UAE-based hypermarket giant LuLu Group is set to double its total investment in Bahrain to over BD200 million by opening three more branches in the next three to four months, alongside other projects.
This marked increase in investment is expected to provide a substantial boost to the economy and create more than 1,000 jobs in the kingdom where the company employs over 800 Bahrainis.
The retailer’s CEO and managing director, Yusuffali M.A., revealed that the group is launching the hypermarkets as part of a BD100 million investment in Bahrain when he announced the opening of the Group’s 10th location in Gudaibiya.
Mr Yusuffali said: “We have already commenced construction at three new sites, and we anticipate the stores’ opening very soon.”
With the upcoming branches in Manama Centre, Avenue Mall and Diyar Al Muharraq, the total number of the Group’s stores in the country will reach 13.
“The new store signals the confidence LuLu Group has in the vision of the leadership of Bahrain and its belief in the excellence of Bahrainis as partners in success in line with Bahrain’s development march,” added Mr Yusuffali during the inauguration address of the latest store opening in Gudaibiya.
In addition, the Group is actively considering investment opportunities in other sectors such as food manufacturing and logistics.
Recently, LuLu Group International revealed plans to launch an initial public offering in the first half of next year and list its shares on the Abu Dhabi Securities Exchange.
Last month, as part of its expansion strategy in Central Europe, the retail giant announced its intention to establish a sourcing and export hub in Poland.
