Emirati hypermarket chain goes long on Egypt

UAE-based hypermarket chain LuLu is planning to open four new outlets in Egypt.

Lulu currently has a single store in Egypt and 153 others across the Middle East and Asia. Selling everything from FMCG to home appliances, homewares and apparel, it was founded in 2000 by Indian national M.A. Yusuff Ali, who is its chairman and managing director.

The retailer has signed an agreement with the Egyptian Internal Trade Development Authority that will see it invest EGP10 billion (USD557 million) to build more than 100,000m² of retail space and create around 40,000 jobs. The new Egyptian stores will be located in 6 October City, New Cairo and Obour.

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