UAE-based retail conglomerate, the Lulu Group has opened its first hypermarket in Jakarta, Indonesia, marking its first retail push in the Far East.
The first Lulu Hypermarket in Indonesia was officially inaugurated by Indonesian president Joko Widodo in the presence of Basuki Tjahaja Purnama, governor of Jakarta; Thomas Trikasih Lembong, Indonesian trade minister; Ahmed Abdullah Al Mussali Al Awadi, UAE ambassador to Indonesia; Husin Bagis, Indonesian ambassador to UAE; Lulu Group chairman Yusuffali MA and other ministers, government officials, members of the business community and a large gathering of residents.
The new Lulu Hypermarket is expected to be one-of-its-kind in the region and will attract large segment of population in the capital city of Jakarta. Located in the Cakung sub-district of East Jakarta with an area of over 200,000 sqft, the new hypermarket is designed with customer convenience at hear and provides a one-stop shopping destination for the residents of the city.
The Lulu Group has already announced its plans to invest $500 million as part of its expansion plans and intends set up 10 hypermarkets in the next three years in Indonesia.
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end-2017 and a central logistics and warehousing facility in Jakarta. These projects are likely to generate more than 5,000 job opportunities for Indonesians,” affirms Yusuffali. “We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Indonesian agriculture sector.”
The Lulu Group currently operates 125 stores across the GCC, Egypt and India and employs more than 38,000 people from different nationalities.