Lulu Group will open eight more hypermarket in Saudi Arabia in two years and invest SR800 million (Dh783.5m) in the expansion across the kingdom, said Yusuff Ali MA, Managing Director of Lulu Group.
"We are very clear in our approach to expansion… I am very confident about the economic situation of Saudi Arabia… we are fully committed to continue our forwards march,” said Yusuff Ali MA.
“Lulu will open eight more hypermarkets in different parts of the kingdom in the next 24 months, he added.
The Middle East retail major has also opened a new hypermarket in Riyadh.
The 112th Lulu Hypermarket was inaugurated by Prince Saud bin Abdullah bin Abdul Aziz in the presence of Hamid Ali Rao, India's Ambassador to the kingdom; Prince Bandar bin Khalid Al Saud, Yusuff Ali MA, Managing Director of Lulu Group; Kamel S Al Munajjed, Chairman Saudi-India Joint Business Council; Saifee T Rupawala, CEO; Asharaf Ali MA, Executive Director; and Shehim Mohammed Regional Director of Lulu Group.
The 240,000 sqft hypermarket will showcase a fresh food section comprising fruit, vegetables, dairy products, meat, fish and hot and cold ready-to-eat food, it also has a huge area dedicated to department store items such as electronics, IT products, home appliances, sports, stationery, furnishings and furniture and fashion brands for ladies, gents and kids, and 40 cash counters.
Lulu Hypermarkets employs close to 32, 000 people in its various operations.