Lulu Hypermarkets, a retail major in the Middle East, plans to invest SR700 million ($186 million) in Saudi Arabia by the end of 2017, taking its total investment to more than SR1.5 billion ($400 million) in the Kingdom, said the group chairman.

“In 2017 we will launch six more in the Kingdom including in Makkah and Madina” explained Yusuff Ali M A, speaking at the inauguration of Lulu’s latest outlet in Dammam, Saudi Arabia.

Yusuff Ali also announced the proposed launch of four more hypermarkets this year, two in Jeddah and one each in Hail and Hofuf.

The latest outlet marks Lulu’s sixth in Saudi Arabia and 121st in the GCC.

The hypermarket was inaugurated today (January 13) by Prince Saud bin Abdullah bin Abdul Aziz, in the presence of Abdullah Al Ahamed, president of Dammam Municipality and several high ranking officials.

The new hypermarket, located in Prince Mohamed bin Fahad Road in Dammam provides a one-stop shopping destination for the growing city dwellers, which include a growing community of Nationals and expatriates.

The hypermarket also houses Sparkys family entertainment, food court consisting of authentic Arabic fine dining, Arabic and Filipino cuisine, and Coffee shops, Pharmacy from ATM and money exchange.

“The support and love extended by the Rulers gives us further impetus to serve the growing economy of this country,” said Yusuff Ali.

“Lulu is committed to do its bit to help the kingdom by opening more outlets, thereby generating employment opportunities to talented Saudis. The opening of the Hypermarket in Dammam underscores our increasing presence in the region and our commitment to serve one of the growing and important markets in Saudi Arabia.”

“We have always believed that it’s our duty to nurture the local talent and currently there are more than 1,500 Saudis who work with us and our goal is to provide employment to 5,000 Saudi nationals by the end of 2017,” said Yusuff Ali.

“Currently Lulu has more than 30 per cent Saudis in their workforce and provides best quality training to absorb them in various managerial and specialized sections,” he added. – TradeArabia News Service