Lulu to invest over Rs 3,500 crores in Telangana to build mall, hypermarket besides projects related to food processing, retail, food sourcing and Logistics Hub…reports Asian Lite News
Abu Dhabi-headquartered Lulu Group unveils its plans to put south Indian state of Telangana on a global retail orbit. The group is planning to invest over Rs 3,500 crores in the next five years in the state to build mega mall, hypermarket besides projects related to food processing, retail, food sourcing and Logistics Hub. The capital city of Hyderabad will be the spot for the state’s first Lulu Mall and Lulu Hypermarket.
Lulu Mall in Hyderabad is likely to be inaugurated in August 2023. Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its presence.
The plan was announced by Mr Yusuff Ali MA, Chairman of Lulu Group during a press conference in the city in the presence of State Industry Minister KT Rama Rao.
The Lulu chairman said that Lulu Group’s investment in the state is the outcome of several discussions and an MOU it signed with the Government of Telangana during Mr Rao’s visit to World Economic Forum last year in Davos.
Yusuff Ali further said that the first project in Hyderabad is part of Rs. 500 Cr investment that Lulu committed to the state of Telangana. With an investment of Rs. 300 crore, 5 lakh. sq. feet mall earlier known as Manjeera Mall re-branded as Lulu Mall which will offer international shopping experience to the people of Hyderabad and its surrounding areas.
The mall will host a mega Lulu Hypermarket, more than 75 plus local and international brands, five screen cinema with a seating capacity of 1,400, multi cuisine food court, and children’s entertainment center etc. The mall is conveniently located at Kukatpally and will generate employment for more than 2,000 personnel.
The highlight of the mall will be 200,000 sq. feet Lulu Hypermarket which will offer extensive range of fresh produce and grocery and will have has separate sections for fashion, home appliances, electronics, mobiles, IT, and lifestyle products under the brand names, ‘Lulu Fashion Store’ and ‘Lulu Connect.
There will also be special sections to support and promote the local Telangana based agricultural and trade sectors, to further boost the employment opportunity for local youth.”
Additionally, Rs. 200 Cr will be spent on an export-oriented modern integrated meat processing plant at Chengicherla with a production capacity of 60 Tonnes per day. The project will generate employment for more than 2,500 personnel. Commercial operations expected to start at the facility in the next 18 months.
Apart from this, New investments of Rs 3,500 Crores to be committed in Telangana over the next 5 years by the Lulu group. It includes Destination shopping mall in Hyderabad with the investment of Rs 2,000 Crores and Mini malls on the outskirts of Hyderabad and other major cities and towns in the state with an investment outlay of Rs 1,000 Crores.
Lulu group also plans for an Agriculture sourcing and logistics hub near the Hyderabad Airport for facilitating exports & promotion of local Telangana produce across India and the world. Other plans include a seafood procurement and processing center to support the fishing industry.
With its more than 250 Hypermarkets and 24 shopping malls across 22 nations, Lulu Group has been expanding rapidly in India with investments in food processing and retail projects in Ahmedabad, Chennai, Srinagar, Greater Noida, Varanasi etc.
Lulu Group under the Chairmanship of Yusuff Ali MA is headquartered in Abu Dhabi, UAE has been known as a trendsetter of the retail industry in the Middle East and North Africa region. It operates over 250 hypermarkets and supermarkets and is immensely popular with discerning shoppers across the GCC, Egypt, India, Indonesia, and Malaysia.
It also employs more than 65,000- plus strong workforce from 42 different nations, has an annual turnover of USD 8 billion globally.