As part of its planned expansion in the Kingdom, LuLu Group Chairman and Managing Director Yusuff Ali M.A. signed an agreement with Thamer Alqurashi, CEO of Manazel Al-Khobaraa Real Estate LLC, to establish a LuLu Hypermarket Anchor Store in the Taif City Walk mall. The signing took place in Makkah.
The 21,000-square-meter store will extend over two levels and bring the convenience and brand promise of the LuLu retail chain to the residents of Taif. Opening in January 2023, the store, which represents an investment of SR51 million ($13.6 million) by the group, will create more jobs in Taif for Saudi nationals.
Located in Makkah Province, Taif is a cool and high-altitude destination, famous for roses, and is known as Saudi Arabia’s unofficial summer capital. Hajj and Umrah pilgrims change into their ihram at Meeqat in Taif, underlining the significance of the city in the religious tourism map as well.
Chairman Ali welcomed the new business opportunity, saying it represented the new economic energy in the Kingdom.
“The LuLu Group has aligned its growth and vision with that of the leadership of the Kingdom of Saudi Arabia,” he said. “We are seeking to tap the potential of the Tier 2 and Tier 3 Saudi cities, which are developing rapidly, and Taif is an important Tier 2 urban center and a popular tourism hub in Saudi Arabia. I am sure that Taif City Walk will bring a wholesome and world-class shopping experience to the city.
“We also take this opportunity to extend our gratitude to the Custodian of the Two Holy Mosques King Salman, Crown Prince Mohammed bin Salman and the government, which has extended great encouragement to investments and economic development.”
There are 26 LuLu Hypermarkets and express stores in Saudi Arabia and the group currently employs 3,000 Saudi nationals, including 1,100 women, in their various outlets across the Kingdom.
