RIYADH: Lulu Hypermarkets, owned by Abu Dhabi based EMKE Group, opened its third store in Riyadh Sunday for a total investment of SR220 million. The hypermarket has recruited 350 Saudis to work in different positions at the one million square feet-store, such as cashiers, counter-clerks and supervisors. Prince Saud Bin Abdullah Bin Abdul Aziz who inaugurated the store said the opening of the Lulu Hypermarket in Riyadh reflects the growing trade relations between Saudi Arabia and India. “Lulu under its expansion plan will open several other stores in different parts of the Kingdom,” the prince said. Yousuf Ali, Managing Director EMKE Group, said Saudi Arabia's well placed security system, good governance and the visionary Saudi leadership are three factors that make the country an attractive destination for foreign investors. “There is no political unrest in the GCC countries and I have full confidence in the Saudi leadership, people and security system. I will go ahead with my expansion plans that involve investments to the tune of about SR2 billion in Saudi Arabia,” said Ali. He said within the next three months his group will open Lulu stores in Riyadh's downtown Batha, and one each in Jeddah, Makkah, and Madina. However, he said during the three-year expansion plan, Lulu will open about 15 stores in different cities of the Kingdom for a total investment of SR2 billion. Lulu's investments in Saudi Arabia will create about 4,000 employment opportunities for Saudis during the next three years, said Ali. “Our commitment to Saudization is on track. We will not only employ Saudis but we will also train them by taking them to Lulu's training facilities located in other Gulf states,” he said.
