KOCHI: Retail player Lulu Group, promoted by Indian business man Yusuff Ali M A, has announced a major expansion plan in the Saudi Arabian market.
Lulu Hypermarkets has opened its latest outlet in Dammam. It’s the 6th outlet in Saudi Arabia and 121st in the GCC.
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.
Revealing his investment plans, Yusuff Ali said that the group has “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 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.