Lulu to open ten new hypermarkets in Saudi Arabia in 2016-17, for SAR700 million
Lulu Group International, the UAE-based retail group, plans to invest SAR700 million to launch four hypermarkets in 2016 (two in Jeddah and one in each of Hail and Hofuf), with six more scheduled to open in 2017, according to Chairman Yusuffali MA. The company recently opened its sixth Saudi hypermarket in Dammam, its 121st in the GCC. The company has already invested more than SAR800 million in the kingdom and operates with a Saudisation rate of c30%. (Gulf Business)
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