An MoU to this effect was signed by Rejith Radhakrishnan, Chief Operation Officer of Lulu India and Amit Jain, Group CEO of EMAAR on the side lines of groundbreaking ceremony of Mall of Srinagar at Sempora in Srinagar. The Indian rupee 250 crore project will be built on 1 million square feet of area and be ready by 2026.
As per the MOU, LuLu Group will be setting up its first hypermarket in J&K at the Mall of Srinagar with an approx. size of 100,000 sq. feet and will employ about 1,500 youth from the state directly for its operations after necessary training and development.
The occasion was also graced by Aman Puri, Consul General of India in Dubai, Maj. Gen. Sharafuddin Sharaf, Chairman of UAE India Business Council and Vice Chairman of Sharaf Group, Arun Kumar Mehta, Chief Secretary, J&K Government and other dignitaries.
“We are excited to enter J&K retail sector with this most modern hypermarket in this unique mall, which is being developed by Emaar Properties” said Yusuffali MA, Chairman of Lulu Group. “I am sure this project will not only boost the economic and tourism activities in the state but also give considerable employment opportunities to the local youth and support the farming sector immensely”, he added.
During the UAE visit by Lt. Gov Sinha last year Lulu Group had signed an MoU with J&K government to set up a “food processing and logistics hub” as part of their investments plans for Jammu & Kashmir to the tune of Indian rupee 200 crore in the first phase.
“Currently, the LuLu Group is exporting apples, saffron and
dry fruits from the state to Lulu Hypermarkets in the Middle East, Egypt and
Far East”, said Rejith Radhakrishnan
Abu Dhabi based Lulu Group currently runs 248 Hypermarkets and Supermarkets
across GCC countries, Egypt, Far East and India employing more than 65,000
people from various countries.
Courtesy: Saudi Gazette
