LULU GROUP plans to open hypermarkets in Indonesia

LULU GROUP , based in Abu Dhabi, with stores throughout the Middle East and India, now plans to invest in Indonesia.

Yusuffali MA , Managing Director and Group developer , announced it will spend $ 500 million to open hypermarkets in Indonesia. With an initial investment of USD 300 million in the first phase, the Group plans to open 15 hypermarkets by the end of 2017 .

The LULU hypermarkets are installed in many countries of the Middle East (Kuwait , Oman, Qatar , Saudi Arabia , UAE , Egypt, Yemen) where their market share would be 32 %. The 117th store was opened in Sohar in Yemen last July.

source: deel street asia