Lulu is planning to construct what is termed as one of the largest shopping malls of India in Ahmedabad, at an estimated cost of Rs40 billion. It has already acquired the land on SP Ring Road in Chandkheda through an auction by Ahmedabad Municipal Council.
The construction for the proposed shopping mall is expected to begin soon, said Yusuff Ali. “The shopping mall project alone will create direct and indirect employment for more than 7,500 people”.
During the India-UAE Business Summit held on the sidelines of Vibrant Gujarat summit, Yusuff Ali said, “The relationship and friendship between India and the UAE are historical and it is strengthening day by day. The visits of President His Highness Shaikh Mohammad Bin Zayed Al Nahyan to India and Narendra Modi, Prime Minister of India, to the UAE have taken this relationship totally to a new level further boosting investments and business partnerships.
“Apart from shopping malls, we are working together with the UAE government to set up Asia’s biggest food park in Gujarat, where we will have our food processing and logistics centre,” added Yusuff Ali.
Commenting on Lulu Group’s investments in Tamil Nadu, Yusuff Ali said, “We are coming up with shopping malls and hypermarkets across the state. Our team is working with authorities to finalise the locations in Chennai. LuLu currently has one hypermarket in Coimbatore which was opened last year.”
Lulu Group India currently has malls in seven Indian cities, including Kochi, Thiruvananthapuram, Bengaluru, Lucknow, Hyderabad, Triprayar and Palakkad, with new malls set to open soon in Kozhikode and Kottayam later this year.
“Our strategy is to firmly expand in existing markets while tapping new avenues in the retail, hospitality and food processing sectors across India,” concluded Yusuff Ali.
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