UAE's Lulu to invest $200m in Malaysian hypermarkets

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Yusuffali MA, founder of EMKE Group which owns LuLu.

Yusuffali MA, founder of EMKE Group which owns LuLu.

Abu Dhabi-based Lulu International Group is set to open hypermarkets in Malaysia under a collaboration with the country's Federal Land Development Authority (FELDA).

Tan Sri Muhyiddin Yassin, Malaysia's deputy Prime Minister, said under the joint venture, Lulu Group would open its first hypermarket in Kuala Lumpur this year before unveiling another five at different locations in the next few years.

He said the group had agreed to invest $200 million on its hypermarkets in Malaysia.

"They will also help market more Malaysian products at their hypermarkets, including those produced by our small-and medium-sized industries and FELDA," he said in comments published by the official Malaysian news agency.

"It is, indeed, a good opportunity for us as Lulu International is the biggest operator of hypermarkets chain in the region with an annual turnover of more than $5 billion," he added after visiting a Lulu hypermarket in Dubai.

Lulu Group has more than 100 hypermarkets in the Middle East and one in Kerala, India.

The deputy PM also said the group had also agreed to sign contract farming deals with local farmers and entrepreneurs to help supply fresh vegetables and fruits to their hypermarkets.

"They are interested to buy in bulk highlands vegetables and we may promote the produce from Cameron Highlands (Pahang) and Kundasang (Sabah)," he said.

Yassin established a personal relationship with Lulu Group founder, Yusuff Ali MA, when he helped to promote Malaysian products in the UAE during his tenure as Domestic Trade and Consumer Affairs Minister.

Commenting on the Malaysian expansion, Ashraf Ali MA, executive director of Lulu Group, said: "We are delighted and encouraged by the support we have been receiving from the Malaysian goverment for our malaysian launch. We are very positive about the Malaysian market and are sure to give the shoppers in Malaysia the very best of international shopping and convenience."

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Dubai's nightlife bubble: When is it going to burst?

Dubai's nightlife bubble: When is it going to burst?

A new breed of clubs and bars is sprouting in the city, but which...

12
Chocolate: worth its weight in gold?

Chocolate: worth its weight in gold?

Middle Eastern consumers with a sweet tooth are buying up ever...

Most Discussed