UAE-based retail giant Lulu Group has announced its plans to invest over Rs. 3,500 crores in the Indian state of Telangana over the next five years. The investment will be allocated towards setting up malls and food processing facilities. Lulu Group’s chairman, Yusuff Ali MA, stated that the investments will include Rs. 2,500 crores for establishing a destination mall on the outskirts of Hyderabad, which is expected to create approximately 12,000 jobs. The group has also signed Memorandums of Understanding (MoUs) with the Telangana government for these investments.
Lulu Group’s first project in Telangana will involve a Rs 300 crore investment in launching the first Lulu Mall and Lulu Hypermarket in Hyderabad’s Kukatpally area. The group has taken over the 5 lakh-square-foot Manjeera Mall for this purpose. The Lulu Hypermarket, covering an area of 2 lakh square feet, will offer a wide range of products, including fresh produce, groceries, fashion, home appliances, electronics, mobiles, IT, and lifestyle products, under the brand names Lulu Fashion Store and Lulu Connect. The mall is expected to be inaugurated in August of this year. This project is part of the Rs 500 crore MoU signed by Lulu Group with the Telangana government during the World Economic Forum in Davos last year. Hyderabad will become the sixth city, after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore, to have a Lulu Group presence.
Lulu Group will also invest an additional Rs. 200 crores in setting up a 100% export-oriented integrated meat processing plant in Chengicherla with a daily production capacity of 60 metric tonnes. This project, anticipated to create employment for over 2,500 people, is projected to commence commercial operations within the next 18 months.
Additionally, Lulu Group plans to establish mini-malls on the outskirts of Hyderabad and other major cities and towns in Telangana with an investment of Rs. 1,000 crores. They are also aiming to set up an agri-product sourcing and logistics hub near Hyderabad Airport to facilitate exports and promote local Telangana produce in India and globally. Furthermore, the group has plans to establish a seafood procurement and processing center in Telangana.
Lulu Group, headquartered in Abu Dhabi, has a turnover of $8 billion and operates over 250 hypermarkets and 24 shopping malls across 22 countries. The company employs over 65,000 individuals globally.