The UAE-based LuLu Group, one of the world’s fastest-growing retail chains with more than 245 hypermarkets, supermarkets and shopping malls, is a global business house aligning its growth plans with the emergence of India as an economic super power. The Group is actively expanding its presence in the pan-India region by investing in the field of retail, hospitality, food processing and logistics in different states.
After the grand success of its shopping malls in Kochi, Trivandrum, Bengaluru and Lucknow, LuLu Group is expanding its footprint in India rapidly where plans for new shopping malls and hypermarkets in Gujarat, Uttar Pradesh, Tamil Nadu have been announced recently.
LuLu Group recently signed an MOU with the Uttar Pradesh government to set up shopping malls, hypermarkets and a hotel in the state.
As per the MoU, LuLu will open six shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj with a total investment of Rs 4,500 crore.
The shopping mall project in Sector 108, Noida, will also have a five-star hotel. The new investment by LuLu in Uttar Pradesh is expected to provide employment to more than 20,000 people after its completion.
LuLu’s foraying into the state of Gujarat to develop a large shopping mall at Ahmedabad comes with an investment of Rs 3,000 crore. The company is in advance stage of discussion to acquire land and construction of the shopping mall. The investment by LuLu Group in the state follows an MoU signed with the Government of Gujarat recently. During the recently concluded 17th Pravasi Bhartiya Divas at Indore, the Government of Madhya Pradesh has also officially invited LuLu Group to invest in the state in the field of food processing, retail and logistics.
Shivraj Singh Chouhan, Chief Minister of the state, held discussions with Chairman of LuLu Group, Yusuff Ali MA in this regard and said that the state would extend all possible assistance to LuLu Group.
After the launch of its flag ship five-star hotel Grand Hyatt Kochi and Hyatt Regency Thrissur, it recently opened latest five-star hotel in Kerala Capital with an investment of Rs 600 crore. During the inauguration ceremony, Yusuff Ali announced the upcoming project of Hyatt Regency Hotel in Kozhikode with an investment of Rs 500 crore.
“Needless to say, India is very close to my heart and mind emotionally,” said Yususff Ali. “I would say that the country is an emerging economic superpower under the dynamic leadership of Narendra Modi, our Prime Minister. As our business footprint grows in India, I see this expansion as an opportunity to contribute to the growth of India by providing employment to the youth of India. I believe strongly that the LuLu Group can be a key enabler in the forward march of India,” he added.
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