UAE-based retail giant Lulu Group will invest 970 million AED (INR 2,000 crore) in Gujarat to set up a modern shopping mall which will create employment opportunities for over 5,000 people. The announcement was made after Gujarat Chief Minister Bhupendra Patel met NRI businessman and Lulu Group Chairman and Managing Director Yusuffali MA in Dubai. Patel led a delegation in the UAE this week to promote the Vibrant Gujarat Global Summit to be held in January 2022, and make a strong pitch to global investors to capitalise on the state’s ease of doing business.
To fast-track the projects, a Memorandum of Understanding (MoU) was signed by Dr Rajiv Kumar Gupta, IAS, Additional Chief Secretary on behalf of the Gujarat Government and Yusuffali, the Lulu Group said in a press release. According to the MoU, Lulu Group will set up a world-class shopping mall between Ahmedabad and Gandhinagar, which will create employment opportunities for more than 5,000 people. The press release said that the construction is expected to begin in the first quarter of 2022 and be completed within 30 months.
Apart from a shopping mall, the Lulu Group will also set up food processing and logistics centres in Baroda and Surat respectively, which will facilitate exports, it said. “I welcome Ali’s promise to invest in Gujarat. The government will make every effort to ensure that land and any other assistance are provided so that they can begin work,” Chief Minister Patel said. “Gujarat holds a very special place in my heart. This is where I first learnt the basics of business as my father had family business in Ahmedabad. So, I feel very excited to invest in Gujarat and hope we can expand further in this vibrant state,” Yusuffali said.
The Lulu Group currently operates more than 220 hypermarkets and shopping malls in the Middle East, Egypt, Indonesia, Malaysia and India. Globally, it employs more than 57,000 people, with Lulu hypermarkets and department stores enjoying a 32 per cent share of the retail market in Gulf Cooperation Council countries, the release said. The group has also invested in India’s retail market with mega malls in Kerala and Uttar Pradesh. The Lulu Mall in Uttar Pradesh’s capital Lucknow is expected to be open for shopping by March 2022.
Consumers, investors, and other key stakeholders of fashion retail are at aMay 11, 2022 | By Zubina Ahmed
The eight edition of the Retail Leaders Circle MENA, convened more thatMay 5, 2022 | By Zubina Ahmed
Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot
Eid Al-Fitr is an occasion to gather with your friends and family
Leading retailer LuLu Group further strengthened its presence in the Emirate of
Jones the Grocer, the Australian gourmet grocer and café chain, announces further
What is a perfect healthy snack for Ramadan? An assortment of dried
With Ramadan almost at it’s first week, we are wondering where can
In spirit of the holy month, Amazon announced that it will contribute
As consumer behaviour is changing and the demand for delivery is expanding,
As part of the ‘Gift an Iftar’ campaign, Festival Plaza, part of
The Michelin Guide, a book published by the French tyre company that
As the UAE eases pandemic restrictions and encourages the renewal of business
Papa John’s International, Inc. has announced a new partnership with ENOC Group
Customers would most like to see future City Centre malls as spaces
Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer
Leading Hypermarket retailer Carrefour – owned and operated by Majid Al Futtaim
GMG, a global well-being company retailing, distributing and manufacturing a portfolio of
Some 88% of consumers in UAE and KSA have revealed that they
Have you thought of a situation when retail stores will offer refill
Meta Platforms Inc is set to open its first physical store where
LEGO Certified Stores – owned and operated by Majid Al Futtaim together
India’s leading retailer Reliance has called off its $3.4 billion deal with
Unique craftsmanship, style, design, exclusivity, limited production and quality over quantity –
Swedish home furnishings giant IKEA, has announced the opening of its first
Shopping while earning money or getting returns from a part of your