The UAE-based retail major, LuLu Group further consolidated its retail presence in the Far East by opening the first LuLu mall with hypermarket in Malaysia.
The 250,000 square feet hypermarket was inaugurated by Malaysian Prime Minister Najib Tun Razak in the presence of Ahmed Zahid Hamidi, deputy prime minister, the minister of agriculture, government officials, ambassador of the UAE, the high commissioner of India and other dignitaries.
The group recently announced its plans to invest $300 million (RM1.3 billion) as part of its expansion and intends to set up 10 hypermarkets in the next five years in the country.
The new hypermarket, with a wide product range and offers, is located at the CapSqaure, Jalan Munshi area of Kuala Lumpur.
The prime minister said: "We are very pleased to welcome LuLu as this will pave way for more international brands to come and invest in Malaysia."
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end-2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians,” said Yusuffali M.A., chairman, LuLu Group.
“We plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he said, adding that other hypermarkets will open in Kota Baru (Kelantan), Shah Alam (Selangor), Johar Baru, Bangi, Ipoh (Perak), Malacca, Penang and Kuala Terengganu.
Aside from the 10 hypermarkets which are already planned, Yusuffali announced the group's plan to invest another $ 500 million in setting up the largest shopping mall in Malaysia.
The LuLu Group currently operates 126 stores across the GCC, Egypt, India, Indonesia. It is also ranked by Deloitte as one of the world’s top 10 fastest growing retailers.
The 250,000 square feet hypermarket was inaugurated by Malaysian Prime Minister Najib Tun Razak in the presence of Ahmed Zahid Hamidi, deputy prime minister, the minister of agriculture, government officials, ambassador of the UAE, the high commissioner of India and other dignitaries.
The group recently announced its plans to invest $300 million (RM1.3 billion) as part of its expansion and intends to set up 10 hypermarkets in the next five years in the country.
The new hypermarket, with a wide product range and offers, is located at the CapSqaure, Jalan Munshi area of Kuala Lumpur.
The prime minister said: "We are very pleased to welcome LuLu as this will pave way for more international brands to come and invest in Malaysia."
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end-2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians,” said Yusuffali M.A., chairman, LuLu Group.
“We plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he said, adding that other hypermarkets will open in Kota Baru (Kelantan), Shah Alam (Selangor), Johar Baru, Bangi, Ipoh (Perak), Malacca, Penang and Kuala Terengganu.
Aside from the 10 hypermarkets which are already planned, Yusuffali announced the group's plan to invest another $ 500 million in setting up the largest shopping mall in Malaysia.
The LuLu Group currently operates 126 stores across the GCC, Egypt, India, Indonesia. It is also ranked by Deloitte as one of the world’s top 10 fastest growing retailers.
