Abu Dhabi based ADQ announced a non-binding agreement with Lulu International Holdings (LIHL), to support LIHLs expansion of operations in Egypt and will create more than 12,000 retail jobs in country.
- ADQ, is one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.
- The agreement will pave the way for an investment supporting LIHLs expansion of operations in Egypt of up to USD 1 billion.
- Under the terms of the agreement, ADQ and LIHL will work to collectively develop up to 30 hypermarkets and 100 express minimarket stores as well as state-of-the-art logistics hubs, distribution and fulfilment centres to strengthen the retailer’s ecommerce business across Egypt.
The prominent investments and expansions by Lulu Group are mentioned below:
January 2020: Hypermarkets and retail chain operator Lulu Group will invest $300 million in Karnataka, India, in the retail, logistics, and hospitality sectors. As part of this investment, the first Lulu mall will come up in Bengalurus Rajajinagar area. Lulu Group will construct two five-star hotels in Bengaluru through Twenty14 Holdings, the companys hospitality arm. The company also announced a modern logistics centre in the Uttara Kannada region of State.
December 2019: LuLu Group strengthens its presence in Kuwait with the opening of its 10th Hypermarket in the country. The new hypermarket is one of the largest hypermarkets in Kuwait and also the 184th hypermarket of the LuLu group globally. The hypermarket has 150,000 square feet of commercial space and will serve residents in the Fahaheel region.
December 2019: LuLu Groups hospitality investment arm Twenty14 Holdings announced the opening of iconic Great Scotland Yard hotel in London, UK. The new Scotland Hotel will be managed by Hyatt under their The Unbound Collection by Hyatt brand, is located in the St. Jamess district of Westminster.
November 2019: LuLu announced the opening of its new hypermarket in Al Hamriya, in Dubai. The new hypermarket is located near Burjuman Metro Station and has a total built-up area of about 65,000 square feet. It features a wide array of products that vary from department store staples, such as groceries, fresh food, delicatessen items, freshly baked breads and pastries, fish and meat, and kitchen-crafted hot food. The hypermarket also has garments, footwear, electronics, household appliances and accessories, health and beauty products, stationery, and party needs for Al Hamriya customers.
About LuLu Group International
Lulu Group is a highly diversified conglomerate, headquartered in Abu Dhabi, UAE. The groups international business portfolio ranges from hypermarket operations to shopping mall development, hospitality assets, manufacturing and trading of goods, and real estate. The company mainly operates in around 22 countries located across the Middle East, the USA, Asia, and Europe.
LuLu Group Internationals retail division has the largest share in its core businesses. The group is the pioneer of the hypermarket business with LuLu Hypermarket. The company operates more than 180 LuLu stores and around 23 shopping malls across the GCC, Egypt, India, and the Far East.