UAE-based Lulu Group to invest over 3,500 cr in TS over next 5 yrs

Hyderabad UAE based-retailer Lulu Group is all set to make an entry in the state of Telangana as the first Lulu Mall and Lulu Hypermarket is getting ready in the capital city of Hyderabad. The company will invest over 3,500 crore in Telangana over next five years, Yusuff Ali MA, Chairman of Lulu Group, announced here on Monday in the presence of Telangana Industries Minister KT Rama Rao and a group of delegates.

The Abu Dhabi-headquartered company will invest around Rs 3,500 crore to establish several commercial spaces in the State including a destination shopping mall in Hyderabad with an investment of Rs 2,000 crore and mini shopping malls on the outskirts of this city and other major cities and towns in the State with an investment outlay of Rs 1,000 crore.

Yusuff Ali further said that Lulu Group’s investment in the State is the outcome of several discussions and an MoU signed with the Government of Telangana during the minister’s visit to World Economic Forum last year in Davos. The first project in Hyderabad is part of Rs 500-crore investment that Lulu committed to the State of Telangana.

A five lakh-sq-ft mall, earlier known as Manjeera Mall, has been re-branded as Lulu Mall with an investment of Rs 300 crore. This mall will offer international shopping experience to the people of Hyderabad and its surrounding areas. It will host a mega Lulu Hypermarket, more than 75 plus local and international brands, five-screen cinema, multi cuisine food court and children's entertainment center.

The mall is conveniently located at Kukatpally and will generate employment for more than 2,000 personnel. The highlight of the mall will be two lakh-sq-ft Lulu Hypermarket, which will offer an extensive range of fresh produce and grocery and will have separate sections for fashion, home appliances, electronics, IT and lifestyle products under the brand names, ‘Lulu Fashion Store’ and ‘Lulu Connect.

Lulu Mall is likely to be inaugurated in August 2023. Additionally, Rs 200 crore will be spent on an export-oriented modern integrated meat processing plant at Chengicherla with a production capacity of 60 tonne per day. The project will generate employment for more than 2,500 personnel. Commercial operations are expected to start at the facility in the next 18 months.

Lulu Group also plans for an agriculture sourcing and logistics hub near the Hyderabad airport for facilitating exports and promotion of local produce to across India and the world. Other plans include seafood procurement and a processing center to support the fishing industry. Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow and Coimbatore, where it has a presence.

Having more than 250 hypermarkets and 24 shopping malls across 22 nations, Lulu Group has been expanding rapidly in India with investments in food processing and retail projects in Ahmedabad, Chennai, Srinagar, Greater Noida and Varanasi. It has been known as a trendsetter of the retail industry in the Middle East and North Africa region.

The company operates over 250 hypermarkets and supermarkets and is immensely popular with discerning shoppers across the Gulf Cooperation Council (GCC) countries, Egypt, India, Indonesia, and Malaysia. It also employs more than 65,000 plus strong workforce from 42 different nations. It has an annual turnover of $8 billion globally.