Lulu Group opens hypermarket in Saudi Arabia

31 May 2016 (Last Updated May 31st, 2016 18:30)

Abu Dhabi-based retailer Lulu Group has opened its seventh hypermarket in Jeddah, Saudi Arabia.

Abu Dhabi-based retailer Lulu Group has opened its seventh hypermarket in Jeddah, Saudi Arabia.

With this new opening, the group's total number of hypermarkets has reached 125, reported Khaleejtimes.com

This store is located in Jeddah's Amir Fawaz district, and has a retail space of over 2,000,000ft².

"We have already invested SR1 billion and intend to further invest SR800 million in the next two years."

LuLu Group chairman Yusuffali M.A. was quoted by albawaba.com as saying: "We plan to launch four more hypermarkets this year, including one in Jeddah and one each in Hail and Hofuf. By 2018, we will launch eight more hypermarkets in the Kingdom, including in the holy cities of Makkah and Madinah."

Yusuffali further added: "We have already invested SR1 billion and intend to further invest SR800 million in the next two years, taking our total investment to more than SR1.8 billion in the Kingdom."

Lulu Group currently has three hypermarkets in Riyadh, one each in Al Khobar, Jubail, Dammam.

It employs 1,700 people in the Saudi Arabia and aims to employ 5,000 people by 2018, reported Khaleej Times.