United Arab Emirates-based retailer Lulu Group is continuing its retail portfolio expansion in Saudi Arabia with the finalisation of two new hypermarket projects in the cities of Makkah and Madinah, the Saudi Gazette has reported.
The announcement was made by Lulu Group chairman and managing director MA Yusuff Ali during a signing ceremony in Makkah.
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The first project, a collaboration with the Jabal Omar Development Company, will see a Lulu store established within Souq Al Khalil as part of Makkah’s mixed-use Jabal Omar 3 development.
The store, which is within walking distance of Masjid al Haram, will be part of a larger project covering 253,000m².
The second project in Madinah, spanning 2,161m², is being developed by the Al Manakha Urban Project Development Company.
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The agreement was signed by Jabal Omar’s chief operating officer Badr Nadershah, Al Manakha Urban Project Development Company CEO Waleed Ahmed Al Ahmadi, and Lulu Group KSA [Kingdom of Saudi Arabia] director Shehim Mohammed.
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By GlobalDataYusuff Ali MA was quoted by the publication as saying: “To contribute to the development of amenities in Makkah and Medina is a long-cherished dream of mine and I assure the Saudi authorities that the LuLu Group is committed to bringing world-class shopping experiences closer to the people while generating more employment opportunities for Saudi citizens.
“The vision and new approach which puts Saudi development at the centre of progress is boosting investor confidence and driving economic development.”
In Saudi Arabia, Lulu Group’s hypermarkets employ a total of 3,300 Saudi nationals, including 1,100 women.
The group plans to create 1,000 jobs with the new projects.
In October 2023, Lulu Group made an agreement with software provider VSBLTY and its retail analytics technology partner and System Security Solutions to increase its in-store revenue in the long term.
