By Ed Attwood
Dubai retailer sees Gulf state as vital part of MENA expansions plans
LuLu Hypermarket, one of the Gulf’s biggest retailers, is planning to increase its investment in Bahrain to $530m, according to a senior official at the group.
“We have further expansion plans, which include opening a 600,000 square foot hypermarket in Hidd this year that will be the largest in Bahrain and a further mall in the near future," LuLu managing director Yusuffali M A told Gulf Daily News.
"We have total commitment to Bahrain and the development of our business here. This will take our investment to BD200m [$530m] in the near future."
Yusaffali was speaking at the launch of LuLu’s third outlet in the country, at Ramli Mall in A’ali.
The total investment in the three stores amounted to $318m, he said.
LuLu will also open another store in Hidd later this year.
A subsidiary of the Dubai-based EMKE Group, LuLu launched outlets in Egypt and Saudi Arabia in 2010. The chain also announced that it would invest $266m in the Saudi shopping sector in the next year or so.
In the UAE, the retailer will open stores in Dibba, Al Ain, Ras Khaimah, Baniyas and Abu Dhabi this year.
The company is aiming to have 100 stores throughout the Middle East by the end of 2011.For all the latest retail 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.