JEDDAH — LuLu Group, the Abu Dhabi-based retail major with its aggressive expansion in the Saudi Arabian market, is all set to open its first hypermarket in Jeddah, second largest city and an important commercial hub in Saudi Arabia on Sunday. It is the group's seventh store in the Kingdom and 125th globally.
Speaking to the media on the newest project, Yusuffali M.A., chairman of LuLu Group, said, “Ever since we have set foot in Saudi Arabia, we have been witnessing tremendous success in all our endeavors in the Kingdom's retail sector. We are very confident that this great country will further prosper under the visionary leadership of Custodian of the Two Holy Mosques King Salman Bin Abdulaziz, Crown Prince Muhammad Bin Naif and Deputy Crown Prince Muhammad Bin Salman.
“The government’s vision and policies, the progressive political environment and robust economy have encouraged and provided a favorable environment for us to continue to establish ourselves and contribute to the economic growth of the Kingdom. The ‘Vision 2030’, which was announced recently by Deputy Crown Prince Muhammad Bin Salman, will take the country to a new era of development and growth. The business community across the world is looking at Saudi Arabia with renewed interest which will surely push the non-oil commercial activities in the Kingdom."
Yusuffali said his group plans to launch four more hypermarkets this year, including one in Briman in Jeddah and two in Hail and Hofuf. “By 2018, we will launch eight more hypermarkets in the Kingdom including in the holy cities of Makkah and Madinah," he added.
Revealing his investment plans, Yusuffali said, “We have already invested SR1 billion and intend to further invest SR800 million in the next two years, taking our total investment to more than SR1.8 billion in the Kingdom."
"LuLu is committed to do its bit in the Kingdom by opening more outlets, thereby generating more employment opportunities to the talented Saudis. The opening of our first Hypermarket in Jeddah and seventh in the country underscores our increasing presence in the region and our commitment to serve one of the growing and important markets in Saudi Arabia,” the businessman said.
“We have always believed that it’s our duty to nurture local talent and train them in managerial positions. Currently 1,700 Saudis including women work with us and our goal is to provide employment to 5,000 Saudi nationals by the end of 2018,” said Yusuffali.
With three stores in the capital Riyadh, on each in Al-Khobar, Jubail, Dammam and eight commissaries, 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.
