(MENAFN- Muscat Daily) Lulu Hypermarket plans to open 42 new supermarkets in the next two years.
The chain plans to open six new supermarkets in Oman, seven in UAE, four each in Qatar and Kuwait, three each in Bahrain and Egypt, and 15 in Saudi Arabia.
New markets are also being explored in Malaysia, Indonesia, Iraq, Algeria, Morocco and Libya. These expansion plans come close on the heels of the Arab Spring that has led countries to liberalise foreign investment regulations, a press release said.
There is demand for organised retail and that is exactly what Lulu offers, an official said.
''We have already expanded into other areas, and this includes 65 Lulu International Exchange branches in India, the Far East and Africa and another 40 planned in the next three years in the MENA region, India and Philippines. Shopping malls and real-estate projects, 12 malls over five years with plans for seven more, as well as mixed-use projects in UAE, Oman, Bahrain, Qatar, Saudi Arabia and India are also on the anvil.''
Shopping malls complement hypermarkets and vice versa. That is the reason why the group is investing in shopping malls while the core business remains hypermarkets. This is our business model. Lulu's diversification will always be in sectors related to retail, the company press release added.
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