Modon Holding partners with LuLu to develop retail facilities in the UAE and Egypt

(MENAFN- Weber Shandwick) Abu Dhabi, 29 October 2024 – Modon Holding PSC (“Modon Holding”) announced today that it has partnered with LuLu Retail, a leading retail chain in the Middle East, to develop and operate hypermarkets and other retail facilities in the UAE and Egypt.

Modon Holding will leverage its expertise in large-scale project development to ensure the provision of community retail in the form of hypermarkets, supermarkets and other retail outlets to be operated by LuLu across Modon’s UAE and Egypt portfolio which in the future will be home to millions of residents. Additionally, the two parties will jointly explore high-potential locations for retail development, implement smart retail solutions and advanced logistics infrastructure, and enhance customer experiences with innovative retail technologies.

This partnership, formalised in a memorandum of understanding (MoU), marks an important step in Modon Holding’s broader growth agenda, which includes actively targeting high-potential sectors for its projects’ expansion.

A working committee with representatives from Modon Holding and LuLu Retail will ensure seamless collaboration, effective communication and identification of potential collaborative projects, activities and initiatives. The committee will enable the two parties to exchange expertise and make informed decisions, meeting operational needs and maximising mutual benefits.

Headquartered in Abu Dhabi, LuLu is a leading retail chain in the Middle East. Its international business portfolio ranges from retail operations and shopping mall development to manufacturing and trading of goods, hospitality and real estate. LuLu has a presence in 23 countries across the Middle East, Asia, US and Europe.

LuLu Retail operates a network of 240 stores, comprising 116 hypermarkets, 102 express stores and 22 mini markets across all GCC countries. The company sources high-quality products from 85 countries with the aim of mitigating supply risk and maintaining availability throughout the year. It also serves as a mandated food security partner in the UAE, Oman and Bahrain.

His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “Our collaboration with LuLu Retail highlights our commitment to delivering vibrant lifestyle communities that address the full spectrum of resident’s needs. A testament to our shared vision of growth, this MoU sets the stage for an exceptional retail experience within our developments, ensuring long-term value for Modon residents in the UAE and Egypt.”

Yusuff Ali, Chairman & Managing Director of LuLu Group, said: “We are excited to collaborate with Modon Holding as we continue to expand our footprint. This MoU will allow us to offer unparalleled shopping experiences that blend quality and innovation while catering to the diverse requirements of the communities in the UAE and Egypt.”

Bill O'Regan, Group Chief Executive Officer of Modon Holding, said: “Partnering with LuLu Retail enables us to create retail environments that encourage community connections and pave the way for the future of shopping. By combining our expertise, we will be ideally positioned to bring state-of-the-art retail offerings to our sustainable, people-centric developments across the UAE and Egypt.”

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