Al Suwail opens the new hypermarket, watched by Yusuffali
and other dignitaries.
Lulu opens new hypermarket in Jeddah
JEDDAH, December 20, 2017
Retail giant Lulu Group has further expanded its presence in Saudi Arabia by opening its 11th hypermarket in the kingdom, in Jeddah.
The 142nd hypermarket of Lulu Group, which is also the second outlet in Jeddah, was officially inaugurated by Ibrahim Saleh Al Suwail, Deputy Governor of Saudi Arabian General Investment Authority (Sagia) on Wednesday (Dec 20).
“We are moving in line with Vision 2030 and the kingdom’s robust economy. The government’s investor-friendly policies have encouraged and provided us a favourable environment to continue to
establish ourselves and to contribute to the economic growth of the kingdom," said Yusuffali M A, Chairman of Lulu Group, at the inauguration.
"Our expansion plans are firm in the kingdom and by 2020, the country will get another 20 Lulu hypermarkets, out of which six will be opened in 2018. This includes two Hypermarkets in Riyadh, followed by one each in Tabuk and Dammam,” said Yusuffali.
Currently, the group employs 2,400 Saudi nationals, out of which 1,100 are female staff. "We consider it as our duty to nurture them as we have a very hardworking, dedicated and productive manpower in Saudi
nationals. Our goal is to employ 5,000 Saudi nationals by the year 2020 and 10,000 by 2024,” said Yusuffali.
The hypermarket is located on Al Haramain road in Jeddah is spread over an area of more than 250,000-sq ft. It will serve as a major shopping destination for Saudis and expatriates in Al
Marwah and its surrounding areas.
Yusuffali further said: “We attribute our success to the visionary leadership of the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz Al Saud; His Royal Highness Mohammed
Bin Salman, Crown Prince; the government and the people of this great country who have always given tremendous support to investments and economic development.”
"We have already invested more than SR800 million in the kingdom till now and intend to further invest SR500 million by the end of 2019, taking our total investment to more than SR1.3 billion in the
kingdom," he said. - TradeArabia News Service
