UAE-based billionaire Yussuf Ali’s Lulu Group International is all set to enter Gujarat. The group plans to invest Rs 3,000 crore to set up India’s biggest shopping mall in Ahmedabad. This would be Lulu Group’s third shopping mall in the country after Kochi, (Kerala) and Lucknow (Uttar Pradesh).
The construction of the Rs 3,000-crore shopping mall will start early next year, said Lulu Group Director of Marketing and Communications V Nandakumar. It would provide direct employment to 6,000 people and indirect employment to over 12,000 in the state.
The Ahmedabad-based shopping mall will have over 300 national and international brands, a 3,000-people capacity food court with multi-cuisine restaurants, 15-screen multiplex cinemas with Imax, India’s biggest children’s amusement centre and many other attractions.
Nandakumar said, “Discussions to acquire the land to construct this project are in the final stages and the foundation stone of this mega shopping mall will be laid early next year. Our aim is to make Ahmedabad one of the most prolific shopping destinations in India.”
The investment comes in the wake of an MoU signed by Lulu Group and the Government of Gujarat during the recently held UAE road show by Chief Minister Bhupendra Patel in Dubai.
Known for its sprawling business interests worldwide, Lulu Group is now expanding in India, after having a prominent presence in the southern parts of the country for the past many years. From supermarkets to food processing to realty to financial services, the Abu Dhabi-based group runs its popular supermarkets in the cities of Kochi, Bengaluru and Thiruvananthapuram.
Headquartered in Abu Dhabi, Lulu Group mainly operates in 23 countries located across the Middle East, Asia, the US, and Europe. It has an annual turnover of USD 8 billion and a staff force of more than 60,000.