DOHA: UAE based Lulu Group has set its foot in Egypt by opening its first hypermarket in Cairo, capital of Egypt. The 119th hypermarket of the group was inaugurated by Khalid Hanafy, Egyptian Minister for Trade in the presence of Galal El Saeed, Governor of Cairo, Mohamed Abdul Sayed, Adviser to the Prime Minister, Khalifa Thunaiji, Deputy UAE Ambassador to Egypt and other high ranking government and civil officials.
Yusuff Ali MA, Chairman of Lulu Group, Saifee T Rupawala, CEO, Ashraf Ali MA, Executive Director, Mohamed Althaf, Director of Lulu Egypt and other top company officials were also present on the occasion.
The new store is located in Twin Plaza Opposite Police Academy on the Zakir Hussein road extension in the first settlement of New Cairo. Spread over an area of 170,000 square feet, the new store is specially designed to offer the residents with a world class shopping experience like never before at fair prices and friendly service. Commenting on Lulu Group’s Egypt plans, Yusuffali MA, Chairman of Lulu Group, said: “We consider Egypt as a very important market for us and our experience of more than four decades of success and accomplishment in the retail industry is sure to help us become the most popular retailer in the region. Egyptians are already well aware of Lulu and we hope to bring world class shopping closer to them in various important location of this great country. As per the plan, we intend to invest EGP 3 bn($ 300m) in setting up 10 new hypermarkets in next 2 years across Egypt.”
THE PENINSULA
