Hyderabad (Telangana) [India], June 26 : UAE-based retailer, Lulu Group is all set to make an entry in Telangana as its first mall is getting ready in the state capital, Hyderabad. An announcement in this regard was made by Yusuff Ali MA, Chairman of Lulu Group, during a press conference here on Monday.
The Lulu Group chairman said that his investment in the state is the outcome of several discussions and an MoU it signed with the government of Telangana during Industry Minister KT Rama Rao's visit to the World Economic Forum last year in Davos.
Lulu Mall 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, he said.
With an investment of Rs 300 crore, the 5 lakh square feet mall earlier known as Manjeera Mall re-branded as Lulu Mall will offer an 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, 5 screen cinema with a seating capacity of 1,400, a multi-cuisine food court, and a children's entertainment centre. The mall is conveniently located at Kukatpally and will generate employment for more than 2,000 personnel, the group chairman said.
Additionally, Rs 200 crore will be spent on an export-oriented modern integrated meat processing plant at Chengicherla with a production capacity of 60 tonnes per day. Operations at the proposed plant is expected in the next 18 months, he said.
Apart from this, the Lulu group will commit new investments of Rs 3,500 crore in Telangana over the next 5 years. It includes the Destination shopping mall in Hyderabad with an 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, he said.
Yusuff Ali MA further added that Lulu Group also plans for an agriculture sourcing and logistics hub near the Hyderabad Airport to facilitate exports and promote local Telangana produce across India and the world. Other plans include a seafood procurement and processing center to support the fishing industry.
With 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, and Varanasi.
Lulu Group, headquartered in Abu Dhabi, UAE, has been known as a trendsetter in 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, and has an annual turnover of USD 8 billion globally.
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