Abu Dhabi-based retail giant, Lulu Group, has officially launched an AED1.7 billion ($460 million) mixed use project in the Indian state of Andhra Pradesh.
Through a public private partnership, the group's project will comprise a 7,000 capacity convention centre, shopping mall and a luxury hotel in Visakhapatnam, and will be one of the largest project of its kind in the state.
“We hope to complete this prestigious project by 2021," said Lulu chairman and managing director Yusuffali.
“It’ll also provide a world-class shopping experience to both tourists and the residents of Sunrise state."
The mall will have more than 200 brands, a hypermarket, 11 screens multiplex, family entertainment centre, food courts with 2,500 seats and more than 20 F&B outlets and fine dining concepts, he said in a statement.
Yusuffali added: "Andhra Pradesh being the newest state in India has tremendous potential for investments in various sectors especially in hospitality and retail.
"We've had many rounds of fruitful discussions with the government of Andhra Pradesh and the speed with which they approved our project is commendable. We are fully committed to completing this prestigious project within 36 months."For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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