LuLu opens first Malaysia hypermarket.
Manama: UAE-based retail major LuLu Group has opened its first hypermarket in Kuala Lumpur, Malaysia, as part of its plans to further consolidate its retail presence in the Far Eastern region.
The 250,000sqft hypermarket was inaugurated by the Malaysian Prime Minister Najib Tun Razak in the presence of Dr Ahmed Zahid Hamidi, Deputy Prime Minister, Agriculture Minister and other government officials.
LuLu had recently announced its plans to set up 10 hypermarkets in Malaysia over the next five years at an investment of $300 million.
The new hypermarket, located in the CapSquare, Jalan Munshi area of Kuala Lumpur, is expected to be one of its kind in the country and will attract large segment of population from all walks of life with its attractive product offers and range.
It is spread over three levels and combines everything from grocery and supermarket products to fashion, household and latest electronics and gadgets, said a statement from the retailer.
Hot food from around the world, fresh seafood and locally-grown produce are some of the key highlights in the supermarket area, it stated.
Speaking at the launch, Mr Razak said the LuLu brand in Malaysia will pave the way for more international brands to come and invest in the country.
"I am also hopeful that Lulu will surely open many more hypermarkets and malls not only in Kuala Lumpur but also in other parts of Malaysia."
"With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by the end of 2021 and a central logistics and warehousing facility in Malaysia," said LuLu Group chairman Yusuffali MA.
"These projects are likely to generate more than 5,000 job opportunities for Malaysians."
"We also plan to set up contract farming to ensure continuous supply of high quality products and support the Malaysian agriculture sector," he added.
Apart from the hypermarkets, Mr Yusuffali also announced the group's plan to invest another $500m in setting up the largest shopping mall in Malaysia.
"Today, the whole world knows about Malaysia's economic stability, investor-friendly approach, liberalised policies and world-class infrastructure, and we are confident about our success here and our hypermarkets encompass both supermarket and department store formats and we intend to bring a whole new world of shopping to the residents of Malaysia."
He added that other hypermarkets would be opening in Kota Baru (Kelantan), Shah Alam (Selangor), Johar Baru, Bangi, Ipoh (Perak), Malacca, Penang and Kuala Terengganu.
One of the largest retail chains in the Middle East, LuLu currently operates 126 stores across the GCC, Egypt, India, Indonesia and employs more than 38,000 people of different nationalities.
Copyright 2016 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Publication:||Gulf Daily News (Manama, Bahrain)|
|Date:||Jun 27, 2016|
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