when the first shopping mall in the city to be co-owned and managed by a foreign company plans to open its doors.
The shopping mall, which investors expect to cost approximately $70 million to build, will be 51 percent owned by the municipality and 49 percent by the partially Malaysian Neguin Group of Companies. Malaysian products, particularly from small and medium-sized industries, will be sold in a Malaysia department store in the megamall.
“Most people in Iran shop in bazaars and we hope that the idea [of shopping in shopping malls] will be a hit as many Iranians often come here [to Malaysia] for their shopping,” said Dr Abdul Rahman Bidin, executive director of the Neguin Group at a press conference in Malaysia last week.