UAE-based retail giant LuLu Group has announced plans to invest an additional $1.2 billion (Rs 100 billion) in India over the next three years. The investment will be allocated to various ongoing projects in the country, according to Group Chairman Yusuff Ali MA. The primary objective of this investment is to generate employment opportunities for 50,000 individuals in India, building upon the 22,000 jobs that LuLu Group has already created through its various enterprises.
LuLu Group, known for its diverse operations in sectors ranging from hypermarkets to hospitality, has already invested an estimated Rs 200 billion in several projects across India. Yusuff Ali further revealed that the company has committed around Rs 35 billion for investments in the southern state of Telangana over the next five years. This includes the development of a Destination Shopping Mall and other ventures.
Among the upcoming projects, LuLu Group is constructing shopping malls in Ahmedabad and Chennai, with a food processing plant underway in Noida, Uttar Pradesh, and another in Telangana. Additionally, the company is set to inaugurate a 500,000 sq ft Lulu Mall in Hyderabad in August. Plans for an export-oriented modern integrated meat processing plant and a state-of-the-art Destination Mall spanning 2.2 million sq ft are also in progress.
Yusuff Ali expressed his confidence in the Indian market, highlighting LuLu Group’s continuous commitment to expanding its presence and contributing to the country’s economic growth.