The Lulu Group International, a leading UAE retail conglomerate with substantial investments in India, revealed plans last year to build the country’s largest shopping mall in Ahmedabad. The group has earmarked a whopping Rs 3,000 crore for this venture, which promises state-of-the-art amenities. This project is expected to offer direct employment to 6,000 individuals and indirectly benefit over 12,000 more.
According to insiders, the group has been scouting for the perfect land parcel that meets their criteria for this colossal mall while staying within their budget.
With the opening of the mall, the Gujarat capital will get a shot in the arm as far as infrastructure development is concerned. Ahmedabad is gearing up for the Olympics 2036, and the Lulu Group, preparing to launch their most ambitious mall project (likely between Vaishnodevi Circle and Tapovan Circle) in the city will add to the city’s branding and skyline alike.
“The group has zeroed in on two land parcels on SP Ring Road, between Vaishnodevi Circle and Tapovan Circle. One spans 30,000 sq yards near The Hillock Hotel, while the other, closer to Tapovan Circle, covers about 65,000 sq yards,” shared a source familiar with the matter. He further said, “Current land prices in this area hover around Rs 1 lakh per sq yard.”
Government insiders say that Lulu Group representatives recently visited the city to finalise the deal and liaise with officials. They aim to commence construction of this mega mall this year itself.
Lulu Group’s upcoming mall will house over 300 national and international brands. Visitors can expect a sprawling food court that can accommodate 3,000 patrons, a 15-screen multiplex, India’s most extensive children’s amusement centre, and other attractions.
This significant investment follows an MoU signed between Lulu Group and the Gujarat government during a UAE roadshow led by Chief Minister Bhupendra Patel in Dubai last year.
After officials of the Sabarmati Riverfront Development Corporation Ltd (SRFDCL) visited Dubai to attract investments, popular builders like Sobha Group developers and Lulu Group are likely to visit the city next week or in the first week of September to understand and explore the potential and feasibility of the development projects which are likely to see investment. Sobha Group is into construction of luxurious and premium residential suits even as Lulu Group is into creating shopping malls and hypermarkets across the world.