LuLu Group has launched its newest hypermarket in Dammam, in the Eastern Province, with the inauguration of Lulu Mall. A major highlight of the mall will be a six-screen multiplex cinema, the first in the eastern region slated to be operational by mid-2019.
The hypermarket, LuLu’s 16th in the Kingdom and 161st globally, was officially inaugurated on Wednesday by Fahd Al-Jubair, mayor of the Eastern Province, in the presence of Abdul Rehman bin Fahad Al-Muqbel, director general at the Ministry of Labor; Khalid Ahamed Al-Obaid, director at the Ministry of Labor; Yusuff Ali M.A., chairman of Lulu Group; government officials and dignitaries.
Strategically located on King Fahd Road, the four-level shopping mall houses global brands, entertainment centers, food court and other facilities for the whole family. It is spread over a total built-up area of 580,000 square feet and is managed by Lulu Properties, the shopping mall division of Lulu Group.
LuLu chairman Ali said: “We are really excited to open this new mall and hypermarket in Dammam, which will not only bring world-class shopping to the residents here but also open employment opportunities for Saudi nationals.”
He added: “We are upbeat about the vast investment opportunities in Saudi Arabia, thanks to the Kingdom’s Vision 2030. We have already announced that as part of our expansion plans, 15 new hypermarkets will be opened in the Kingdom by 2020 at an investment of SR1.5 billion ($399 million). Under this plan, three hypermarkets have already been opened and another two hypermarkets are slated to open each in Riyadh and Jeddah this year. This is apart from the SR1.2 billion that we have already invested in the Kingdom so far.”
Ali said the retail chain has signed an agreement with the Saudi Arabian National Guard to open two shopping centers and seven supermarkets in Dammam and Al-Ahsa. “This will further generate sizable employment for Saudi youth and serve the National Guard officials and their families in the best possible manner. Works are in full swing to open three stores in the National Guard campus before the end of 2019.”
He added: “The Saudi economy is booming thanks to the major reforms being implemented by the visionary leadership here, and I am sure these initiatives will surely make the Kingdom one of the top global economic powerhouses.”
Apart from the retail expansion, LuLu is also investing another SR250 million in setting up a 1 million square feet state-of-the-art wholesale and logistics center in the King Abdullah Economic City (KAEC).
LuLu Group currently employs 3,050 Saudi nationals, including 750 women, in its hypermarkets across the Kingdom. “Our goal is to give employment to more than 5,000 nationals by the end of 2020, out of which 1,700 will be women,” Ali said.
“We also take this opportunity to extend our gratitude to the Custodian of the Two Holy Mosques King Salman, Crown Prince Mohammed bin Salman, and the government,” he added.
© 2024 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.