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24 January 2019
LuLu Group has launched its newest Hypermarket in Eastern city of Dammam with the inauguration of Lulu Mall.
The Hypermarket which is also 16th in the Kingdom and 161st globally was officially inaugurated by H. E. Engineer Fahd Al-Jubair, Mayor of the Eastern Province in the presence of H.E. Abdul Rehman Bin Fahad Al Muqbel, Director General of Ministry of Labour, H.E. Khalid Ahamed Al Obaid, Director, Ministry of Labour, Yusuff Ali MA, Chairman of Lulu Group, Govt. officials and dignitaries.
Strategically located on King Fahad road, the four-level shopping mall houses global brands, entertainment centres, food court etc. for the whole family with a total built up area of 580,000 sq. feet and is managed by Lulu Properties, the shopping mall division of Lulu Group.
A major highlight of the newly opened Lulu Mall will be the 6-screen multiplex cinema, the first in Eastern region slated to be operational by mid-2019.
Talking to media, Yusuf Ali M A said, “we are really excited to open this new mall & hypermarket in Dammam, which will not only bring world-class shopping to the residents here but also open employment opportunities for the Saudi national.”
Elaborating Group’s expansion plans, Yusuf Ali said “we are upbeat about the vast investment opportunities in Saudi Arabia, thanks to the Kingdom’s Vision 2030. We have already announced that as part of our expansion plans, 15 new hypermarkets will be opened in the Kingdom by 2020 at an investment of
SR 1.5 billion. Under this plan, 3 hypermarkets have already been opened & another 2 hypermarkets are slated to open each in Riyadh & Jeddah, this year itself”. “This is apart from the SR1.2 billion that we have already invested in the Kingdom till now” he added.
Recently, we have signed an agreement with the Saudi Arabian National Guard to open two shopping centers and seven supermarkets in Dammam and Al Ahsa which will further generate sizeable employment for local Saudi youth and serve the National Guard officials and their families in best possible manner. Works are in full swing to open three stores in National Guard campus before the end of 2019.
“Saudi economy is booming thanks to the major reform being implemented by the visionary leadership here, and I am sure these initiatives will surely make KSA one of the top global economic powerhouse” noted Yusuffali.
Apart from the retail expansion, Lulu group is also investing another 250 million Saudi riyals in setting up one million square feet state-of-the-art wholesale and logistics centre in King Abdulla Economic City (KAEC) to support the retail expansion, ensuring food security.
LuLu Group currently employs 3,050 Saudi nationals including 750 women in their various hypermarkets across the Kingdom. “Our goal is to give employment to more than 5,000 nationals by the end of 2020 out of which 1,700 will be women” added Yusuffali.
“We also take this opportunity to extend our gratitude to the Custodian of the Two Holy Mosques His Majesty King Salman Bin Abdul Aziz Al Saud, Crown Prince His Royal Highness Mohammed Bin Salman and the government who have always given tremendous support to investments and economic development which ultimately generate more employment opportunities to the Saudi citizens.”
With 16 hypermarkets and eight Aramco commissaries in its entity, LuLu has firmly established itself as one of the most preferred retail destinations for both citizens and the expatriate community residing in the Kingdom.