The newly-developed commercial tourism centre called B5 Johor Street Market will focus on attracting local tourists.
Damansara Asset Sdn Bhd executive director Yusaini Sidek the street market will serve as an option for locals to come with family and friends to enjoy an array of Johor cuisine at the bazaar.
“Covid-19 has made many cancel or postpone travels abroad. We hope they will come here instead,” he said, adding that the virus had affected the flow of foreign tourist into the state.
“The market was initially planned to tap into Visit Malaysia 2020 and Visit Johor 2020 campaigns.
“We had lined up various arts and cultural activities for the tourists who visit,” he said after giving media members and tourism industry players a tour of B5 Johor Street Market at Jalan Dato Muthuthambi here.
Yusaini added that the street market, a centralised retail tourism centre, was the first of its kind in the country with all of Johor’s unique features gathered in one place.
“Travel agents can help promote this place to tourists, both local and foreigners.
“We have four cultural performance every day and the attractions change every festive season and during school holidays.
“Tourists can take part in cultural activities, enjoy local food and buy local souvenirs,” he said, adding that they were targeting between five and six million visitors in the first year of the street market’s opening.
Yusaini said the market had also reached its full occupancy of 219 traders, with 40 per cent offering food and beverages and 60 per cent in the retail and culture sectors.
“Entrepreneurs are divided into three groups, retail bazaar, box park kiosk and retail lots rented out at a reasonable rate.
“The bazaar will offer different items during the day and night,” he added. The B5 Johor Street Market was developed by Johor Land Berhad (JLand) and is managed by Damansara Asset Sdn Bhd – a wholly-owned subsidiary of Johor Corporation (JCorp).
The groundwork started in February 2018 and was fully completed in February this year with a total development cost of RM40 million (S$13 million).
“We expect a return of investment of three to four per cent during this first year and see it increase to six to seven per cent subsequently,” he said.
The B5 Johor Street Market will be operating daily from 10am to 10pm.