Abu Dhabi-based supermarket operator Lulu Group plans RM420 mil investment in Melaka

KUALA LUMPUR (March 18): Abu Dhabi-based Lulu Group International plans to invest RM420 million to open a chain of supermarkets and export centres in Melaka within three years.

Lulu chief operating officer Saleem V I said the investment includes the cost of several hypermarkets and supermarkets throughout Melaka in the next two or three years.

He said the export centre would buy agricultural products and other goods in Melaka for sale to the conglomerate’s worldwide network.

“In Melaka, we will invest US$100 million (RM420 million) for not only a retail chain but also a logistics centre to export agricultural products. A team from Lulu will visit Melaka soon to look at suitable locations,” he said in a report published by the Melakahariini.my portal today.

Earlier, Saleem received a visit from Melaka Chief Minister Datuk Seri Sulaiman Md Ali to Lulu’s office in Dubai, United Arab Emirates.

Sulaiman said the Melaka government welcomes Lulu’s decision to invest in the State to help create jobs and bring change to the retail landscape in the State.

The Chief Minister believes that Melaka is a suitable investment destination for Lulu, which also offers business opportunities to farmers and small and medium enterprises (SMEs).

Lulu has plans to open 15 outlets in the next three years throughout Malaysia. In 2021, the group opened four branches in Kuala Lumpur, Selangor and Johor.

Meanwhile, State industrial and investment Committee chairman Datuk Seri Ab Rauf Yusoh said Invest Melaka Bhd, the State’s investment promotion agency, is looking at several suitable locations for Lulu in the State.

“The State government welcomes what has been decided to bring the Lulu supermarket chain to Melaka.

“They are also keen to expand their business and is selecting Melaka as one of the destinations,” he said.

Lulu, which has 227 retail stores globally, earns US$8 billion a year and has 57,000 employees worldwide.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates

Click here for more property stories