Yusuff Ali MA, chairman of Lulu Group, declared that the multinational conglomerate will take its first step in Telangana with the opening of Lulu Mall and Lulu Hypermarket in Hyderabad. Lulu Mall Hyderabad is a part of Lulu’s commitment of Rs. 500 crore investment to Telangana. Its investment in the state is the end result of several discussions and an MOU signed with the state government during Industry Minister KT Rama Rao’s visit to the World Economic Forum last year in Davos.
Located in Abu Dhabi, UAE, Lulu Group International was founded by Kerala-based M. A. Yusuff Ali in 2000. It operates a chain of malls, hypermarkets and retail companies across GCC (Gulf Cooperation Council) countries, Egypt, Malaysia, Indonesia and India.
But when is Lulu Mall opening? The mall will be tentatively inaugurated in August 2023. The 5 lakh square feet Manjeera Mall will be rebranded as Lulu Mall Hyderabad. With an investment of Rs. 300 crore, the mall will host more than 75 local and international brands, a five-screen cinema, a food court, and a kid’s entertainment zone. For those who are unaware, Kukatpally is the location of Lulu Mall. Once completed, the mall is expected to generate an employment opportunity for 2,000 personnel.
Lulu Mall Hyderabad will offer fresh produce as well as grocery shopping. Besides, it will be developed as a one-stop destination for home appliances, electronics, mobiles, IT, and lifestyle products under the names Lulu Fashion Store and Lulu Connect. The mall will also support local produce to boost employment opportunities in the state.
Apart from the Lulu Mall Hyderabad, Lulu Group will invest Rs. 3,500 crores in Telangana in the next five years. The group has future plans for agriculture sourcing, a logistics hub, seafood procurement and a processing centre. It also plans to establish mini-malls on the outskirts of Hyderabad and other cities in the state with an investment outlay of Rs 1,000 crore.