Middle East's retail major Lulu Group has announced plans to open seven more hypermarkets in Oman in the next two years.

The announcement was made by Yusuffali MA, chairman of Lulu, following the opening a new hypermarket in Suwaiq, a coastal town in the north east of the sultanate.    

The 16th Lulu hypermarket in Oman was officially inaugurated by Shaikh Muhna Bin Saif Bin Salim Al Lamki, governor of North Al Batinah, in the presence of several high-ranking officials from various government departments and representatives from local business communities.
 
The new 100,000-sq-ft hypermarket will serve the residents of Suwaiq and its surrounding areas with a wide range of products from all over the world.

The product mix in Lulu Suwaiq encompasses a wide selection of premium UK and US goods, including special products air-flown for freshness.  

Yusuffali said: “Oman has always been a preferred destination for us because of its stable political environment and promising market. We thank His Majesty Sultan Qaboos Bin Said and the people of this country for encouraging us in all our expansion strategies and efforts in Oman."

On providing training and employment opportunity to the educated Omani youth, Yusuffali said: “It is also our endeavour to nurture the local talent and a proof of this is our strong workforce of 2,000 Omanis that form the nucleus of our operations here in Oman."

Regardless of the challenges arising from the volatile oil prices, Yussufali expressed optimism on the economic outlook of the country. “We’re very optimistic based on the circumstances in general. The impact of fluctuating oil prices is not going to distract us from the long-term goals of our business in Oman.
 
“Despite the signs of fiscal caution, there is no need for residents to press the panic button. The government has initiated comprehensive measures and substantial strategies to tide over the crisis and create a positive impact on the lives of citizens. This is definitely a clear sign that the economy is on track to overcome the challenges and achieve its objectives successfully,” he added. - TradeArabia News Service