LuLu Group International has said it will invest $500 million in building Malaysia’s largest shopping mall as the Abu Dhabi-based retail giant continues its expansion in the Far East.
The firm recently announced it would spend $300 million on 10 new hypermarkets in the South East Asian nation, and opened the first of these in Kuala Lumpur on Saturday.
“With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by end-2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians,” said Yusuff Ali MA, Lulu Group’s chairman, in a press statement.
“We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he added.
The Lulu Group currently operates 126 stores across the GCC, Egypt, India, Indonesia and has a workforce of more than 38,000.