UAE-based retail giant, Lulu Group, has unveiled its plans to make a significant investment of over Rs 3,500 crore in Telangana. The chairman of Lulu Group, Yusuff Ali MA, announced the company’s intentions to establish malls and food processing facilities in the state over the next five years. This strategic move was made in the presence of Telangana Industries Minister, KT Rama Rao, and underscores Lulu Group’s commitment to expanding its presence in the region. The investments, including the development of a destination mall near Hyderabad, are expected to generate substantial job opportunities, enhance the retail landscape, and boost the local economy.
Yusuff Ali revealed that Lulu Group is set to invest a staggering amount of Rs 3,500 crore in Telangana. The investments will focus on various projects, with a significant portion of approximately Rs 2,500 crore allocated to the establishment of a destination mall on the outskirts of Hyderabad. This expansive mall is expected to create around 12,000 job opportunities, contributing to the state’s employment growth. Additionally, Lulu Group has signed Memorandums of Understanding (MoUs) with the Telangana government, solidifying its commitment to these investments and fostering a mutually beneficial partnership.
As part of its expansion plans, Lulu Group will initially invest Rs 300 crore in the opening of the first Lulu mall and Lulu Hypermarket in Hyderabad’s Kukatpally area. The group has taken over the 5 lakh square feet Manjeera mall and aims to transform it into a vibrant retail hub. The Lulu Hypermarket, covering an area of 2 lakh square feet, will offer a diverse range of products, including fresh produce, groceries, fashion, home appliances, electronics, mobiles, IT, and lifestyle items. Lulu Group’s retail offerings will be available under the brand names Lulu Fashion Store and Lulu Connect, providing customers with an extensive selection of high-quality products.
Lulu Group’s investments in Telangana hold immense potential for job creation and economic growth. The establishment of the destination mall near Hyderabad alone is expected to generate approximately 12,000 employment opportunities. This significant influx of jobs will positively impact the local workforce, contributing to the state’s socio-economic development. Moreover, Lulu Group’s commitment to the region demonstrates its confidence in Telangana’s business environment and growth potential.
Lulu Group’s collaboration with the Telangana government through the signing of MoUs signifies the alignment of their objectives and mutual commitment to promoting economic growth. The partnership aims to leverage the strengths of both parties, driving investments, fostering job creation, and enhancing the retail sector in the state. The government’s support and facilitation of Lulu Group’s expansion plans further reinforce Telangana’s attractiveness as an investment destination.
The entry of Lulu Group into the Telangana market is expected to significantly boost the region’s retail landscape. With its renowned Lulu Hypermarket and expansive mall, the group will bring world-class shopping experiences and a diverse range of products to consumers. This retail expansion is set to benefit customers by offering a one-stop shopping destination for their everyday needs and aspirations. Additionally, the development of retail infrastructure and the introduction of new brands will contribute to the overall growth and vibrancy of the retail sector in Telangana.
Lulu Group’s substantial investment of over Rs 3,500 crore in Telangana reflects its confidence in the state’s potential and commitment to its growth. The establishment of malls, including a destination mall near Hyderabad, and the introduction of Lulu Hypermarkets will not only provide job opportunities but also enhance the retail experience for consumers. Through its collaboration with the Telangana government, Lulu Group aims to contribute to the state’s economic development and create a thriving retail ecosystem. The entry of Lulu Group marks a significant milestone for Telangana and reinforces its position as a favored destination for global retail giants.
