Abu Dhabi
Lulu Group unveiled expansion plans in Saudi Arabia due to growing opportunities in the kingdom. The retail group opened a hypermarket in Riyadh on Thursday and is planning to open fifteen more outlets in the country by 2020 with an investment of one billion Saudi riyals, according to the chairman of the group Yousuf Ali MA.
“We see tremendous growth opportunities in the kingdom and are glad to be part of the 2030 vision by further expanding our presence here,” Yousuf Ali said in a statement.
In 2018, the group will be opening three hypermarkets in Riyadh followed by one each in Tabuk and Dammam.
“Currently, our group employs more than 3,000 Saudi nationals which is approximately 40 per cent Saudisation and our goal is to give employment to 6,000 Saudi nationals by the end of 2020. We have a very elaborate and effective multi-level training program, through which we not only train them here but also send the local recruits to our other regions in the GCC & India for training in various departments.”
Apart from the retail expansion, Lulu group is also investing another 200 million Saudi riyals in setting up one million square feet state-of-the-art wholesale and logistics centre in King Abdulla Economic City (KAEC).
