Lulu Group, Abu Dhabi based retail major further expanded its operations in the hugely potential KSA market with the opening of its 125th hypermarket in Jeddah on 29 May. It’s the 7th lulu hypermarket in Saudi Arabia while 12 more are slated to be open by 2018.
The latest hypermarket which located conveniently in Amir Fawaz district of Jeddah was inaugurated by H.R.H Prince Saud Bin Abdullah Bin Abdul Aziz and HE Mazen Mohammed Batterjee, Vice Chairman of Jeddah Chamber of Commerce in the presence of many top officials and dignitaries including UAE Consul General H.E. Arif Ali Al Taboor Al Nuaimi .
Speaking to media after the launch, Yusuffali MA, Chairman of LULU Group, said, "We plan to launch 4 more hypermarkets this year, including one more in Jeddah and one each in Hail and Hofuf. By 2018, we will launch 8 more Hypermarkets in the Kingdom including the holy cities of Makkah and Madina”.
Revealing his investment plans, Yusuffali said, “We have already invested SAR 1 billion and intend to further invest SAR 800 million in the next two years, taking our total investment to more than SAR 1.8 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 HRH Mohamed bin Salman bin Abdulaziz Al Saud. I am really excited by the new 2030 vision declared recently by the Deputy Crown Prince Moahammed Bin Salman and will explore all avenues to further boost our group's investment here".
With 3 stores in Capital Riyadh, 1 each in Al Khobar, Jubail, Dammam and 8 Commissaries in its entity, LuLu has firmly established itself as one of the most preferred retail destination for both locals and the large expatriate community residing in the Kingdom. The newest hypermarket is spread across an area of over 200,000 sq. ft. and has the widest range of world class products at most competitive prices.