UAE-based Modon Properties signs up Lulu Group for Courtyard Mall. Lulu Group International will be responsible for the operation of retail outlets at the Courtyard Mall complex in Riyadh City. The 25-year lease covers the rental for the operation of the Lulu Hypermarket chain of stores, spanning 39,405 sqft within Riyadh City’s Courtyard Mall.
As Modon Properties signs up Lulu Group for Courtyard Mall, Saifee Rupawala, CEO, Lulu Group said, “We are proud to launch our first-ever full-fledged hypermarket in Riyadh City. It has always been our goal to make the highest quality products both affordable and accessible to shoppers in metropolitan areas as well as in residential communities, so no one needs to drive a long distance. Following the express store that we opened last year, we are delighted to make this new shop possible in partnership with Modon, in order to fulfill the growing demand for lifestyle essentials within the vicinity.”
Modon Properties has been mandated by the Government of Abu Dhabi to develop integrated tourism destinations and sustainable residential communities. The agreement is the result of Modon’s ongoing cooperation with leading retailers as part of its efforts to meet the needs of residents of Riyadh City, while ensuring the steady progress and on-schedule delivery of the Courtyard Mall.
The commercial complex extends over an area of 93465 sqft within the North of Riyadh City. Upon its completion, the project is slated to include seven restaurants, 13 shops and a supermarket. The assortment of outlets is designed to meet the needs of residents when it comes to shopping for groceries and household items, further enhancing the integrated nature of the community.