ABU DHABI — LuLu Group, the Abu Dhabi-based retail chain, said Monday that it will be opening its first hypermarket in Indonesia by the end of this year, with a $300 million investment in the first phase. The group will then invest an additional $200 million over the next five years to finalize its expansion plans in Indonesia.
In a statement, the group said it plans to open 15 hypermarkets in the country by the end of 2017 along with a central logistics and warehousing facility in the capital, Jakarta.
“These projects are likely to generate more than 5,000 job opportunities for Indonesians and to train them on all levels. The fact that we are going to Indonesia with our Halal hypermarket concept is giving us the encouragement to look for a wider market segment there,” said Yousuffali M.A., managing director of LuLu Group.
Apart from Jakarta, LuLu said it plans to open hypermarkets in Bandung, Solo, Semarang, Surabaya and Yogyakarta.
“We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Indonesian agriculture sector,” Yousuffali said.
Yousuffali M.A. was ranked first on the Forbes list of the richest 100 Indians in the Arab world last year.
