Lulu Group International, owned by UAE-based billionaire Yussuf Ali, is expanding into Gujarat, where it plans to invest Rs 3,000 crore to build India’s largest shopping mall in Ahmedabad, according to a company official.
According to Lulu Group Director of Marketing and Communications V Nandakumar, work would begin early next year on the Rs 3,000 crore shopping complex that will feature all modern amenities.
After Kochi (Kerala) and Lucknow (Uttar Pradesh), this would be the third mall built by the Lulu Group in the nation. It will create 6,000 direct jobs and more than 12,000 indirect jobs in the state, he added.
Nandakumar confirmed the news to PTI, saying: “Discussions to purchase the site to build this project are nearing completion, and the huge shopping mall’s foundation stone would be set early next year. The Ahmedabad-based retail mall will have more than 300 domestic and foreign brands, a food court with restaurants serving a variety of cuisines, 15-screen multiplex theatres with Imax, India’s largest children’s amusement centre, and numerous other attractions.
This Rs 3,000 crore investment by Lulu Group International follows the signing of an MoU between Lulu Group and the Gujarati government during the chief minister of Gujarat’s recent UAE road show in Dubai.
Nandakumar stated, “This Shopping Mall will undoubtedly be a landmark attraction for everyone in India and worldwide. Our aim is to make Ahmedabad one of the most prolific shopping places in India.
Ananth Ram, Director of Indian Operations for Lulu Group, commented on the development, calling the Ahmedabad mall “India’s biggest Shopping Mall with the biggest Lulu Hypermarket as its anchor shop.” According to Yusuff Ali M. A., Chairman & Managing Director of Lulu Group International, “Gujarat has developed a great deal under the dynamic leadership of Bhupendra Patel, the current Chief Minister of Gujarat and our current Prime Minister Narendra Modiji.
Gujarat is now regarded as a destination because of its cutting-edge infrastructure and business-friendly environment. My family had a firm in Ahmedabad, Gujarat, where I learned the fundamentals of business. Gujarat holds a special place in my heart, he continued.
Lulu Group, well-known for its extensive commercial ventures across the globe, is now growing in India after establishing a strong foothold in the southern regions of the nation for many years.
The Abu Dhabi-based firm operates its well-known supermarkets in the cities of Kochi, Bengaluru, and Thiruvananthapuram in addition to providing supermarkets, food processing, real estate, and financial services.
It had already let the public into its sizable supermarket in Lucknow in July of this year.
Lulu Group, with its headquarters in Abu Dhabi, primarily conducts business in 23 nations spread over the Middle East, Asia, the US, and Europe.
It employs approximately 60,000 people and has an 8 billion USD yearly revenue.
The group’s driving force and charming, well-connected businessman Yussuf Ali M. A., 66, has been growing his business operations over time.
Yussuf Ali, who was raised in Gujarat before coming to the Keralan region of Thrissur to pursue a career in business management, is renowned for both his financial prowess and his charitable deeds.
