LULU OPENS 14th HYPERMARKET IN KSA
The leading retail company, UAE-based Lulu Group has further expanded its retail network in the Kingdom of Saudi Arabia by opening its newest Hypermarket in North-Western region of Tabuk.
Eng. Faris M Al-Sarhani, Mayor of Tabuk officially inaugurated the hypermarket in the presence of Said Ali Awadh Al Asieri, Chairman Tabuk Chamber of Commerce and a number of other dignitaries.
Strategically located at the newly launched Tabuk Park Mall on the King Faisal road, Lulu Hypermarket covers a total built-up area of more than 145,000 square feet.
With the signature LuLu design aesthetic, the single-level shopping facility features a conducive and spacious store layout and organized product stations which includes grocery, dairy products, fruits & vegetables including Saudi grown products, fish & meat, fashion and lifestyle items, electronics, sports, IT and home accessories among others.
Commenting on the newly inaugurated hypermarket, Yusuffali Musliam, Chairman of Lulu Group, said: “We are absolutely delighted to open our latest hypermarket today in this beautiful city of Tabuk. Our policy is to open Lulu Hypermarkets in different regions, so that shoppers don’t have to drive long distance to enjoy world-class shopping experience & our internationally sourced quality products at great prices. Lulu has been the most preferred destination for different nationalities and we will continue to preserve this identity with our new store.”
Elaborating Group’s expansion plans, Yusuff Ali said, “We are upbeat about the vast investment opportunities laid open in the Kingdom, thanks to the Kingdom’s Vision 2030. Our group plans to make investments in the $500 billion NEOM transnational megacity and economic zone,” he said, adding that the investment processing work is under way in this regard.
We have already announced that as part of our expansion plans, 15 new hypermarkets will be opened in the Kingdom by 2020 at an investment of SAR 1 billion. Under this plan, two hypermarkets have already been opened & another three hypermarkets are in line to be opened by the end of this year. This includes two in Jeddah, one each in Dammam, Al Kharj and North Riyadh.
This is apart from the SAR 1 billion we have already invested in the Kingdom till now.
With 14 Hypermarkets and eight ARAMCO commissaries in its entity, LuLu has firmly established itself as one of the most preferred retail destinations for both citizens and the expatriate community residing in the Kingdom.
Yusuff Ali further said: “We attribute our success to the visionary leadership of Custodian of the Two Holy Mosques His Majesty Salman bin Abdulaziz Al Saud, Crown Prince His Royal Highness Mohammad Bin Salman Al Saud, the government and the people of this great country who have always given tremendous support to investments and economic development by making visionary changes”.
Talking about the economic reforms, Yusuff Ali said “investors need to support the economic reforms that are being introduced to boost the Kingdom’s economy and have to play an active role in the efforts to generate more jobs for the citizens”.
Saudization & Training policy:
“Currently, our group employs more than 3,000 Saudi nationals out of which 1,200 are ladies which is approx. 40% Saudization. And our goal is to give employment to 6,000 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 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.
Also present on the occasion were Saifee Rupawala, CEO, Ashraf Ali, Executive Director, Shehim Mohammed, Lulu Saudi Director & and other officials. Citizens and residents in large numbers also attended the inauguration ceremony.