LuLu Group has launched its newest hypermarket in Riyadh, further expanding its presence in the Kingdom.
The LuLu Hypermarket, which is 17th in the country and 169th globally, was inaugurated by Mohammed Abdullah Alaki, deputy mayor for investment and general supervisor for financial and administrative affairs in Riyadh.
The store is located at The Roof mall, a new shopping center in Riyadh’s Al-Yasmin district on Abu Bakr Siddiq Road. The two-level hypermarket, which covers an area of more than 357,000 square feet, has been designed using the latest retail space concepts and modern technology and will serve the residents of the affluent Al-Yasmin district and its nearby neighborhoods. The Roof is also home to a cinema, which is currently operational with eight screens.
LuLu Chairman Yussuff Ali M.A. said: “Saudi Arabia has always been part of our organic growth and expansion projects, whether big or small and we are really excited to open this new hypermarket in Riyadh, which will not only bring world-class shopping to the residents here but also open employment opportunities for the Saudi workforce.”
Elaborating on the group’s expansion plans, he said: “We are upbeat about the vast investment opportunities in Saudi Arabia, thanks to the Kingdom’s Vision 2030. We have already announced that by year 2020, we will open 15 new hypermarkets in Saudi Arabia. Under this plan, three hypermarkets have already been opened and another 11 hypermarkets will be completed before the end of 2020 at an investment of SR1.5 billion ($400 million). This is apart from the SR1.2 billion that we have already invested in the Kingdom till now.”
Also present at the opening ceremony of the new hypermarket were Indian Ambassador Dr. Ausaf Sayeed; Saifee Rupawala, CEO of Lulu Group; Ashraf Ali M.A., executive director; Shehim Mohamed, Lulu Saudi director; and other officials.
