JEDDAH: LuLu Group, Abu Dhabi-based retail major with its aggressive expansion in the Saudi market, is all set to open its first hypermarket in Jeddah, second largest city and an important commercial hub in the Kingdom, on Sunday May 29. It is LuLu’s 7th in the Kingdom and the group’s 125th globally.

Speaking to the media on the newest project, Yusuffali M.A., chairman of LuLu Group, said: “Ever since we set foot in the Kingdom, we have been witnessing tremendous success in all our endeavors in the Kingdom’s retail sector. We are very confident that this great country will further prosper under the visionary leadership of Custodian of the Two Holy Mosques King Salman, Crown Prince Mohamed bin Naif, and Deputy Crown Prince Mohamed bin Salman.”

“The government’s vision and policies, the progressive political environment and robust economy have encouraged and provided a favorable environment for us to continue to establish ourselves and contribute to the economic growth of the Kingdom. Vision 2030, which was announced recently by Deputy Crown Prince Mohamed bin Salman, will take the country to a new era of development and growth. The business community across the world is looking at Saudi Arabia with reviewed interest, which will surely push the nonoil commercial activities in the Kingdom,” Yusuffali said.

“We plan to launch four more hypermarkets this year, including one in Buraiman, Jeddah, and one each in Hail and Hofuf. By 2018, we will launch eight more hypermarkets in the Kingdom, including in holy cities of Makkah and Madinah,” he added.

Revealing his investment plans, Yusuffali said: “We have already invested SR1 billion and intend to further invest SR800 million in the next two years, taking our total investment to more than SR1.8 billion in the Kingdom.”

LuLu is committed to do its bit in the Kingdom by opening more outlets, thereby generating more employment opportunities to the talented Saudis. The opening of our first hypermarket in Jeddah and seventh in the country underscores our increasing presence in the region and our commitment to serve one of the growing and important markets in Saudi Arabia.”

“We have always believed that it’s our duty to nurture the local talent and train them in managerial positions. Currently, there are 1,700 Saudis, including women who work with us, and our goal is to provide employment to 5,000 Saudi nationals by the end of 2018,” said Yusuffali.

With three stores in Riyadh, and one each in Alkhobar, Jubail, Dammam and eight commissaries in its entity, LuLu has firmly established itself as one of the most preferred retail destinations for both locals and the large expatriate community residing in the Kingdom.