UAE-based Lulu Group launches integrated project in India

Business Sunday 25/February/2018 15:32 PM
By: Times News Service
UAE-based Lulu Group launches integrated project in India

Muscat: Retail major Lulu Group has officially launched one of the largest projects of its kind in the south Indian state of Andhra Pradesh.
Based on a public-private-partnership (PPP) model, the integrated project comprises a world-class convention centre with a capacity for 7,000 people, a 2 million square feet shopping mall and a luxury hotel on the beach road in the Harbour Park area of Visakhapatnam. The project is aimed at making the city a global destination for Meetings, Incentives, Conferencing and Exhibitions (MICE) tourism.
Once completed, the project will create more than 5,000 direct jobs and provide indirect employment to another 5,000 people. “We hope to complete this prestigious project by 2021. It will provide a world-class shopping experience to both tourists and residents of the sunrise state,” group’s Chairman and Managing Director Yusuff Ali M A said.
The mall will have more than 200 national and international brands, a 0.2 million square feet hypermarket, 11 multiplex screens, a family entertainment centre, food courts with 2,500 seats, and more than 20 food and beverage outlets and fine dining concepts.
“We have made investments worth $2 billion in India and are looking at possibilities for further investment in retail, hospitality, and food processing in various parts of the country,” Yusuff Ali said.
"Andhra Pradesh has tremendous potential for investments in various sectors, especially in hospitality and retail. We have had many rounds of fruitful discussions with the government of Andhra Pradesh and the speed with which they approved our project is commendable. We are fully committed to completing this prestigious project within 36 months,” he added.
The foundation stone for the project was laid by Vice-President of India M Venkaiah Naidu, in the presence of Andhra Pradesh Chief Minister Chandra Babu Naidu; Union Ministers Suresh Prabhu, Ashok Gajapathy Raju and YS Chouwdary; Yusuff Ali MA; Ashraf Ali MA, Executive Director of Lulu Group; Ananth AV, Director of Lulu Group; state ministers; diplomats; and delegates from across the world.