UAE based LuLu Group which opened its first hypermarket and department store in Jakarta, Indonesia in January last year will be investing US$500 million on a major project in the country. The Project will include the setting up of ten new hypermarkets and department stores in the next three years across the country.
The first LuLu Hypermarket and Department Store was inaugrated by the Indonesian President, Joko"Jokowi"Wi dodo and it has become one of the most highly popular shopping destinations for residents in and around East Jakarta. Explaining the expansion plans of the company in Indonesia, Chairman of LuLu Group, Mr. Yusufali MA said:
With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets and department stores by the end of 2018 and a central logistics and warehousing facility in Jakarta. These projects are likely to generate more than 500 job opportunities for Indonesians. We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Indonesian agrarian sector.
During his visit to UAE in 2015, President Jokowi had exprsssed a keen desire to have a LuLu outlet in the country. He was impressed by the high standard of operation, quality and the wide range of products available at LuLu outlets. Lulu Group currently operates nearly 132 stores across the GCC, Egypt, India, Indonesia and Malaysia. It proviides employment opportunities for more than 40,000 people from various nationalities and is also ranked among the largest retail chains in the Middle East.