anticipated tech boom.
Instead of hosting unicorn startups and major tech offices, Cyberjaya has become known for its affordable rent and low-cost living, marked by nearly deserted spaces, contrasting sharply with the image of Silicon Valley.
