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Riyadh, Saudi Arabia: Lulu Group has crossed a major milestone as the leading retailer in the region by opening 150th Hypermarket in Riyadh, Kingdom of Saudi Arabia. The Hypermarket which is Lulu’s biggest was officially inaugurated by Engineer Ibrahim Al Omer, Governor, HE Ibrahim Al Suwail Dy. Governor of Saudi General Investment Authority(SAGIA) along with Sheikh Shakhbout bin Nahyan Al Nahyan, UAE Ambassador to the Kingdom of Saudi Arabia. LuLu Chairman Yusuff Ali M.A., Ashraf Ali MA, Executive Director, Saifee Rupawala CEO, Shehim Mohammed, Lulu Saudi Director and other dignitaries & royal family members were also present on the occasion.
Located at the newly launched Atyaf Mall in Yarmouk, this mega hypermarket, the 13th in the country is spread across 220,000 square feet area and is the biggest in the kingdom.
Commenting on the newly inaugurated hypermarket, Yusuff Ali M.A. said: “We are absolutely delighted to open our group’s 150th and KSA’s 13 hypermarket today in Riyadh and I am sure the shoppers here will be pleased by the new retail experience we have created here. Through our internationally sourced quality products and enthusiastic staff, Lulu has been the most preferred destination for different nationalities and we will continue to preserve this identity with our new store.”
Expansion Plans:
Elaborating Group’s expansion plans, Yusuff Ali said, “We see tremendous growth opportunities in the Kingdom and are glad to be part of the 2030 vision by further expanding our presence here. We will open another 15 hypermarkets by 2020 at an investment of SAR 1 billion out of which five will be opened this year itself. This includes three Hypermarkets in Riyadh followed by one each in Tabuk and Dammam. This is apart from the SAR 1 billion we have already invested in the Kingdom till now.
Saudization & Training policy:
“Currently, our group employs more than 3000 Saudi nationals which is approx. 40% Saudization and our goal is to give employment to 6000 Saudi nationals by the end of 2020. We have a very elaborate and effective multi-level training program, through which we not only train them here but also send the local recruits to our other regions in the GCC & India for training in various departments. We have also tied up with Saudi vocational institutions and universities in this regard.
Logistics & Wholesale sector development:
Apart from the retail expansion we are investing another SAR 200 million in setting up a 1 million sq. ft. state-of-the-art wholesale & logistics center in King Abdulla Economic City (KAEC), which will not only support our retail expansion but also help in ensuring food security.
Yusuffali further said: “We attribute our success to the visionary leadership of Custodian of the Two Holy Mosques King Salman, Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, the government and the people of this great country who have always given tremendous support to investments and economic development”.
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