MENA-based Lulu hypermarket to expand to Malaysia
Lulu Group is a hypermarket chain based in Abu Dhabi. (Wikimapia)
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Middle Eastern retail major Lulu Group is in the final stages of starting its operations in Malaysia with the first hypermarket slated to open in February 2016 in Kuala Lumpur city (Jalan Munshi Abdullah), the company said in a press statement.
Elaborating the group’s plan during the official luncheon hosted by the Malaysian Prime Minister Najib Abdul Razak in honour of Prime Minister Narendra Modi in Kuala Lumpur on Monday, Yusuffali MA, Chairman and Managing Director of said, "We plan to initially invest RM1.3 billion ($300 million) in rolling out 10 hypermarkets in the next two years and gradually expand to all parts of Malaysia. Today the whole world knows about Malaysia's economic stability, investor friendly approach, liberalised policies and world-class infrastructure and we are confident about our success here."
Lulu which currently operates 118 Hypermarkets and Shopping Malls in the Middle East and India is known for its world-class shopping experience, highest quality products, competitive prices and excellent customer service. As per the Deloitte worldwide ranking Lulu is among the top 10 fastest growing retailer in the world.
"Our hypermarkets encompass both supermarket & department store formats and we intend to bring a whole new world of shopping to the residents of Malaysia. Globally, we employ more than 35,000 people from different nations and our projects here will provide 5,000 employment to Malaysians. To better equip Malaysian citizens employed by us, we will train them in all our Hypermarkets here and will also take them to our other outlets in the Middle East" Yusuffali said.
During the Malaysian Prime Minister's visit to UAE last year, the premier had personally visited Lulu Hypermarket in Abu Dhabi and had shown much appreciation for store quality, product range and especially the various Malaysian products being sold there. Lulu is also one of the biggest importers of Malaysian agricultural products and non-food products to the Middle East.
Agreements have already been finalised with prominent retail developers such as Greenhill Resources SdnBhd (Setia City Mall), KLIA Properties (for their new project in Bangi), PNB Commerce (Perling Mall in JoharBaru) and other hypermarkets will come up in KalandhanKotabaru, ShaaAalam, Ippoh, Malaka, Penang and Kuala Tringanu.
“Works of other Hypermarkets have already started with some having completed 60 per cent and some others 70 per cent” he added.
Discussions are also progressing with Federal Land Development Authority of Malaysia (FELDA) for projects in other parts of the country.
Prominent businessman Yusuff Ali MA with Prime Minister Narendra Modi and Malaysian Prime Minister Najib Abdul Razak during the official luncheon hosted by the Malaysian PM in honour of Indian PM in Kuala Lumpur on Monday.
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