Thursday, Mar 18, 2010

Gulf News

Muscat UAE-based Lulu Hypermarkets Group is strengthening its presence in Oman with an investment of 114 million Omani riyals (Dh1.08 billion), revealed Yousuf Ali, managing director of Lulu Hypermarkets group, during his recent visit to Muscat.

"We have always maintained that Oman is one of our biggest markets and the most promising in our future growth plan. The response we have been getting from our loyal shoppers is tremendous and we intend to continue to give them [a] world-class shopping experience," the Abu Dhabi-based Indian businessman told members of the media yesterday.

"Work on five new hypermarkets at an estimated investment of 90 million riyals in Wadi Kabir, Khaborah, Khasab, Salalah and Nizwa is nearing completion and ... the stores would be operational before the end of this year," he said.

He also pointed out that with the completion of five new hypermarkets, the Abu Dhabi-based group will have 11 stores in Oman.

Apart from this, the group is also opening a 14-million riyal shopping mall with a hypermarket in Buraimi, neighbouring Al Ain, which will be complete and fully operational by the end of next year. "The drawings of this [Buraimi] project are approved and works have already begun on this project," Yousuf Ali revealed. In addition to a hypermarket, the shopping mall also has a multiplex cinema, amusement area, food court, coffee shops and a wide variety of product lines under one roof.

Market share

The group, which currently operates 76 stores across the GCC and Yemen, is a major retail player in the region with more than 32 per cent market share in the organised retail sector.

"In Oman we intend to take our stores to different wilayats to be as close to the shoppers as possible. It will be our constant endeavour to bring world-class shopping to the majority of residents of this great country," he said.

The group has chalked out clear policy guidelines for generating employment opportunities for the Omani youth.

Elaborating this point Yousuf Ali said: "Currently we employ over 1,600 Omanis in our various operations and we intend to double this figure by the end of 2011.

"We also send Omani staff regularly to our stores in other countries for training, thus giving them better exposure and enhanced knowledge about international markets."

Staff Report

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