By Staff writer
Total investment by UAE-based retailer to reach $385m over the next 18 months
UAE-based Lulu Hypermarket is set to invest a further $90 million in expanding its operations in Bahrain over the next 18 months.
Lulu announced plans to open a further three hypermarkets in the kingdom by 2017, which will bring its total investment in the country to $385 million over a seven year period.
The news was announced at the opening of Lulu’s fifth hypermarket in Bahrain, a 120,000sq ft store at the newly-opened Juffair Mall.
Lulu Group chairman Yusuffali MA said Bahrain’s growth prospects have encouraged the retailer to increase its growth plans in the country.
“We had committed to an investment of BD100m ($265m) for Bahrain six years ago which we have crossed already and our sixth hypermarket will open soon at Galleria Mall, Ahli Club in Zinj,” he told local media.
“Two more stores are in the pipeline and will be opened over the next year-and-a-half. Currently, there are more than 1,100 Bahrainis working with us not only here but in other GCC countries as well. Our goal is to provide employment to 500 more Bahrainis as we expand here and regionally.”