UAE-based Lulu Group opened its new shopping center in Bengaluru and can full two extra properties in India throughout the subsequent six months as the corporate stays bullish on the long-term progress of the retail enterprise.
Yusuf Ali, MA-CMD, Lulu Group commented on this and mentioned that the corporate has invested round Rs 4,500 crore for the event of 5 buying malls in India within the first part of enlargement within the nation and out of 5, Kochi, Three malls are already operational in Thrissur and now in Bengaluru.
The “International Mall” in Rajajinagar, Bengaluru, which covers 8 lakh sq. toes, just isn’t owned by the Lulu Group, however will handle and function the property.
He additionally mentioned that “We have now a giant hypermarket in Kochi and a small hypermarket in Thrissur district. This (in Bengaluru) is our third hypermarket in India.”
Other than the two lakh sq ft hypermarket, Bengaluru Mall can have a primary of its form leisure space, unfold over 60,000 sq ft.
The upcoming mall in Trivandrum will open by the top of this yr, whereas the retail mall in Lucknow is scheduled to open within the first quarter of 2022, and acknowledging the significance of on-line retail, Lulu Group CMD mentioned that it’s an all-encompassing participant.
The group’s operations span 22 nations with its flagship retail chain of Lulu hypermarkets and supermarkets. At present, the Lulu Group operates 215 Lulu shops and 23 buying malls within the GCC, Egypt, India and the Far East.
The group’s enterprise portfolio ranges from hypermarket operations to shopping center improvement, items manufacturing and buying and selling, meals processing crops, wholesale distribution, hospitality property and actual property improvement.