LuLu plans 32 new hypermarkets this year

LuLu plans 32 new hypermarkets this year
Sheikh Salem bin Abdul Rahman Al Qasimi, Yusuffali M.A. and guests at the launch of LuLu Group's latest hypermarket in Sharjah on Wednesday. - Supplied photo

Abu Dhabi - The group is upbeat about the economy and the vast investment opportunities.



By Staff Report

Published: Wed 27 Mar 2019, 9:34 PM

Last updated: Wed 27 Mar 2019, 11:42 PM

LuLu Group is on a massive expansion drive and set to open another 32 hypermarkets in shopping malls across the GCC countries, Egypt, Indonesia and Malaysia this year.
The announcement was made during the inauguration of LuLu's 164th hypermarket in Rolla, Sharjah. The new hypermarket, which is also eighth in Sharjah, was opened by Sheikh Salem bin Abdul Rahman Al Qasimi, Chairman of Sharjah Rulers Office.
Elaborating on group's expansion plans, LuLu Group's chairman and managing director Yusuffali M.A. said: "We are upbeat about the economy and the vast investment opportunities that lay open in the countries that we are expanding, thanks to the visionary leadership of its rulers and the authorities."
Out of the 32 hypermarkets and shopping malls, 29 will be in the GCC countries, including 12 in the UAE at various locations of Abu Dhabi, Dubai and northern emirates.
"This includes new projects in Ghadeer, Yas Island, Falah, Sadiyat, Al Rahba, Samkha, Shahama, Reem Island in Abu Dhabi. The GCC is a very important market for us and we will be investing more into the booming retail sector of this great economy. We are proud to reach out to different regions in these countries and I am sure the shoppers are pleased by the new retail experience we have created here," Yusuffali added.
Apart from its LuLu hypermarkets and shopping malls, the group is operating 10 Aramco commissaries and signed an agreement with the Saudi Arabian National Guard to open two shopping centres and seven supermarkets in Dammam and Al Ahsa, which will serve the National Guard officials and their families.
LuLu Group is also making significant investment in setting up a one-million square-feet state-of-the-art Wholesale and Logistics Centre in King Abdulla Economic City to support the retail expansion which will also help in ensuring food security in the kingdom.
Recently, the group has also signed a protocol agreement with Egyptian government to further invest in Egypt's retail sector to open four new hypermarkets, out of which two will be opened this year. Now, LuLu has one hypermarket operating in the country and four more are in the final stages of completion. So the group will have a total of nine hypermarkets by 2020.
The UAE-based leading retail chain in the region is also eyeing huge expansion in India with mega shopping malls and hypermarkets in the Indian cities of Lucknow, Vishakhapatnam, Thiruvananthapuram, Bengaluru and Chennai. Now, LuLu Mall with LuLu hypermarket in Kochi is the largest shopping mall in India.
- business@khaleejtimes.com


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