Lulu opens new hypermarket in Malaysia
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UAE-based retail major Lulu Group has opened its first hypermarket in Kuala Lumpur, Malaysia, as part of its plans to further consolidate its retail presence in the Far Eastern region.
The 250,000 sq ft hypermarket was inaugurated by the Malaysian Prime Minister Datuk Sri Najib Tun Razak in the presence of Dato Sri Dr Ahmed Zahid Hamidi, Deputy Prime Minister, Minister of Agriculture and other government officials.
Lulu had recently announced its plans to set up 10 hypermarkets in Malaysia over the next five years at an investment of $300 million.
The new hypermarket is ideally located in the CapSqaure, Jalan Munshi area of Kuala Lumpur is expected to be one of its kind in the country and will attract large segment of population from all walks of life with its attractive product offers and range.
It is spread in three levels and combines everything from grocery and supermarkets products to fashion, household and latest electronics and gadgets, said a statement from the retailer.
Hot food from around the world, fresh seafood and locally grown produce are some of the key highlights in the supermarket area, it stated.
Speaking at the launch, Najeeb Razak said: “We are very pleased to welcome Lulu brand to Malaysia as this will pave way for more international brands to come and invest in the country. I am also hopeful that Lulu will surely open many more hypermarkets and malls not only in Kuala Lumpur but also in other parts of Malaysia.”
“We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,”
Yusuff Ali MA, the chairman, said: “With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by the end of 2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians.”
“We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he added.
Apart from the hypermarkets, Yusuffali also announced the group’s plan to invest another $500 million in setting up the largest shopping mall in Malaysia.
“Today the whole world knows about Malaysia’s economic stability, investor friendly approach, liberalized policies and world-class infrastructure and we are confident about our success here and our hypermarkets encompass both supermarket and department store formats and we intend to bring a whole new world of shopping to the residents of Malaysia.”
He added that other hypermarkets would be opening in Kota Baru (Kelantan), Shah Alam (Selangor), Johar Baru, Bangi, Ipoh (Perak), Malacca, Penang and Kuala Terengganu.
One of the largest retail chain in the Middle East, Lulu currently operates 126 stores across the GCC, Egypt, India, Indonesia and employs more than 38,000 people from different nationalities.
Questions & Answers
Q.Where is Lulu Group's first hypermarket in Malaysia located?
Where is Lulu Group's first hypermarket in Malaysia located?
The new hypermarket is situated in the CapSquare, Jalan Munshi area of Kuala Lumpur. It spans three levels and covers 250,000 sq ft, combining grocery, fashion, household items, and electronics.
Q.How many new hypermarkets does Lulu Group plan to open in Malaysia, and when?
How many new hypermarkets does Lulu Group plan to open in Malaysia, and when?
Lulu Group plans to open 10 hypermarkets by the end of 2021. This expansion is part of an initial $300 million investment phase, alongside a central logistics and warehousing facility.
Q.What other significant investment does Lulu Group intend to make in Malaysia?
What other significant investment does Lulu Group intend to make in Malaysia?
Apart from the hypermarkets, Lulu Group plans to invest another $500 million in Malaysia to establish the country's largest shopping mall. This is separate from the hypermarket expansion plan.
Q.What job creation is expected from Lulu Group's initial investments in Malaysia?
What job creation is expected from Lulu Group's initial investments in Malaysia?
The initial phase of investment, which includes 10 hypermarkets and a logistics facility, is expected to generate more than 5,000 job opportunities for Malaysians. This will also involve contract farming.
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