1. News
April 11, 2016

Lulu Group to invest $751m in India over four years

UAE-based hypermarket operator Lulu Group has announced plans to invest Rs50bn ($751m) in India over the next four years.

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UAE-based hypermarket operator Lulu Group has announced plans to invest Rs50bn ($751m) in India over the next four years.

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It intends to open shopping malls across major cities by 2020.

Among the cities that the firm has shortlisted include Chennai, Thiruvananthpuram, Bengaluru and Hyderabad, reported Press Trust of India.

The group also plans to open additional 12 hypermarkets in Saudi Arabia with an investment of Rs20.7bn ($311m). It currently has 14 supermarkets in the country.

"The business environment in India has improved significantly."

Lulu Group managing director Yusuff Ali MA was quoted by PTI as saying: "The business environment in India has improved significantly. A lot of restrictions are moved to facilitate investment.

"The best thing the new government has done to treat all NRI investment as domestic investment."

The company’s annual turnover is approximately $5.5bn.

Lulu Group currently has 124 shopping malls in 30 countries, and employs around 35,000 people.


Image: UAE-based Lulu Group to invest Rs50bn in India. Photo: courtesy of Lulu Group International.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.