JEDDAH — The Yanbu Royal Commission has signed an agreement with UAE-based retailer LuLu Group to jointly develop a shopping mall project in the port city of Yanbu. The project was awarded to LuLu after the latter won the tender process of Yanbu Royal Commission.

The agreement was signed virtually by Eng. Adnan Bin Ayesh Alwani, CEO, Royal Commission – Yanbu, KSA and Yusuff Ali MA, chairman of LuLu Group with Eng. Zaidan Yusuf – GM-investment and development, Royal Commission – Yanbu, Shehim Mohammed – director, LuLu Saudi Hypermarkets, Rafeek Mohamed Ali – regional director, Western Province, LuLu Saudi and other officials attending.

As per the agreement, LuLu along with Royal Commission will jointly establish and operate a commercial center under LuLu brand with a total area of about 40,814 square meters in Al-Fahd neighborhood in Yanbu Al-Sinaiyah.

Apart from LuLu Hypermarket and other prominent brands, the presence of world’s biggest cinema operator AMC will add more value in this this project.

Eng. Alwani, said “LuLu Group is a leading entity within the global retail industry and it will be an important component for this prestigious shopping mall project. We are delighted to welcome LuLu and are confident that the new hypermarket alongside other internationally-acclaimed retail brands will be a focal destination which will attract more visitors to this city.”

On his part, Lulu CMD Yusuff Ali said, “We are glad to associate with Saudi Yanbu Royal Commission for bringing world class shopping experience to the port city of Yanbu which will be unique of its kind.

“We also take this opportunity to extend our gratitude to the Custodian of the Two Holy Mosques King Salman, Crown Prince Muhammad Bin Salman and the government who have always given tremendous support to investments and economic development which ultimately generate more employment opportunities to the Saudi citizens.”

“It has been our policy to bring world class shopping experience closer to the people,” said Yusuff Ali. LuLu currently employs 3,000 Saudi nationals including 790 women in their various hypermarkets across the Kingdom and upon the completion of the Yanbu project, about 1,000 new employment opportunities will be created additionally, added Yusuff Ali.

Currently LuLu operates 191 Hypermarkets across GCC, Egypt, Indonesia, Malaysia and India out of which 17 are in Saudi Arabia. Apart from Hypermarkets, Lulu also operates 14 Aramco commissaries, mini markets and 8 Saudi National Guard Markets in the country.

Photo: Eng. Adnan Bin Ayesh Alwani - CEO, Royal Commission – Yanbu, KSA and Yusuff Ali MA, Chairman of LuLu Group virtually signing the Yanbu Project.