UAE-based supermarket chain Lulu Group has opened a new mall worth Dhs370 million in the northern emirate of Fujairah.
Spread across 550,000 square feet on two levels, the mall will feature more than 100 local and international fashion, leisure, entertainment brands along with food and dining options.
The new mall will also be anchored by a LuLu hypermarket along with a 22,000 square feet entertainment zone called Sparkeys and a 5,000 square feet ice rink, the retailer said in a statement.
“This is a very prestigious project for us as we expand our presence across the different parts of UAE,” said Yusuffali MA, managing director of LuLu Group.
“It has been our policy to reach nearer to the people rather than driving long distance to reach us.”
LuLu Group currently has 110 supermarkets and hypermarkets across the Gulf, Yemen, Egypt and India.
The retail chain also opened two new outlets in the UAE in 2014, which include the largest hypermarket in Abu Dhabi and a new store in Sharjah.
The company recently announced aggressive expansion in Malaysia with plans to open six new halal-only hypermarkets with an investment of $200 million.
The supermarket chain has also outlined plans to enter new markets such as Iraq, Indonesia, Algeria, Morocco and Libya.
LuLu Group was named one of the fastest growing retailers in the world, according to Deloitte. The retailer averaged compound annual growth rate of more than 25 per cent between 2007 and 2012 while its revenues exceeded $4.5 billion in 2012.
UAE retailers have been thriving on boom in the sector brought about by strong population growth and rising income levels in the country.
The UAE’s retail sector is estimated to grow around 32.9 per cent from Dhs114 billion in 2012 to reach Dhs151 billion by 2015, according to a report by Dubai FDI.