Modon Holding and LuLu Retail announced a partnership deal to develop and operate hypermarkets and other retail facilities in the UAE and Egypt.
The partnership envisages Modon Holding leveraging its expertise in large-scale project development to ensure the provision of community retail in the form of hypermarkets, supermarkets and other retail outlets to be operated by LuLu across Modon’s UAE and Egypt portfolio.
Additionally, the two parties will jointly explore high-potential locations for retail development, implement smart retail solutions and advanced logistics infrastructure, and enhance customer experiences with innovative retail technologies.
This partnership, formalised in a memorandum of understanding (MoU), marks an important step in Modon Holding’s broader growth agenda, which includes actively targeting high-potential sectors for its projects’ expansion.
A working committee with representatives from Modon Holding and LuLu Retail will ensure seamless collaboration, effective communication and identification of potential collaborative projects, activities and initiatives.
The committee will enable the two parties to exchange expertise and make informed decisions, meeting operational needs and maximising mutual benefits.
Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said the collaboration with LuLu Retail highlights the group’s commitment to delivering vibrant lifestyle communities that address the full spectrum of resident’s needs.
“This MoU sets the stage for an exceptional retail experience within our developments, ensuring long-term value for Modon residents in the UAE and Egypt,” he said.
Yusuff Ali, Chairman and Managing Director of LuLu Group, said the Group’s collaboration with Modon Holding will enable it to continue to expand its footprint.
“This MoU will allow us to offer unparalleled shopping experiences that blend quality and innovation while catering to the diverse requirements of the communities in the UAE and Egypt,” he said.
Headquartered in Abu Dhabi, LuLu is a leading retail chain in the Middle East, with its international business portfolio ranging from retail operations and shopping mall development to manufacturing and trading of goods, hospitality and real estate.
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