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LuLu expands in Saudi-total investment to touch SAR 1.5 billion in 2 years
January 13, 2016, 4:51 pm
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Marching ahead with its aggressive expansion in the Saudi Arabian market, Middle East’s retail major, Lulu Hypermarkets has opened its latest outlet in Dammam, the capital city of Eastern province of Saudi Arabia. It’s the 6th in the Kingdom and 121st in the GCC. The latest hypermarket was officially inaugurated by H.R.H. Prince Saud bin Abdullah bin Abdul Aziz, on Wednesday, 13 January, 2016. The occasion was graced by Engineer Abdullah Al Ahamed, President of Dammam Municipality and several high ranking officials from various government departments, representatives from local business community and prominent citizens.

Speaking at the inauguration, Lulu group chairman Yusuffali M.A. announced the proposed launch of 4 more hypermarkets this year, 2 in Jeddah and one each in Hail and Hofuf. “In 2017 we will launch 6 more in the Kingdom including in Makkah and Madina,” added Yusuff Ali.

The new hypermarket, located in Prince Mohamed bin Fahad Road in Dammam provides a one-stop shopping destination for the growing city dwellers, which include a growing community of Nationals and expatriates.  The hypermarket also houses Sparkys family entertainment, food court consisting of authentic Arabic fine dining, Arabic and Filipino cuisine, and Coffee shops, Pharmacy from ATM and money exchange.

Revealing his investment plans, Yusuff Ali said, “we have already invested more than SAR 800 million till now and intend to further invest SAR 700 million by the end of 2017, taking our total investment to more than SAR 1.5 billion in the Kingdom”.

"We are very confident that this great country will further prosper under the visionary leadership of H.R.H King Salman bin Abdulaziz Al Saud, Crown Prince H.R.H Muhamed bin Nayef bin Abdulaziz Al Saud & Deputy Crown Prince H.R.H Mohamed bin Salman bin Abdulaziz Al Saud. “The support and love extended by the Rulers gives us further impetus to serve the growing economy of this country. Lulu is committed to do its bit to help the kingdom by opening more outlets, thereby generating employment opportunities to talented Saudis. The opening of the Hypermarket in Dammam underscores our increasing presence in the region and our commitment to serve one of the growing and important markets in Saudi Arabia.”

“We have always believed that it’s our duty to nurture the local talent and currently there are more than 1500 Saudis who work with us and our goal is to provide employment to 5000 Saudi nationals by the end of 2017,” said Yusuff Ali. Currently LuLu has more than 30 percent Saudis in their workforce and provides best quality training to absorb them in various managerial and specialized sections.

Other important attendees at the inauguration: LuLu Group Executive Director – Ashraf Ali MA, Directors – Althaf Mohamed and Salim MA, Regional Directors of Saudi Arabia – Abdul Basheer, Mohammed Shehim and Mohammed Mustafa.

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