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FINANCIAL NEWS
Abu Dhabi’s Lulu to open six USD200 m hypermarkets in Malaysia
14 Apr 2014
(MENAFN) Abu Dhabi-based Lulu International Group plans to launch new hypermarkets in Malaysia, supported by the country’s Federal Land Development Authority (FELDA), according to Arabian Business.
This year, Lulu Group will start with the first branch in Kuala Lumpur, followed by another five at different locations in the next few years.
The group has allocated as much as USD200 million for its investments in Malaysia.
Tan Sri Muhyiddin Yassin, Malaysia’s deputy Prime Minister, said: “They will also help market more Malaysian products at their hypermarkets, including those produced by our small-and medium-sized industries and FELDA.”
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