UAE-based Lulu Group to invest Rs 1,000 crore in Indian city of Lucknow

Lucknow: Indian business tycoon's Lulu Group will invest Rs 1,000 crore in Uttar Pradesh's capital Lucknow to set up a convention centre, shopping mall and a five star hotel.
Announcing this Chairman of Lulu Group MA Yusuff Ali said: "As a businessman I travel to many countries. But whether I go to Europe, Asia or far East, or in the Gulf countries, I find NRI's from Uttar Pradesh and the state of Kerala".
The investment in UP will create an employment for 3,000 people, Ali said while addressing the maiden UP Prawasi Divas in Agra on Monday.
"I don't believe in declarations, we believe in work. If everything is ready, we promise to begin our construction."
With a net worth of USD 3.4 billion, Ali was ranked 24th on Forbes' list of India's richest 100 people last year. He also hit the headlines in July last year for the USD 170 million purchase of the iconic Scotland Yard building in London.
UP Chief Minister Akhilesh Yadav who was present at the function said the Pravasi Diwas was a positive start to the state government's efforts to reach out to its non-residents and for the state machinery to facilitate their connection with roots. "I welcome Ali's promise to invest in Uttar Pradesh. The government will make every effort to ensure that land and any other assistance is provided to him so that he can begin work," he said.
Lulu currently operates 118 hypermarkets and shopping malls in the Middle East and India. Globally, Lulu Group employs more than 35,000 people. Lulu hypermarkets and department stores have a 32 per cent share of the retail market in Gulf Cooperation Council countries. The group also has invested in India's retail market with a mega mall in Kochi, Kerala.
Lulu moves ahead with Bahrain expansion plans
Meanwhile, Lulu Group which is on a vast expansion mode opened its 5th hypermarket in the Kingdom of Bahrain at Juffair. The 120th Lulu Hypermarket of the group was inaugurated by H.E. Shaikh Khaled bin Abdulla Al Khalifa, Deputy Prime Minister of Bahrain in the presence of H.E. Zayed Al Zayani , Minister of Industry & Commerce, H.E. Jameel Humaidan, Labour Minister, HE Shaikh Khalifa Bin Daij Al Khalifa, President of Crown Prince Court, HE Shaikh Ahmed Khalifa Al Khalifa, Crown Prince Court, and other senior Govt officials and various ambassadors at Juffair Mall.
Prominent dignitaries present during the inauguration included H.E Alok Kumar Sinha , Indian Ambassador , H.E William Roebuck , US Ambassador , H.E Simon Martin CMG , UK ambassador and other prominent industry & business leaders .
Speaking to media after the inauguration, Yusuffali MA said “the success of Lulu Hypermarket in Bahrain, since it opened its doors here in 2007 has been due to the leaders and the people of the country. I take this opportunity to thank His Majesty King Hamad bin Isa Al Khalifa, HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister and HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and First Deputy Premier for their transformative leadership and the Government for its transparency, accessibility and effectiveness.”
“Lulu Hypermarket has built its brand on the quality promise and we are very happy that the people of Bahrain have responded so warmly to the range of products, the cost-effectiveness and top quality of Lulu. Bahrainis have excellent people skills and have been the backbone of our business growth. We are proud of their participation in our multi-cultural employee force” he added.
The new 120,000 sq. ft. Lulu hypermarket will serve the residents of Juffair, Hoora, Gudaibiya, Adliya and Umm Al Hassam areas with its widest range of products from all over the world. As always Lulu hypermarket provides the widest range of quality and value-for-money products all under one roof. It has separate sections for fresh fruits and vegetables, meat and poultry, dairy products, ready-to-eat products and a state-of-the-art live bakery and Hot Foods kitchen. The product mix in Lulu Juffair will also include a wide selection of premium UK and US goods, including special products air-flown for freshness.