Dubai-based Lulu Group which is owned by an Indian business tycoon has marked its retail push in the far East as it opened the first hypermarket in Indonesia’s capital city of Jakarta to provide one-stop shopping destination for the people.
Lulu group has already announced plans to set up 10 hypermarkets in the next three years in the country at an initial investment of $300 million.
The hypermarket is expected to be one of its kind in the region and attract large segments of population in Jakarta.
Located in the Cakung sub-district of East Jakarta with an area of over 200,000 sq ft, the new hypermarket is designed with customer convenience and provides a one-stop shopping destination for the residents of the city.
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end-2017 and a central logistics and warehousing facility in Jakarta. These projects are likely to generate more than 5,000 job opportunities for Indonesians,” said Yusuf Ali MA, Chairman of Lulu Group, from Kerala.
“We also plan to set up contract farming to ensure continuous supply of high-quality products and to support the Indonesian agriculture sector,” he added.
During the official visit to UAE last year, President Joko Widodo had visited Lulu hypermarket in Abu Dhabi and expressed keen desire to have Lulu in Indonesia. He was impressed by the high standards of operations, quality of products & service and also the wide variety of products available in LuLu.
The Lulu Group currently operates 125 stores across India, Egypt, the GCC employees more than 38,000 people from different nationalities and is also the one of the largest retail chain in the Middle East.