iPhone | iPad
Android
Huawei
Second quarter net operating income of Dh6 million compared to Dh24 million in Q1 2022 mainly due to lower trading revenues; Net loss attributable to shareholders of Dh170 million in Q2 2022 compared to net income of Dh6 million in Q1 2022
KT APPDOWNLOAD
LuLu launches new hypermarket and e-commerce fulfillment centre
Dubai - The new two-level store covers a total built-up area of 184,000 square feet.
Supplied photo
Leading retailer LuLu further strengthened its presence in the Emirate of Dubai with the grand opening of its world-class hypermarket at Silicon Central Mall, the newest retail and lifestyle destination located at the heart of Dubai Silicon Oasis’ integrated free zone technology park.
Dr. Juma Al Matrooshi, Deputy CEO of Dubai Silicon Oasis Authority, officially inaugurated the LuLu Hypermarket, in the presence of Ashraf Ali M.A., Executive Director of LuLu Group, and other officials. In the same day for a back-to-back launch, LuLu’s exclusive fulfillment centre in Al Quoz, Dubai was inaugurated.
Increasing the Group’s store count to 209 globally, the new two-level store covers a total built-up area of 184,000 square feet with a full-fledged supermarket and department store—providing grocery, fashion, and lifestyle products in a one-stop shop. It will serve the premium community within its catchment area, as it is strategically located in close proximity to residential communities, such as Nad Al Shiba, The Villa, Al Barari, Warqaa 2 to 5, and Arabian Ranches.
Dr. Juma Al Matrooshi said: "The opening of the new, largest of its kind hypermarket in Dubai, is a valuable addition to the range of options available to the Dubai Silicon Oasis community, as a preferred destination to work and live. In line with the Smart Dubai strategy, and its position within the Dubai 2040 Urban Master Plan as a knowledge and innovation center, Dubai Silicon Oasis continues to expand its contribution to transforming Dubai into a global destination by providing a wide diversity of lifestyle and investment opportunities for citizens, residents and visitors over the next 20 years."
He added: "This opening is testament to the continuously evolving landscape at Dubai Silicon Oasis that attracts mega projects and investors from across industries. We welcome LuLu to the DSO community, and we are confident that the hypermarket will offer an exceptional experience to its population of 90,000."
Ashraf Ali M.A said: “We are proud to see another great retail addition for the growing community of loyal patrons in the smart and sustainable city of Dubai Silicon Oasis. Over the years of catering to different nationalities, we have seen the growing demand for internationally sourced products and speciality range based on food trends from around the world. It will be our continuous commitment to offer high-quality products at the most affordable prices in the market.”
To better support its online shopping operations and widen its reach, the 60,000 square feet state-of-the-art logistics centre will house top-rated facilities and smart warehousing devices that organise and store all product categories, from fresh and frozen foods to other non-grocery products. This fulfillment centre has temperature-controlled spaces and food preparation amenities for safe and hygienic food handling.
Ashraf Ali said: “We are proud to launch the Group’s third fulfillment centre in the world. This new logistics hub will definitely strengthen our regional operations with safe, convenient, and faster service in organising orders. We are also working hand in hand with our global contact centre in India for customer service support to better reach and serve our shoppers, as we expect a significant increase in the coming months.”
As part of LuLu’s expansion plans in Dubai this year, plans are afoot for three new hypermarkets in Satwa, Dubai South, and Mankhool. In other Emirates, various locations, such as Buteena and Samnan in Sharjah; Riyadh City, Shamkha, and Al Wathba in Abu Dhabi, will expect new stores as well.
In the first quarter of 2021 (from January to March), the Group launched 10 new hypermarkets across the GCC and Far East, and celebrated its 200th store milestone with the opening of hypermarket in New Cairo, Egypt, along with UAE, Oman, Saudi Arabia, and Kuwait. — business@khaleejtimes.com
More news from Business
The UAE, the company’s largest market, saw high growth in merchant payments processed from domestic consumers at 20 per cent year on year, and payments from international visitors growing 92 per cent
The company's strong balance sheet will support the company’s growth strategy, including investments in digital and technological infrastructure as well as its active merger and acquisition pipeline
The company’s revenue increased 31 per cent to Dh1.041 billion as compared to Dh792 million in first half of 2021 while its operating costs dropped 16 per cent
Kashkari sticks to his view of 3.9% Fed funds rate at end-2022; Evans sees 3.4% policy rate this year; Both push back on market expectation for rate cuts next year; Inflation, employment data to determine size of Sept rate hike
Approval would save time, money on Asian routes; Q2 net profit $100m versus loss of $81m a year ago; Revenue up sharply, but still below Q2 in 2019
The transaction includes solar power projects in Turkey’s Karapanar and Gaziantep regions and a wind power project in Ankara
The five-year contract was awarded by Adnoc Offshore to Adnoc Logistics and Services (Adnoc L&S) and underpins the world-class capabilities within Adnoc’s group companies