LuLu Group unveils $266mln expansion plan in Saudi Arabia

RIYADH — LuLu Hypermarkets, one of the largest retailers in the region, is upbeat about the investment climate of KSA and is planning big expansion plans in coming years. Talking to media during the 10th anniversary celebrations held at Atayaf Mall in Riyadh, chairman Yusuffali MA unveiled LuLu Group’s plans.

Engineer Saad Al Gamdi, Head of Saudization Program (Tawteen), Ministry of Labor, along with Yusuffali MA, Chairman of LuLu Group, officially inaugurated anniversary celebrations in the presence of senior officials and a large number of shoppers.

Elaborating LuLu Group’s journey so far, Yusuffali said “with a modest beginning in the 2009, today we have 17 hypermarkets, 12 Aramco commissaries and National Guard supermarkets which is a testimony of our acceptance in the country thanks to our fair pricing and highest quality product range.

We see tremendous growth opportunity in the kingdom. We have already announced that by year 2020, we will open 15 new hypermarkets in Saudi Arabia. Under this plan, 3 hypermarkets have already been opened & another 11 hypermarkets will be completed before end of 2020 at an investment of SR1 billion. This includes 4 in Dammam, 6 in Jeddah and 1 in Riyadh. This is apart from the SR1.7 billion that we have already invested in the Kingdom till now”.

On the occasion, LuLu honored 10 long serving Saudi nationals with gold medals and certificates who were all part of LuLu’s growth story in the Kingdom. Congratulating the Saudi staff, Yusuffali said “we consider it our duty to nurture them as we have a very hardworking, dedicated and productive manpower among Saudi nationals.

LuLu Group currently employs 2,700 Saudi nationals including 700 women in their various hypermarkets across the Kingdom. Out of the total Saudi work force employed in our group, half of them are from small town like Hail, Tabuk, Hassa and Jubail. “Our goal is to give e-m1ployment to more than 4,000 nationals by the end of 2020 out of which 1,700 will be women,” added Yusuffali, noting that his group gives priority in generating jobs for young Saudis, especially women. “I think it is the duty of all businessmen and investors to create more jobs for the local youth.”

“We also take this opportunity to extend our gratitude to the Custodian of the Two Holy Mosques King Salman Bin Abdul Aziz Al Saud, Crown Prince Muhammad Bin Salman, deputy premier and minister of defense and the government who have always given tremendous support to investments and economic development which ultimately generate more employment opportunities to the Saudi citizens.”

On the occasion of 10th anniversary celebrations, LuLu announced the launch of LuLu-Win One Million Riyal promotion which will run for 10 weeks and 10 lucky winners will each getting SR100,000 cash prize.