(MENAFN- Khaleej Times) Abu Dhabi-based retailer LuLu Group has forayed into the south Indian state of Telangana with the opening of its maiden 500,000sqft mall and hypermarket in the capital city of Hyderabad.
The group plans to invest Rs35 billion in the state over the next three years. Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its presence.
KT Rama Rao, Telangana Minister for IT, Industries and Urban Development, inaugurated LuLu Mall, while Aaref Ali Al Taboor Al Nuaimi, UAE Consul-General in Hyderabad, opened LuLu Hypermarket, in the presence of Yusuffali MA, chairman and managing director of LuLu Group, and other dignitaries.
“LuLu Group can use Telangana as a stepping stone for many good things. The government assures all support for the group. I would like to thank Yusuffali MA for his generosity, kindness, and great vision,” Rao said.
The shopping mall built with an investment of Rs3 billion is located in Kukatpally, a rapidly developing area in Hyderabad. The launch of the establishment is the outcome of several discussions and an MoU signed with the Government of Telangana during Rao's visit to the World Economic Forum in Davos last year.
KT Rama Rao, Aaref Ali Al Taboor Al Nuaimi, and Yusuffali MA with other dignitaries at the opening of LuLu Mall in Hyderabad.
Yusuffali said the group is planning multiple investments in Telangana.“This is our first venture in the state. Our second project will be an export-oriented state-of-the-art food processing facility, including the meat processing centre in Hyderabad. We will be planning a seafood procurement and processing centre to support the local fishing industry at an investment of approximately Rs3,500 crores in three years, including a destination shopping mall, mini-malls, and agricultural sourcing hubs, to facilitate 100 per cent exports and promote local Telangana across India and overseas.”
Yusuffali highlighted the ease of doing business in the state.“We had made many rounds of fruitful discussions with the state government, and the speed with which they approved the project is commendable. KTR (as Rao is popularly called) was working day and night at the last World Economic Forum to meet the investors. I was impressed by his hard work and dedication,” he added.
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Lulu Mall Hyderabad will generate employment for more than 2,000 people. It houses a hypermarket, more than 100 local and international brands, 1,400-seater 5-screen cinemas, a food court with 15 multi-cuisine restaurants, a 2,000sqft entertainment centre, and parking space for 1,000 cars and 900 bikes among other facilities.
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