Tag: LULU

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Lulu Group all set to enter Telangana 

Located at Kukatpally, the mall will generate employment for more than 2,000 personnel…reports Asian Lite News

UAE-based retailer Lulu Group, which is all set to enter Telangana with its first Lulu Mall and Hypermarket, plans to invest Rs.3,500 crore in the state over the next five years.

Lulu group Chairman Yusuff Ali told a news conference here on Monday that Lulu Mall and Hypermarket in Hyderabad is likely to be inaugurated in August.

He said that the first project in Hyderabad is part of Rs. 500 crore investment that Lulu committed to the state.

With an investment of Rs 300 crore, the 5 lakh square feet mall will offer international shopping experience to the people of Hyderabad and its surrounding areas.

Earlier known as Manjeera Mall, it will be rebranded as Lulu Mall. It will host a mega Lulu Hypermarket with more than 75 local and international brands, 5 screen cinema with a seating capacity of 1,400, multi cuisine food court, and children’s entertainment centre.

Located at Kukatpally, the mall will generate employment for more than 2,000 personnel.

Lulu Hypermarket will offer an extensive range of fresh produce and grocery and will have 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.

The Lulu Group will make an additional investment of Rs. 200 crore in 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 people. Commercial operations are expected to start at the facility in the next 18 months.

Yusuff Ali 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 industry minister K.T. Rama Rao’s visit to the World Economic Forum last year in Davos.

The Lulu Group also plans to invest another Rs 3,500 crore in Telangana over the next fives, including Destination shopping mall in Hyderabad with the investment of Rs 2,000 crore 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 crore.

Lulu group also plans an agriculture sourcing and logistics hub near the Hyderabad Airport for facilitating exports and promotion of local Telangana produce across India and the world.

Other plans include a seafood procurement and processing center to support the fishing industry.

Rama Rao welcomed the investment and hoped that this will boost tourism in Telangana.

Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its presence.

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.

Lulu Group under the Chairmanship of Yusuff Ali MA is headquartered in Abu Dhabi, 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 strong workforce from 42 different nations, and has an annual turnover of $8 billion globally.

ALSO READ-Lulu opens world-class hypermarket in Coimbatore

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Business India News UAE News

Lulu opens world-class hypermarket in Coimbatore

Lulu chairman MA Yusuffali also announced plans to extend a range of projects, including the establishment of logistics centres, to diverse regions across Tamil Nadu….reports Asian Lite News

Lulu Group, the renowned global retail conglomerate, has marked its triumphant arrival in Tamil Nadu with the grand opening of a state-of-the-art hypermarket in Coimbatore. The hypermarket was inaugurated by Tamil Nadu Industries Minister TRB Raja in the presence of Lulu Group Chairman MA Yusuffali.

Situated at Lakshmi Mills Compound on Avinashi Road, the hypermarket stands tall as Tamil Nadu’s largest and most advanced shopping destination, offering an exceptional shopping experience to the people of Coimbatore. This venture also marks Lulu Group’s first foray into the vibrant state of Tamil Nadu, further reinforcing its commitment to providing world-class retail services.

The establishment of this hypermarket is the result of a Memorandum of Understanding (MoU) signed between Lulu Group and the Tamil Nadu government. The collaboration materialised following a meeting between Tamil Nadu Chief Minister MK Stalin and Lulu Group Chairman MA Yusuffali in Abu Dhabi.

Expressing his delight, Lulu Group Chairman M.A. Yusuffali stated, “We are thrilled to extend Lulu’s exceptional services to Tamil Nadu, offering the people of Coimbatore a convenient shopping haven equipped with cutting-edge facilities. The first phase of this project will generate direct and indirect job opportunities for around 5,000 individuals. Furthermore, with new ventures in the pipeline, more job prospects will emerge at the local level. We are also committed to establishing logistics centres across various locations to facilitate the export of Tamil Nadu’s agricultural products.”

The hypermarket boasts an extensive range of sections catering to grocery items, fresh produce, household essentials, department store products, and electronics. Additionally, a dedicated section has been designated to promote and market local products from Tamil Nadu, ensuring their prominence within the store. The hypermarket prioritises sourcing vegetables, fruits, and dairy products directly from the agricultural heartlands of Tamil Nadu, guaranteeing freshness and supporting local farmers.

The Coimbatore Lulu Hypermarket offers customers a one-stop destination for an array of offerings, including home appliances, electronics, beauty products, delectable hot food, and delightful bakery items. Furthermore, customers can indulge in a selection of the finest imported world-class food items, while also discovering branded products at competitive prices.

Lulu Group has made a significant commitment to the state, as an agreement with the Tamil Nadu government solidifies an investment of Rs 3,000 crore. Furthermore, plans are already underway to establish food sourcing units and logistics hubs across various locations in Tamil Nadu. Exciting prospects are also on the horizon, with the upcoming commencement of construction for the much-anticipated Lulu Mall in Chennai.

Lulu Group Executive Director M.A. Ashraf Ali, Lulu India and Oman Director A.V. Anand, Lulu Group CEO Saifi Rupawala, Lulu India CEO MA Nishad, Lulu India COO Rajith Radhakrishnan, and Lulu Group Global Communications Director V Nandakumar were among the guests present at the function.

ALSO READ: UAE Ministers, Top Diplomats, Stars Attend Marriage at Lulu Family

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Kerala UAE News

UAE Ministers, Top Diplomats, Stars Attend Marriage at Lulu Family

UAE Minister HH Sheikh Nahyan bin Mubarak Al Nahyan, Indian film stars Mammooty, Mohanlal attend the marriage of Fahima, daughter M.A. Ashraf Ali, Lulu Executive Director) and Seena Ashraf…reports Asian Lite News

Who’s who of the Emirati community attended the marriage of the year at Abu Dhabi Emirates Palace. Fahima, the niece of Lulu Group Chairman M.A. Yusuff Ali, exchanged vows with Mubeen, the son of Musthafa Mullikote, Chairman of Siraj International Group. The star-studded event witnessed the gathering of esteemed guests from various walks of life.

Fahima is the daughter M.A. Ashraf Ali, (Lulu executive director) and Seena Ashraf.

Among the notable dignitaries include UAE Tolerance Minister Sheikh Nahyan bin Mubarak Al Nahyan, Minister of State for Foreign Affairs Sheikh Shakhboot bin Nahyan Al Nahyan, and Undersecretary of Ministry of Finance Younis Haji Al Khoori. Also in attendance were esteemed personalities like Khalil Mohammed Sharif Foulathi, Board Member of Abu Dhabi Investment Authority, and Fahad Bin Abdullah Saleh Al Othaim, Vice Chairman of Al Othaim Company.

The wedding celebration boasted an international flavour with the presence of India’s Ambassador to the UAE, Sunjay Sudhir, as well as Italian Ambassador Lorenzo Fanara and Irish Ambassador Alison Milton. Prominent NRI figures such as P.V. Abdul Wahab, Member of Parliament, Dr. Azad Moopen, Chairman of Aster DM Healthcare, Ajay Bijli, Chairman of PVR Cinemas, added their distinguished presence. Notably, Joy Alukkas, Chairman of Joyalukkas Group, Vinod Jayan, Managing Director of Ikea, and K. Madhavan, President of Star India, were also among the eminent guests.

Representing the world of entertainment, celebrated stars including Mammootty, Mohanlal, Jayaram, Dileep, Kavya Madhavan, Kunchacko Boban, Jayasurya, Asif Ali, Tovino Thomas, Joju George, Anto Joseph, Ramesh Pisharody, and Aparna Balamurali graced the occasion, adding a touch of glamour to the festivities.

ALSO READ: Kerala nurse wins Dh20 million in Big Ticket draw

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-Top News India News UAE News

LuLu pledges Dh10mn to 1B Meals campaign

Lulu Group chairman Yusuff Ali hailed the campaign and said that the UAE is always at the forefront of humanitarian efforts…reports Asian Lite News

Yusuff Ali M.A, Chairman of Lulu Group International, announced a contribution of AED 10 million over a period of 5 years to the “1 Billion Meals Endowment” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to establish the largest Ramadan sustainable food aid endowment fund.

Organised by Mohammed bin Rashid Al Maktoum Global Initiatives, the “1 Billion Meals Endowment” campaign aims to create sustainable solutions and implement effective programs to fight hunger and support underprivileged populations around the world.

Yusuffali MA said, “The contribution to the ‘1 Billion Meals Endowment’ campaign is a reflection of my commitment to support all charity efforts that strengthen the UAE’s reputation as a global hub for humanitarian efforts.

“I am honoured to contribute to the campaign and help provide food and support those in need. The UAE is always at the forefront of humanitarian efforts.”

This year’s campaign is an extension of previous food aid drives, launched under directives of Sheikh Mohammed bin Rashid Al Maktoum over the past few years, starting with “10 Million Meals”, followed by “100 Million Meals” and later “1 Billion Meals” in Ramadan 2022.

“1 Billion Meals Endowment” campaign aims to provide a food safety net for underprivileged populations in countries struggling with food insecurity. These efforts will help fight hunger and malnutrition, especially among victims of crises and natural disasters.

On the other hand, the campaign offers individuals, businesses, businessmen and influential philanthropists new ways to donate and make a difference, further promoting the culture of endowment as a traditionally rooted tool of development, and an investment for the future.

Record collection

The campaign, has so far recorded AED 247 million, one week after its launch. The campaign received donations from 13,220 major contributors, individuals, businesses and public and private sector players.

Among those, 13,195 contributors donated via smart channels.

The campaign is a practical example of the UAE’s long-held values of giving and generosity, and a community-wide response to His Highness Sheikh Mohammed’s call for aiding those in need.

Mohammad Al Gergawi, Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives, said: “The “1 Billion Meals Endowment” campaign reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum for sustaining charitable efforts, opening the door for everyone hoping to make a lasting impact. On the other hand, the remarkable response we see across the UAE community is a reflection of its long-held values of giving and generosity, and a testament of its moral sense of responsibility towards the global efforts to eradicate hunger around the world.”

“The campaign paves the way for a new concept of charitable work that is sustainable and impactful in a way that meets the specific needs of underprivileged populations. The food aid endowment fund created under the campaign is a key milestone in UAE’s humanitarian efforts.

“Our community’s race to contribute, with 13,220 contributors donating AED 247 million in one week only, is not new to our community. We are confident that the next days will see more contributions to the endowment fund,” he concluded.

Organised by Mohammed bin Rashid Al Maktoum Global Initiatives, the “1 Billion Meals Endowment” campaign aims to create sustainable solutions and implement effective programmes to fight and eradicate hunger, and support vulnerable groups around the world.

Donation Channels

The “1 Billion Meals Endowment” campaign welcomes donations and contributions to the endowment fund from institutions and individuals across five main channels including the campaign’s website (www.1billionmeals.ae), as well as a dedicated call centre via the toll-free number (800 9999).

Donations are also possible via bank transfers in the UAE dirham to the campaign bank account number with Emirates NBD (AE30 0260 0010 1533 3439 802). Donations via SMS give contributors the option to donate AED 1 daily through a monthly subscription, by sending the word “Meal” to 1020 for du users, or to 1110 for Etisalat by e& users. Those who wish to donate to the campaign through the DubaiNow app can do so by clicking on the “Donations” tab.

ALSO READ: Lulu launches “Happiness Rewards”

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Abu Dhabi Business UAE News

Lulu launches “Happiness Rewards”

Shoppers can join this program easily though kiosks at Lulu hypermarkets or online and benefit from various exclusive offers and redeemable points….reports Asian Lite News

Abu Dhabi-based retail giant Lulu Group unveiled their most looked forward to reward programme “Happiness” in the UAE on Monday to coincide with the International Happiness Day.

Mr Yusuffali MA, CMD of Lulu Group and other top officials unveiled the “Happiness” reward programme at a ceremony organised at Lulu Hypermarket in Mushrif Mall, Abu Dhabi.

 “This is another initiative by us to add more happiness to our customer’s daily shopping,” said Mr Yusuffali MA. “We are delighted to come out with this unique rewards programme today as the whole world is celebrating Happiness Day and the holy month of Ramadan is just round the corner.”

“I am sure ‘Happiness Rewards’ will surely bring in more value, savings and convenience to our loyal shoppers who have always supported us. This is our way of saying thank you”
–MR YUSUFFALI MA, CMD OF LULU GROUP

 “I am sure ‘Happiness Rewards’ will surely bring in more value, savings and convenience to our loyal shoppers who have always supported us. This is our way of saying thank you,” he added.

Once registered the shopper can use their “Lulu App” or registered mobile number to get rewards at the cash counters instantly.

Elaborating the various key features of this program V. Nandakumar, Director of Marketing & Communications, Lulu Group said: “We have focused on 5 key benefits for this program members i.e., Instant additional discounts, Reward points, Exclusive member prices, Privileges and offers from other brands and tenants. In short, Lulu shoppers can now look forward to an amazing array of promotions guaranteed to bring enhanced savings and happiness”.

Others top officials of Lulu Group present at the ceremony were Saifee Rupawala – CEO, Saleem VI – COO, Shabu Abdul Majeed – Retail Operations Director, Mohd Anish – CIO, EP Namboothiri – CFO, KK Prasad – Director of Audit, Santhosh Pillai – Retail Audit Director among others.

Shoppers can join this program easily though kiosks at Lulu hypermarkets or online and benefit from various exclusive offers and redeemable points. Initially the “Happiness” is available in UAE and soon will be rolled out across its 248 stores in the GCC.

ALSO READ: Lulu To Build Mall of Srinagar

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Business Social Media

Lulu unveils AI-powered customer experiences on WhatsApp

Chinese hackers luring Indian WhatsApp users into 'part-time' jobs

Since July 2022, Salem has delivered over 300+ personalized offers on WhatsApp, recording a 40% increase in opt-ins through them…reports Asian Lite News

Committed to driving excellence in customer experience, international retailer Lulu Hypermarket has launched Salem, a new AI-powered customer service channel available on WhatsApp. The service is powered by Yellow.ai, a leading enterprise-grade Conversational AI platform.

Customers can now receive in-app purchase receipts, quickly track the delivery of their online orders and message for purchase-related customer support – all through WhatsApp. Customers in  the UAE can also use WhatsApp to order products for in-store collection.

Lulu Hypermarket has also become one of the first retailers in the Middle East to introduce a loyalty programme via WhatsApp, through which customers can sign up for personalized offers based on their purchase history. Since July 2022, Salem has delivered over 300+ personalized offers on WhatsApp, recording a 40% increase in opt-ins through them.

With deep backend integration with the retailer’s CRM and Order Management system, Salem is capable of efficiently engaging with customers across the stages of their purchase journey, and has markedly improved customer satisfaction by up to 60%.

V. NandaKumar, Director of Marketing and Communications at Lulu group, said: “Salem has considerably reduced the workload on Lulu Hypermarket’s customer support agents, allowing them to concentrate on more crucial tasks. Within 4 weeks of going live, it has successfully handled queries from over 3M unique users on WhatsApp and will continue to scale up in the coming months. At the same time, it is capable of smoothly switching customer conversations to live agent support in the case of complex issues”.

Raghu Ravinutala, CEO and Co-founder, Yellow.ai, said, “Conversational AI-powered solutions coupled with conversational commerce on messaging channels such as WhatsApp are quickly and effectively changing the game of retail digital commerce and helping brands stand out in a highly cluttered market. The sheer convenience quotient that this provides not only helps elevate customer experiences but also translates to greater conversion rates. And Salem is a true testimony to that. We are excited to work alongside a legacy brand like Lulu Hypermarket towards delivering delightful customer experiences and contributing to their overall digital transformation journey”.

Nicolas Farin, Head of Client Sales EMEA, Business Messaging at Meta says, “We continue to see a growing demand from customers, particularly in the Middle East, to connect with a business in the same way they chat with their friends and family – through quick, easy and secure messaging. We hope this partnership will continue to improve customer journeys, offering new and innovative ways to connect on WhatsApp”.

Click here to start a chat with Lulu Hypermarket on WhatsApp today!

ALSO READ-Lulu inks deal to promote UAE agricultural produce

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India News UAE News

Lulu inks deal to promote UAE agricultural produce

Lulu Group will procure 15,000 tonnes of fresh fruits and vegetables from Elite Agro over the next year, which will be promoted and sold through all Lulu Hypermarkets in the UAE….reports Asian Lite News

In the presence of Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, the Abu Dhabi headquartered Lulu Group has signed a Memorandum of Understanding (MoU) with Elite Agro Holding to procure and promote the locally grown vegetables, In addition to launching “Khair Al Emarat” to promote local agricultural products.

The MoU was signed by Dr. Abdulmonem Almarzooqi, CEO of Elite Agro Holding, and Saifee Rupawala, CEO of Lulu Group, in the presence of Yusuffali MA, Chairman of Lulu Group at Lulu Hypermarket in Abu Dhabi.

As part of the agreement, Lulu Group will procure 15,000 tonnes of fresh fruits and vegetables from Elite Agro over the next year, which will be promoted and sold through all Lulu Hypermarkets in the UAE.

Speaking on the occasion, Elite Agro Holding Chief Executive Officer and Member of the board Dr. Almarzooqi said, “Our agreement with LuLu Group, one of the largest retailers in the GCC, Asia and Africa, enhances our farm to table offering for locally-grown, fresh varieties of healthy fruit and vegetables. We look forward to strengthening our relationship with LuLu Group through this MoU and increasing our production of high quality locally grown food that our customers can trust.”

“Furthermore, this MoU also underlines Elite Agro’s commitment to boosting local farms production capacities, as well as increasing food security and competitiveness in the UAE. We give our unwavering support to the recently-announced UAE Vision 2031 to increase investment in the food sector by 100 percent by 2030” he added.

For his part, Yusuffali MA commented, “We are extremely proud and delighted to join hands with Elite Agro Holding to procure and promote locally grown vegetables. As a key stakeholder in the food security of the country, we have always been supporting UAE agricultural sector and I am sure this MOU will further widen the market and popularity of locally grown Agri-produce.”

“Our UAE farmers and the local manufacturers are industrious and hard-working. On the occasion of UAE National Day, we felt it was only fitting to award them and recognise their contribution to our beloved Emirates,” he added.

ALSO READ: UAE@51: Marching Ahead

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Business UAE News

Amazon, Lulu ink deal for seamless online shopping in UAE

The agreement aims to expand grocery offering for online customers on Amazon.ae…reports Asian Lite News

Continuously looking for ways to innovate on behalf of customers, Amazon in the UAE today announced the signing of an agreement with LuLu Group.

The aim of the agreement is to deliver an elevated online grocery offering for customers in the UAE, paired with both fast and convenient delivery options.

The new relationship will see both companies work together to deliver a seamless online grocery shopping journey backed by wide selection, including everyday essentials and fresh grocery items, great prices, as well as fast delivery options on www.amazon.ae.

The new online grocery offering will give customers the chance to enjoy a wider grocery selection of high-quality products, including everyday essentials and fresh groceries, at great prices.

“Such partnerships are what Abu Dhabi and the UAE continue to push for, as we play host to and work to support private sector players in their drive to innovate, provide modern and seamless experiences to customers, and grow as we keep developing a supportive business ecosystem to cement Abu Dhabi’s status as a preferred destination for business and investments. We congratulate Amazon and Lulu Group and hope this agreement will help both parties reach new heights in serving UAE customers,”said H.E. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED)

As part of this collaboration, Amazon and LuLu Group are combining their best-practice, customer knowledge, logistics innovation, technology expertise, to optimize operational efficiencies, reduce delivery times, and provide an overall exceptional experience giving customers in the UAE what they truly want and need, as they shop for groceries.

“Driven by our customer-obsession, innovation, and long-term thinking, we are very proud to be working alongside LuLu Group who also holds customer-centricity at the heart of its business,” said Ronaldo Mouchawar, Vice President for Amazon Middle East and North Africa.

“We are always looking for ways to improve the service we deliver to our customers and provide additional benefits to them as they shop with Amazon, and we are confident they will enjoy shopping for groceries through this new offering as we launch it across the UAE.” he added.

Yusuff Ali, Chairman and Managing Director of Lulu Group, said that “Our customers’ needs remain our main business priority, we believe in listening to customers and adapting our model to cater to their evolving shopping preferences.

“We are excited to be working with the Amazon team on this journey in the UAE, pairing their advanced technology capabilities with our decades of experience, to offer an innovative online grocery offering. As we roll out this shopping experience in stages, we look forward to connecting with millions of customers shopping on Amazon.ae,” he added.

Over the coming weeks, customers across the UAE will start to see the new grocery offering go live through the LuLu storefront on www.amazon.ae, as this rolls out to online shoppers across the country in stages, ensuring the best possible experience.

ALSO READ: UAE launches Dh1bn ‘Emirates Villages’ Project

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Africa News Business Dubai

Lulu plans to set up modern logistics hub in South Africa

President Ramaphosa during his speech praised Lulu Group for its leading role in nurturing meaningful and friendly ties with South Africa…reports Asian Lite News

South African President Cyril Ramaphosa has given a go ahead for UAE based retailer Lulu Group’s plan to set up a modern logistics hub in Johannesburg.  The President was speaking after inaugurating “Produly South African” Food Festival held at Lulu Hypermarket at Al Rawabi District in Jeddah as part of his official visit to the Kingdom of Saudi Arabia.

President Ramaphosa during his speech praised Lulu Group for its leading role in nurturing meaningful and friendly ties with South Africa. He welcomed the suggestion of Lulu to set up logistics hub in his country and indicated that his government would work closely with Lulu to make this a reality by 2024.

The President was accompanied by Ahmed bin Aqeel Al Khatib, Saudi Minister of Tourism, Ibrahim Patel, South African Minister of Trade Industry and Competition, Naledi Pander,  Minister of International Relations and Cooperation, Thoko Didiza, Minister of Agriculture, Land Reform and Rural Development and Thandi Modize – Minister of Defense and Military Veterans.

The “Proudly South African” Festival showcase the range of juicy and wholesome food on the shelves from South Africa – fruits and veg, exotic antipasti condiments made from South African peppers, juices and high-quality canned fruit along with top South African brands such as Nando’s, Westphalia, Blue Diamond Almond Milk, Rooibos Tea, Dew lands Juices and Cape Herb & Spice among others.

“LuLu Group has recognized the range and quality of South African products and you will find more and more of them on our shelves,” said Shehim Mohammed, Director, LuLu Saudi Hypermarkets. The bounty of South African produce at our LuLu festival is symbolic of our increasing ties with Africa where the LuLu Group has been exploring supply-chain possibilities and agribusiness options, he added.

Also present on the occasion were Mogobo David Magabe, South African Ambassador to Saudi, Sabu George, Lulu South Africa Director and other top officials.

ALSO READ-Lulu Exchange announces collaboration with Ministry of Interior

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-Top News UAE News

Lulu forging ahead with listing plan on ADX 2023

A number of other firms are considering theirs initial public offerings on ADX and the Dubai Financial Market to build up resilience against international uncertainties…reports Asian Lite News

The Lulu Group International is forging ahead with its plans to get listed on the Abu Dhabi Securities Exchange (ADX) in 2023, according to V. Nandakumar, Director of the Marketing and Communications, at the Abu Dhabi-based group.

In exclusive statements to the Emirates News Agency (WAM), Nandakumar said that the conglomerate is making steady progress with its initial public offering plans to list shares on the Abu Dhabi bourse next year.

Since the start of the year, financial markets have been witnessing increased IPOs and new listings, he said, stressing that the group’s listing on the UAE financial markets is a major opportunity to contribute to the sustainable growth of the Emirati economy.

The recent period saw multiple listings on the UAE bourses, including Abu Dhabi Ports, the Dubai Electricity and Water Authority (DEWA), Borouge, TECOM Group, SALIK, Burjeel Holdings, ADC, Fertiglobe, ADNOC Drilling, Alpha Dhabi Holding, and Multiply.

A number of other firms are considering theirs initial public offerings on ADX and the Dubai Financial Market to build up resilience against international uncertainties.

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