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To open 20 new hypermarkets by 2020.
New hypermarket in hail city is 8th in the Kingdom.
Hail: The Middle East retail major Lulu Group has ambitious plans for the Saudi market where it plans to add 20 more hypermarkets to its existing 8 by 2020. The details of expansion plans were revealed during the launch its 133rdhypermarket in the city of Hail, north-western province of the Kingdom of Saudi Arabia today.
The Hypermarket was officially inaugurated by Dr. Saud Hamood Al Bugami, Under Secretary of Hail province in the presence of several high-ranking officials from various government departments and representatives from local business communities. Yusuff Ali MA, Chairman of Lulu Group, Saifee Rupawala, CEO, Ashraf Ali MA, Executive Director other senior officials of Lulu were also present at the event along with a large number of residents. The new hypermarket, is spread over an area of about 160,000 square feet and will serve the residents of Al Jamiyeen District and its surrounding areas with easy access and ample parking.
Speaking after the inauguration, Mr. Yusufali MA, said “This is our eighth hypermarket in the Kingdom. We have plans to open 20 new stores by 2020,” he said, while describing the Kingdom as crucial to its expansion plan.“We have to expand aggressively here as the Kingdom is investing in its industries, which means more jobs and business,” Ali said. Regarding the current market scenario, he said the economic slowdown has had little impact on the retail sector, especially the hypermarket and supermarket segment. “There is no economic slowdown here, and business is as usual for us,” he said. Notably, the retail chain has not witnessed any discouraging signs as sales and revenue targets have been met, so far. The opening of the newest hypermarket saw the group, which is on a vast expansion mode, anchor itself firmly in the modern, customer-centric retail landscape of the Kingdom.
"The excitement surrounding the opening has been building among the residents of this region for several months, and we believe this store will be as popular with shoppers as our other existing stores” he added.
“Vision 2030 is highly appreciated by the global business community and it will definitely transform the Kingdom into a global investment hub & and the Government is extending great support to the business community. The Saudi manpower is very productive and hardworking and I have mentioned this in the recent World Economic Forum held at Davos” added Yusuff Ali M.A, the Chairman and Managing Director of LuLu Group.
© Press Release 2017
