Kuala Lumpur, Malaysia , 2016-Jun-29 — /EPR Retail News/ — Kuala Lumpur: LuLu Group further consolidate its retail presence in the Far East by opening the first LuLu Mall with hypermarket in Malaysia. The 250,000 sq. ft. hypermarket was inaugurated by the Malaysian Prime Minister Datuk Sri Najib Tun Razak in the presence of Dato Sri Dr. Ahmed Zahid Hamidi, Dy. Prime Minister, Minister of Agriculture, Govt. officials, Ambassadors of UAE and the High Commission of India, and other dignitaries.
The group had recently announced its plans to invest US$ 300 million RM 1.3 billion as part of its expansion and intends to set up 10 hypermarkets in the next 5 years in the country.
The new hypermarket is ideally located in the CapSqaure, Jalan Munshi area of Kuala Lumpur, and is expected to be one of its kind in the country and will attract a large segment of population from all walks of life with its attractive product offers and range. The new hypermarket is spread in 3 levels and combines everything from grocery and supermarkets products to fashion, household and latest electronics and gadgets. Hot food from around the world, fresh seafood and locally grown produce are some of the key highlights in the supermarket area.
Speaking at the inaugural ceremony, Prime Minister Najeeb Razak said “We are very pleased to welcome LuLu brand to Malaysia as this will pave way for more international brands to come and invest in Malaysia. I am also hopeful that LuLu will surely open many more hypermarkets and malls not only in Kuala Lumpur, but also in other parts of Malaysia.”
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end of 2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians,” said Yusuff Ali M.A., Chairman, LuLu Group, while commenting about the first LuLu Hypermarket in the country. “We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he added.
“Today the whole world knows about Malaysia’s economic stability, investor friendly approach, liberalized policies and world-class infrastructure and we are confident about our success here and our hypermarkets encompass both supermarket and department store formats and we intend to bring a whole new world of shopping to the residents of Malaysia.” He added that other hypermarkets would be opening in Kota Baru Kelantan, Shah Alam Selangor, Johar Baru, Bangi, Ipoh Perak, Malacca, Penang and Kuala Terengganu.
Apart from the 10 hypermarkets which are already planned, Yusuff Ali also announced the group’s plan to invest another US$ 500 million in setting up the largest shopping mall in Malaysia.
During his official visit to UAE in 2014, Malaysian Prime Minister Dato Sri Najeeb Razak had visited LuLu Hypermarket in Abu Dhabi and expressed keen desire to have LuLu in Malaysia. He was especially impressed by the high standards of operations, quality of products & service, and also the wide variety of products available in LuLu.
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Source: Lulu Group