Ramzi
16-03-08, 02:49 AM
MUSCAT — Lulu, the biggest hypermarket and supermarkets chain in the Middle East, has announced plans to invest a further RO 70 million to expand its retail network in the Sultanate. New hypermarkets and mini-malls are planned in Salalah, Nizwa, Buraimi and Musandam, while the existing outlet at Bausher is being upgraded into a full-fledged shopping mall. The new properties will further consolidate the Lulu Group's presence in the Sultanate, currently comprising six hypermarkets — in Bausher, Darsait, Seeb, Barka, Sohar and Salalah — boasting a combined retail floor space of 1.2 million sq ft.
Unveiling the group's expansion plans at a media briefing here yesterday, Yusuffali M A, Managing Director, said: "Right from the Day One, we were quite positive about the Omani market, and the rapid growth that we have achieved here in a short span is a testimony of our confidence in the strong economy of this country. With all-round development taking place in Oman under the wise leadership of His Majesty Sultan Qaboos, we feel very encouraged to launch newer ventures in different parts of the Sultanate." Yusuffali said the Group had already invested more than RO 90 million in its existing projects.
"Oman is one of our key focus markets in the region. The unprecedented growth not only in oil-based revenues but also in tourism, real estate, industry and the service sector is very fascinating for a multi-level retailer like us, and we are constantly looking at offering a new shopping and leisure experience to both residents and tourists." The new projects include the extension of Lulu Hypermarket in Baushar, which when completed by the first quarter of 2010, will house more than 150 international brands, a food court with over 30 multi-cuisine outlets, an amusement centre, and other world-class features.
In Salalah, a major tourism destination in Dhofar Governorate, the Group is planning a 350,000 sq ft property complete with a 21-outlet food court. Musandam, which is being promoted as a future tourism and leisure attraction, will get a roughly 200,000 sq ft mini-mall. All the new outlets will open by 2009. Yusaffali also stressed the Group's commitment to Omanisation. Out of a total workforce of around 2500-plus employees, around 1,340 are Omanis.
This figure is projected to reach the 2000 mark by the end of 2009, the Managing Director said, adding that supervisory and senior management jobs are also targeted for Omanisation and training. Commenting on the issue of rising consumer prices, Yusaffali said the Group was committed to keeping prices stable, noting that Lulu prices among the lowest in the trade. According to A V Ananth, Regional Director — Oman, the Group was also exploring opportunities for tie-ups with local Omani farm and foodstuff producers to market their goods under the 'Lulu' brand.
The Lulu retail chain currently has 69 hypermarkets and supermarkets in the GCC and Yemen, enjoying a market share of 33 per cent in the organised retail sector. By the end of 2009 the group will be opening another 12 new shopping malls and hypermarkets thereby further strengthening its leading position in the region. Currently the group employs more than 18,000 staff from 29 different nationalities in its various operations in 18 countries from China to Africa with the GCC at the heart of its business.
Oman Observer
Unveiling the group's expansion plans at a media briefing here yesterday, Yusuffali M A, Managing Director, said: "Right from the Day One, we were quite positive about the Omani market, and the rapid growth that we have achieved here in a short span is a testimony of our confidence in the strong economy of this country. With all-round development taking place in Oman under the wise leadership of His Majesty Sultan Qaboos, we feel very encouraged to launch newer ventures in different parts of the Sultanate." Yusuffali said the Group had already invested more than RO 90 million in its existing projects.
"Oman is one of our key focus markets in the region. The unprecedented growth not only in oil-based revenues but also in tourism, real estate, industry and the service sector is very fascinating for a multi-level retailer like us, and we are constantly looking at offering a new shopping and leisure experience to both residents and tourists." The new projects include the extension of Lulu Hypermarket in Baushar, which when completed by the first quarter of 2010, will house more than 150 international brands, a food court with over 30 multi-cuisine outlets, an amusement centre, and other world-class features.
In Salalah, a major tourism destination in Dhofar Governorate, the Group is planning a 350,000 sq ft property complete with a 21-outlet food court. Musandam, which is being promoted as a future tourism and leisure attraction, will get a roughly 200,000 sq ft mini-mall. All the new outlets will open by 2009. Yusaffali also stressed the Group's commitment to Omanisation. Out of a total workforce of around 2500-plus employees, around 1,340 are Omanis.
This figure is projected to reach the 2000 mark by the end of 2009, the Managing Director said, adding that supervisory and senior management jobs are also targeted for Omanisation and training. Commenting on the issue of rising consumer prices, Yusaffali said the Group was committed to keeping prices stable, noting that Lulu prices among the lowest in the trade. According to A V Ananth, Regional Director — Oman, the Group was also exploring opportunities for tie-ups with local Omani farm and foodstuff producers to market their goods under the 'Lulu' brand.
The Lulu retail chain currently has 69 hypermarkets and supermarkets in the GCC and Yemen, enjoying a market share of 33 per cent in the organised retail sector. By the end of 2009 the group will be opening another 12 new shopping malls and hypermarkets thereby further strengthening its leading position in the region. Currently the group employs more than 18,000 staff from 29 different nationalities in its various operations in 18 countries from China to Africa with the GCC at the heart of its business.
Oman Observer