Lulu Group to speculate Rs 3,000 cr to arrange shopping center at Ahmedabad
5 min readBy PTI
NEW DELHI: UAE-based billionaire Yussuf Ali’s Lulu Group International is coming into Gujarat, the place it could make investments Rs 3,000 crore to arrange presumably India’s greatest shopping center at Ahmedabad, an organization official mentioned.
The development of the Rs 3,000-crore shopping center, which might have all fashionable amenities, will begin early subsequent 12 months, mentioned Lulu Group Director of Marketing and Communications V Nandakumar.
The shopping center would supply direct employment to six,000 individuals and oblique employment to over 12,000 within the state, he added.
Confirming the event, Nandakumar advised PTI: “Discussions to amass the land to assemble this challenge are within the remaining levels and the inspiration stone of this mega shopping center will likely be laid early subsequent 12 months.
” The Ahmedabad-based shopping center can have over 300 nationwide and worldwide manufacturers, a 3,000-people capability meals court docket with multi-cuisine eating places, 15-screen multiplex cinemas with Imax, India’s greatest kids’s amusement centre and plenty of different points of interest.
This Rs 3,000 crore funding by Lulu Group International comes within the wake of an MoU signed by Lulu Group and the Government of Gujarat in the course of the lately held UAE street present by Chief Minister Bhupendra Patel in Dubai.
“Our aim is to make Ahmedabad one of the most prolific shopping destinations in India and there is no doubt that this Shopping Mall will be a milestone destination for everyone in India and abroad,” mentioned Nandakumar.
Commenting on the event Lulu Group’s Director of Indian Operations Ananth Ram mentioned, the Ahmedabad mall be “India’s greatest Shopping Mall with the largest Lulu Hypermarket as its anchor retailer.
“While Lulu Group International Chairman & Managing Director Yusuff Ali M A said: “Gujarat has developed lots beneath the dynamic management of Narendra Modiji, the then Chief Minister of Gujarat and our present Prime Minister and in addition beneath the sensible management of present Chief Minister of Gujarat Bhupendra Patel.
“Today Gujarat is looked upon as a destination for its state-of-the-art facilities and its ease-of-doing-business. I learnt the basics of business in Ahmedabad, Gujarat where my family members were doing business, Gujarat is very close to my heart,” he added.
Known for its sprawling enterprise pursuits worldwide, Lulu Group is now increasing in India, after having a outstanding presence within the southern elements of the nation for the previous a few years.
From supermarkets to meals processing to realty to monetary providers, the Abu Dhabi-based group runs its common supermarkets within the cities of Kochi, Bengaluru and Thiruvananthapuram.
Earlier in July this 12 months, it had opened its expansive grocery store in Lucknow to the general public.
Headquartered in Abu Dhabi, Lulu Group primarily operates in 23 international locations situated throughout the Middle East, Asia, the US, and Europe.
It has an annual turnover of USD 8 billion and a workers pressure of greater than 60,000.
The 66-year-old Yussuf Ali M A, the driving pressure behind the group and an affable and well-connected businessman, has been increasing his enterprise actions over time.
Born within the Thrissur district of Kerala the place he did his education earlier than transferring to Gujarat to pursue enterprise administration, Yussuf Ali just isn’t solely recognized for his enterprise success but in addition for his philanthropic methods.
He based Lulu Hypermarket in 2000 and now has operations in 22 international locations throughout the Middle East, Asia, the US, and Europe.
It has 235 retail shops in complete. LuLu Hypermarket, the retail division, has been generally known as a trendsetter of the retail business within the area.
It operates over 200 shops and is immensely common with discerning buyers throughout the GCC, Egypt, India, Indonesia and Malaysia.
NEW DELHI: UAE-based billionaire Yussuf Ali’s Lulu Group International is coming into Gujarat, the place it could make investments Rs 3,000 crore to arrange presumably India’s greatest shopping center at Ahmedabad, an organization official mentioned.
The development of the Rs 3,000-crore shopping center, which might have all fashionable amenities, will begin early subsequent 12 months, mentioned Lulu Group Director of Marketing and Communications V Nandakumar.
The shopping center would supply direct employment to six,000 individuals and oblique employment to over 12,000 within the state, he added.
Confirming the event, Nandakumar advised PTI: “Discussions to amass the land to assemble this challenge are within the remaining levels and the inspiration stone of this mega shopping center will likely be laid early subsequent 12 months.
” The Ahmedabad-based shopping center can have over 300 nationwide and worldwide manufacturers, a 3,000-people capability meals court docket with multi-cuisine eating places, 15-screen multiplex cinemas with Imax, India’s greatest kids’s amusement centre and plenty of different points of interest.
This Rs 3,000 crore funding by Lulu Group International comes within the wake of an MoU signed by Lulu Group and the Government of Gujarat in the course of the lately held UAE street present by Chief Minister Bhupendra Patel in Dubai.
“Our aim is to make Ahmedabad one of the most prolific shopping destinations in India and there is no doubt that this Shopping Mall will be a milestone destination for everyone in India and abroad,” mentioned Nandakumar.
Commenting on the event Lulu Group’s Director of Indian Operations Ananth Ram mentioned, the Ahmedabad mall be “India’s greatest Shopping Mall with the largest Lulu Hypermarket as its anchor retailer.
“While Lulu Group International Chairman & Managing Director Yusuff Ali M A said: “Gujarat has developed lots beneath the dynamic management of Narendra Modiji, the then Chief Minister of Gujarat and our present Prime Minister and in addition beneath the sensible management of present Chief Minister of Gujarat Bhupendra Patel.
“Today Gujarat is looked upon as a destination for its state-of-the-art facilities and its ease-of-doing-business. I learnt the basics of business in Ahmedabad, Gujarat where my family members were doing business, Gujarat is very close to my heart,” he added.
Known for its sprawling enterprise pursuits worldwide, Lulu Group is now increasing in India, after having a outstanding presence within the southern elements of the nation for the previous a few years.
From supermarkets to meals processing to realty to monetary providers, the Abu Dhabi-based group runs its common supermarkets within the cities of Kochi, Bengaluru and Thiruvananthapuram.
Earlier in July this 12 months, it had opened its expansive grocery store in Lucknow to the general public.
Headquartered in Abu Dhabi, Lulu Group primarily operates in 23 international locations situated throughout the Middle East, Asia, the US, and Europe.
It has an annual turnover of USD 8 billion and a workers pressure of greater than 60,000.
The 66-year-old Yussuf Ali M A, the driving pressure behind the group and an affable and well-connected businessman, has been increasing his enterprise actions over time.
Born within the Thrissur district of Kerala the place he did his education earlier than transferring to Gujarat to pursue enterprise administration, Yussuf Ali just isn’t solely recognized for his enterprise success but in addition for his philanthropic methods.
He based Lulu Hypermarket in 2000 and now has operations in 22 international locations throughout the Middle East, Asia, the US, and Europe.
It has 235 retail shops in complete. LuLu Hypermarket, the retail division, has been generally known as a trendsetter of the retail business within the area.
It operates over 200 shops and is immensely common with discerning buyers throughout the GCC, Egypt, India, Indonesia and Malaysia.
