Lulu hypermarkets opens first store in Egypt

Firm plans to invest another AED1.7bn in new hypermarkets and malls in Egypt over the next two to three years
Lulu hypermarkets opens first store in Egypt
Egypt Minister of Trade Rachid Mohamed Rachid inaugurates the first Lulu department store in Cairo. (Supplied)
By Elsa Baxter
Mon 25 Oct 2010 02:35 PM

Lulu hypermarkets, a subsidiary of UAE-based EMKE Group, has launched operations in Egypt by opening its first store in Nasr City, Cairo.

The company plans to invest another AED1.7bn in new hypermarkets and malls in Egypt over the next two to three years, Yusuffali MA, the managing director of Lulu Group, said in a statement.

“Egypt is a very strong country and we see great potential for our future growth,” he said.

This latest opening takes Lulu’s total number of branches to 84. The company plans to open its 100th store by the end of next year.

“Apart from the Dibba store in Fujairah we will be opening our most ambitious project, Mushrif Mall in Abu Dhabi soon followed by malls in Al Ain, Ras Al Khaimah and hypermarkets in Abu Dhabi, Al Ain, Ras Al Khaimah, Baniyas. We also intend to expand into the western region of Abu Dhabi soon,” Yusuffali said.

For all the latest UAE 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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.